FRAMINGHAM, Mass., Oct 09, 2008 (BUSINESS WIRE) -- The TJX Companies, Inc. (NYSE: TJX) today reported September 2008 sales
results. Sales for the five-week period ended October 4, 2008, were
$1.83 billion, up 3% over the $1.78 billion achieved during the
five-week period ended October 6, 2007. For the 35 weeks ended October
4, 2008, sales reached $12.2 billion, up 6% over the $11.5 billion
achieved during the 35 weeks ended October 6, 2007. Consolidated
comparable store sales for the five-week period ended October 4, 2008,
decreased 1% compared to last year. Foreign currency exchange rates
negatively impacted September comparable store sales by two percentage
points, which was unanticipated in the Company's
prior guidance. Excluding the impact of foreign currency exchange rates,
consolidated comparable store sales increased 1% for the month. For the
35-week period ended October 4, 2008, consolidated comparable store
sales increased 3% over last year, with a neutral impact from foreign
currency exchange rates.

Carol Meyrowitz, President and Chief Executive Officer of The TJX
Companies, Inc., stated, "Although September
consolidated comparable store sales were below plan, customer
transactions were up across virtually all divisions. Also, despite
economic concerns internationally, our divisions in these markets had
strong performance. With the volatile economic environment in the U.S.
and a generally warmer September than last year, we were pleased to see
sales trends in the U.S. dramatically improve at the end of the month as
the weather turned more seasonable in key regions. While we believe that
consumers are worried, we also believe that with the right execution of
our resilient business model, our financial strength, extremely well
controlled inventories, strong merchandise margins, and the excellent
values we offer our customers, we are in an excellent position going
into the holiday season."

Updated Guidance

The Company is lowering its guidance for third quarter earnings per
share from continuing operations to the range of $.55 to $.58 primarily
to reflect lower-than-expected sales. This range is based upon estimated
consolidated comparable store sales growth for the quarter of
approximately flat to 1%. It assumes a negative impact from foreign
exchange rates of $.01 per share and represents a 2% to 7% increase over
the $.54 in diluted earnings per share in the prior year.

Reflecting this updated guidance, the Company now expects full year
Fiscal 2009 diluted earnings per share from continuing operations to be
in the range of $2.26 to $2.31 with consolidated comparable store sales
growth of approximately 2%. This guidance includes an expected $.09 per
share benefit from the 53rd week in the Company's
Fiscal 2009 fourth quarter and the $.02 per share benefit from
unanticipated tax-related adjustments in the first quarter of Fiscal
2009. Last year's results included a charge of
$.25 per share related to the previously announced computer
intrusion(s). Excluding these items, full year Fiscal 2009 adjusted
diluted earnings per share from continuing operations are estimated to
be in the range of $2.15 to $2.20, an increase of 11% to 14% over the
prior year's adjusted $1.93.

Impact of Foreign Currency Exchange
Rates

In addition to its U.S. businesses, the Company operates stores in
Canada, the U.K., Ireland, and Germany, and is therefore affected by
foreign exchange rate fluctuations. It is important to note that
translation of foreign currency generally affects the Company's
sales more than profit, as sales and expenses are translated at
approximately the same rates. As noted above, foreign exchange rates
negatively impacted consolidated comparable store sales in September by
two percentage points. While the Company anticipates foreign exchange
rates to negatively impact third quarter consolidated comparable store
sales by approximately two percentage points, the impact on earnings per
share from continuing operations is expected to be $.01 per share, as
noted above.

About The TJX Companies, Inc.

The TJX Companies, Inc. is the leading off-price retailer of apparel and
home fashions in the U.S. and worldwide. The Company operates 864 T.J.
Maxx, 805 Marshalls, 309 HomeGoods, and 134 A.J. Wright stores in the
United States. In Canada, the Company operates 199 Winners, 75
HomeSense, and 2 STYLESENSE stores, and in Europe, 233 T.K. Maxx and 6
HomeSense stores. TJX's press releases and
financial information are also available on the Internet at www.tjx.com.

September and October Fiscal 2009
Recorded Calls

A recorded message with more detailed information regarding TJX's
September 2008 sales results, operations and business trends is
available via the Internet at www.tjx.com,
or by calling (703) 736-7248 through Thursday, October 16, 2008. The
Company expects to release its October 2008 sales results on Thursday,
November 6, 2008, at approximately 8:15 a.m. ET. Concurrent with that
press release, a recorded message with more detailed information
regarding TJX's October sales results,
operations and business trends will be available via the Internet at www.tjx.com,
or by calling (703) 736-7248 through Thursday, November 13, 2008.

Third Quarter Fiscal 2009 Conference
Call

Additionally, the Company expects to release its third quarter earnings
on Tuesday, November 11, 2008, before 9:30 a.m. ET. At 11:00 a.m. ET
that day, Carol Meyrowitz, President and Chief Executive Officer of TJX,
will hold a conference call with stock analysts to discuss the Company's
third quarter Fiscal 2009 sales results, operations and business trends.
A real-time webcast of the call will be available at www.tjx.com.
A replay of the call will also be available at www.tjx.com
or by dialing (866) 367-5577 through Tuesday, November 18, 2008.

Archived versions of the Company's recorded
messages and conference calls are available at www.tjx.com
after they are no longer available by telephone. The Company routinely
posts information that may be important to investors in the Investor
Information section at www.tjx.com.
The Company encourages investors to consult that section of its website
regularly.

SAFE HARBOR STATEMENT 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: matters relating to the computer
intrusion(s) including potential losses that could differ from our
reserve, potential effects on our reputation and sales, compliance with
orders, and other consequences to the value of our Company and related
value of our stock; our ability to successfully expand our store base
and increase comparable store sales; risks of expansion and costs of
contraction; risks inherent in foreign operations; our ability to
successfully implement our opportunistic buying strategies and to manage
our inventories effectively; successful advertising and promotion;
consumer confidence, demand, spending habits and buying preferences;
effects of unseasonable weather; competitive factors; availability of
store and distribution center locations on suitable terms; our ability
to recruit and retain associates; factors affecting expenses; success of
our acquisition and divestiture activities; our ability to successfully
implement technologies and systems and protect data; our ability to
continue to generate adequate cash flows; our ability to execute our
share repurchase program; availability and cost of financing; general
economic conditions, including fluctuations in the price of oil;
potential disruptions due to wars, natural disasters and other events
beyond our control; changes in currency and exchange rates; issues with
merchandise quality and safety; import risks; adverse outcomes for any
significant litigation; compliance with and changes in laws and
regulations and accounting rules and principles; adequacy of reserves;
asset impairments and other charges; closing adjustments; failure to
meet market expectations; 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.

SOURCE: The TJX Companies, Inc.

The TJX Companies, Inc. 
Sherry Lang 
Senior Vice President 
Investor and Public Relations 
(508) 390-2323

Copyright Business Wire 2008