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Customer traffic helps propel TJX quarterly, fiscal year growth

Retail Editor 2 -- Home Textiles Today, February 27, 2013

Framingham, Mass. - For the fifth consecutive year, TJX generated higher customer traffic - and the retailer is now capturing a bigger share of younger consumers, male and female, executives said.
"Customer traffic was up across all of our divisions as our off-price shopping experience continued to resonate with customers, even with the growth in online shopping in the retail industry," said ceo Carol Meyrowitz during the company's quarterly conference call with analysts this morning.
For the fourth quarter ended Feb. 2, net income jumped 32% to $605 million, or 82 cents per share. Total sales rose 15% to $7.7 billion, with consolidated comps on a 13-week basis up 4% on top of last year's 7% increase.
In the U.S., sales at the Marmaxx division rose 13% to $4.895 billion, with comps up 4%. Home Good's fourth quarter sales climbed 23% to $826 million, with comps up 5%.
For the full fiscal year, net income was up 28% (excluding non-comparable items) to $1.9 billion, or $2.55. Sales increased 12% to $25.9 billion, with consolidated comps up 7%.
At the Marmaxx division, fiscal year sales rose 11% to $15.4 billion, with comps up 6%. Home Goods sales were up 19% to $2.66 billion, with a 7% comp increase.

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