TJX sales rose 15 percent in November
TJX Cos. reported strong November results, saying that sales for the month were $1.8 billion, up 15 percent over the same month last year.
The Framingham retailer operates such chains as T.J. Maxx, Marshalls, HomeGoods, and A.J. Wright; the chains sell apparel and home-fashion items at prices below what department stores charge for similar merchandise.
A retail metric that Wall Street scrutinizes closely is something called same-store sales - sales at stores open at least a year.
At TJX, November same-store sales rose 8 percent, said the company, which refers to same-store sales as "consolidated comparable store sales."
(The AP reported that analysts surveyed by Thomson Reuters had higher expectations for TJX, predicting a 9.3 percent increase in November sales at stores open at least a year.)
TJX's press release included a statement from Carol Meyrowitz, company president and chief executive.
"We are very pleased with our November consolidated comparable store sales increase of 8 percent, which was achieved despite unseasonably warm weather during much of the month," she said. "The Marmaxx Group, consisting of T.J. Maxx and Marshalls, posted a strong comparable store sales increase of 9 percent for the month. Business throughout the Thanksgiving week and weekend was strong, and our fourth quarter is off to a great start. We are confident in our momentum, and we will be frequently shipping fresh, exciting selections at excellent values to our stores throughout the holiday selling season to meet consumers' gift-giving needs. With the important month of December still ahead of us, we are maintaining our guidance for fourth quarter Fiscal 2010 earnings per share from continuing operations to be in the range of $.65 to $.71."
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