TJX same-store sales rose 3% in November
TJX Cos., the Framingham company that operates such off-price retail chains as T.J. Maxx, Marshalls, HomeGoods, and AJWright, said its same-store sales rose 3 percent for November.
Same-store sales, which are sales at stores open at least a year, are considered by Wall Street to be an important by barometer of a retailer's performance.
In a press release, TJX said its November sales figures were at the high end of its expectations.
Total sales for November were $2 billion, up 7 percent from November 2009, the company said.
TJX refers to same-store sales as "comparable store sales."
In a statement, TJX president and chief executive Carol Meyrowitz said: "We are pleased that November comparable store sales on both a consolidated basis and at the Marmaxx Group were at the high end of our estimated range. Further, in both cases, these increases were achieved on top of high-single-digit comp store sales increases last year. Business throughout the Thanksgiving week and weekend was brisk, and customer traffic continued to be up over strong increases last year, underscoring our belief that value is key for shoppers this holiday season. We are in a better-than-ever position to offer customers a continuous, fresh flow of gift-giving items in many categories, with our inventory levels giving us tremendous ability to take advantage of the great brands we are seeing in the marketplace."