TJX Cos. (TJX) April Comps Rose 8%; Narrows Q1 EPS Outlook

TJX Cos. (NYSE: TJX) reported April 2013 sales results. Sales for the four-week period ended May 4, 2013, were $2.0 billion, up 9% over the $1.8 billion achieved during the four-week period ended April 28, 2012. For the 13-week period ended May 4, 2013, sales reached $6.2 billion, a 7% increase over the $5.8 billion achieved during the 13-week period ended April 28, 2012. Consolidated comparable store sales for the four-week period ended May 4, 2013, increased 8%. For the 13-week, year-to-date period, consolidated comparable store sales increased 2% over last year’s reported 8% increase.

Carol Meyrowitz, Chief Executive Officer of The TJX Companies, Inc., stated, “We are pleased with our 8% consolidated comparable store sales increase in April, which was at the high end of our expectations. Both in April and the first quarter, our consolidated comp sales increases were achieved over strong growth last year. Customer traffic drove comp increases at all divisions, as consumers responded to our extremely fresh selections of branded spring apparel. With strong sales and margins, we are further narrowing our first quarter earnings per share expected range to $.61-$.62. This would represent a very solid increase over last year’s first quarter, which had the highest EPS growth of that year. As we enter the second quarter, May is off to a strong start and our inventory levels are in an excellent position for us to buy into the enormous amount of quality opportunities we are seeing in the marketplace.”

The Street is looking for Q1 EPS of $0.62 and revs of $6.17 billion.

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