TJX Reports August Sales

The TJX Companies, Inc. TJX today reported August 2010 sales results. Sales for the four-week period ended August 28, 2010, were $1.7 billion, up 6% over the $1.6 billion achieved during the four-week period ended August 29, 2009. For the 30 weeks ended August 28, 2010, sales reached $11.7 billion, up 10% over the $10.7 billion achieved during the 30-week period last year. Consolidated comparable store sales for the four-week period ended August 28, 2010, increased 2% compared to last year. For the 30-week, year-to-date period, consolidated comparable store sales increased 6% compared to last year. Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Our consolidated August comparable store sales increase of 2% and The Marmaxx Group’s comp sales increase of 3% were both solidly in line with our expectations and achieved on top of mid-single-digit comp sales increases last year. We continue to see customer traffic increase and are confident that our excellent value proposition on great fashions and brands is drawing people to our stores. With very lean inventories, we are in an excellent position to capitalize on the terrific buying opportunities on quality brands that we are seeing in the marketplace as we move into the fall selling season.”