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SECURITY AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D) of The
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): May 26, 2004
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THE TJX COMPANIES, INC.
(Exact name of Registrant as specified in charter)
Delaware 1-4908 44-2207613
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(State or other jurisdiction (Common File (I.R.S. employer
of incorporation) Number) identification No.)
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770 Cochituate Road, Framingham, MA 01701
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(Address of Principal Executive Offices) (Zip Code)
(508) 390-1000
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Registrant's Telephone Number (including area code)
N/A
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(Former name or former address,
if changed since last report)
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ITEM 5. OTHER EVENTS
On May 24, 2004, The TJX Companies, Inc. issued the press
release filed herewith as Exhibit 99.1 and incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
Exhibit Number Title
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99.1 Press Release, dated May 24, 2004 of The TJX Companies, Inc.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
THE TJX COMPANIES, INC.
/s/ Jeffrey G. Naylor
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Jeffrey G. Naylor
Senior Executive Vice President and
Chief Financial Officer
Dated: May 26, 2004
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release, dated May 24, 2004 of The TJX Companies, Inc.
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Exhibit 99.1
The TJX Companies, Inc. Completes $1 Billion Share Repurchase Program;
Announces New $1 Billion Program
FRAMINGHAM, Mass.--(BUSINESS WIRE)--May 24, 2004--The TJX
Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel
and home fashions in the U.S. and worldwide, today announced that its
Board of Directors has approved a new multi-year program that
authorizes the repurchase of up to $1 billion of TJX common stock. At
current prices, this would represent approximately 8.3% of the
Company's outstanding common shares.
The Company also announced the completion of a $1 billion stock
repurchase program, originally authorized in July 2002, which resulted
in the purchase of 50.5 million shares of its common stock. This marks
the fifth share repurchase program completed by the Company since
1997, over which time the Company has spent $3.25 billion on the
repurchase of TJX stock.
Edmond English, President and Chief Executive Officer of The TJX
Companies, Inc. commented, "This authorization to continue our
aggressive share repurchase program reflects our confidence in the
strength of our business and its future growth. We continue to have
substantial growth opportunities in our younger concepts as well as
our more established business units. Our strong operations continue to
achieve excellent returns on investment, which allow us to fully fund
our Company's growth while generating significant excess cash to
pursue our buyback program. Repurchasing TJX stock produces solid
returns on our capital and allows us to provide significant value to
our shareholders."
Repurchases may be made from time to time on the open market or in
negotiated transactions. The repurchase program has no time limit.
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. The Company
operates 753 T.J. Maxx, 679 Marshalls, 185 HomeGoods, and 102 A.J.
Wright stores, as well as 31 Bob's Stores, in the United States. In
Canada, the Company operates 162 Winners and 31 HomeSense stores, and
in Europe, 148 T.K. Maxx stores. TJX's press releases and financial
information are also available on the Internet at www.tjx.com.
SAFE HARBOR STATEMENTS 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: our ability to continue successful expansion of our store
base; risks of expansion; our ability to successfully implement our
opportunistic inventory strategies and to effectively manage our
inventories; consumer confidence, demand, spending habits and buying
preferences; effects of unseasonable weather; competitive factors;
factors affecting availability of store and distribution center
locations on suitable terms; factors affecting our recruitment and
employment of associates; factors affecting expenses; success of our
acquisition and divestiture activities; our ability to successfully
implement technologies and systems; our ability to continue to
generate adequate cash flows; general economic conditions; potential
disruptions due to wars, natural disasters and other events beyond our
control; changes in currency and exchange rates; import risks; adverse
outcomes for any significant litigation; changes in laws and
regulations and accounting rules and principles; and other factors
that may be described in our filings with the Securities and Exchange
Commission. We do not undertake to publicly update or revise our
forward-looking statements even if experience or future changes make
it clear that any projected results expressed or implied in such
statements will not be realized.
CONTACT: The TJX Companies, Inc.
Sherry Lang, Vice President
Investor and Public Relations
(508) 390-2323