The TJX Companies, Inc. Raises View of Q3 and Full Year FY14 and Highlights Investor Event Focus: Increased Long-Term Store Growth Potential; Greater Margin Potential in Europe; and Confidence in Long-Term EPS Growth Model
Company Raises View of Third Quarter and Full Year Fiscal 2014
With strong sales and profit margins quarter-to-date, the Company is
raising its third quarter Fiscal 2014 earnings per share and comparable
store sales guidance. The Company now expects third quarter diluted
earnings per share to be in the range of
The Company is also raising its full year earnings per share outlook to
reflect its increased third quarter guidance. For the fiscal year ending
The Company is maintaining its fourth quarter earnings per share
guidance of
Investor Event Focus
Company to Raise Long-Term Store Growth Potential in Current Markets
The Company will raise its estimates for long-term store growth
potential on a consolidated basis with its current chains, in its
current markets. The most significant factor in this increase is that
TJX now believes that its Marmaxx division (
Company Sees Greater Margin Potential for European Division
The Company will discuss its view that it now sees TJX Europe
(consisting of
Continued Confidence in Long-Term Annual EPS Growth Model of 10%-13%
The Company is also confirming its confidence in its ability to grow earnings per share annually by 10%-13% for each of the next three years. The underlying components of this plan remain as follows: The Company expects to grow its sales by 6%-7%, with approximately 2% growth coming from comparable store sales and 4%-5% from square footage growth. An additional 1%-2% is estimated to come from segment profit margin improvement and an additional 3%-4% is expected to come from the Company’s share repurchase program.
About
Investor Event Webcast Information
The Company will webcast the management presentations at its Investor
Event on
Important Information at Website
The Company routinely posts information that may be important to investors in the Investor Information section at www.tjx.com. The Company encourages investors to consult that section of its website regularly.
Forward-looking Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: Various statements made in this release are forward-looking and
involve a number of risks and uncertainties. All statements that address
activities, events or developments that we intend, expect or believe may
occur in the future are forward-looking statements. The following are
some of the factors that could cause actual results to differ materially
from the forward-looking statements: execution of buying strategy and
inventory management; operational expansion and management of large size
and scale; customer trends and preferences; market, banner, geographic
and category expansion; marketing, advertising and promotional programs;
competition; personnel recruitment and retention and costs of labor;
global economic conditions and consumer spending; data security;
information systems and new technology; seasonal influences; adverse or
unseasonable weather; serious disruptions and catastrophic events;
corporate and banner reputation; merchandise quality and safety;
expanding international operations; merchandise importing; commodity
pricing; fluctuations in currency exchange rates; fluctuations in
quarterly operating results and market expectations; acquisitions,
business investments and divestitures; compliance with laws, regulations
and orders; changes in laws and regulations; outcomes of litigation,
legal matters and proceedings; tax matters; real estate activities; cash
flow and other factors that may be described in our filings with the
Source:
The TJX Companies, Inc.
Sherry Lang or Debra McConnell
Global
Communications
(508) 390-2323