TJX Reports 1Q Sales

DDI WEB

TJX Reports 1Q Sales
May 20, 2008

Framingham, Mass.-based The TJX Cos. Inc. reported net sales of $4.4 billion, a 6 percent increase, for the first quarter ending April 26, 2008. Consolidated comparable-store sales rose 3 percent; while net income was $194 million. "We are pleased with our first quarter performance, as we once again drove strong sales, merchandise margins, and profit growth despite the challenges of the consumer environment and unfavorable weather in the first two months," said Carol Meyrowitz, president and CEO of TJX. In addition, the company added 33 new stores, increasing its square footage by 4 percent for the quarter. TJX operates more than 2,500 stores throughout the United States, Canada and Europe.

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