TJX Cos., the Framingham retailer that operates such chains as T.J. Maxx, Marshalls, and HomeGoods, said that March sales at stores open at least a year rose 12 percent and added that it is significantly raising its first-quarter and full-year outlook.
Sales at stores open at least a year - sometimes referred to as same-store sales or comparable store sales - are closely watched by Wall Street analysts as an indication of a retailers health. (The photo at right was taken from a Marshalls website.)
The company's press release included a statement from president and chief executive Carol Meyrowitz, who noted that March same-store sales "significantly exceeded our expectations."
TJX's press release added: "For the first quarter of fiscal 2011, the company’s raised guidance of $.76-$.79 in earnings per share from continuing operations would represent an increase of 55 percent-61 percent over $.49 last year. This range is based upon a raised expectation for first quarter consolidated comparable store sales growth of 8 percent-9 percent. With this updated outlook for the first quarter, the company is raising its guidance for full year fiscal 2011 earnings per share from continuing operations to the range of $3.17-$3.31, up 12 percent-17 percent over $2.84 in fiscal 2010."