The TJX Companies, Inc. Raises Third Quarter and Full Year Outlook; Updates Long-Term Growth Plans

Fiscal 2010 Third Quarter and Full Year Outlook

With October sales trending significantly above the Company's expectations, TJX now expects comparable store sales to increase in October by 9% to 11% both on a consolidated basis and at The Marmaxx Group (the internal combination of T.J. Maxx and Marshalls). For the third quarter of Fiscal 2010, the Company now expects diluted earnings per share from continuing operations to be in the range of $.77 to $.79 compared with $.58 in the prior year. This range is based upon estimated comparable store sales growth for the third quarter of approximately 7% on a consolidated basis and 8% to 9% for The Marmaxx Group. This range is also based upon an estimated pretax margin of 10.2% to 10.4% for TJX on a consolidated basis, and an estimated segment profit margin of 11.8% to 12.0% at The Marmaxx Group. It is important to note that comparisons of projected third quarter results to the prior year are impacted by a non-operating item last year and by foreign currency exchange rates. Please go to the Reconciliation of Financials section of the Company's website at www.tjx.com for details on the effects of these items on comparability.

The Company has also raised its estimate for full year Fiscal 2010 results, reflecting the expected stronger third quarter. For the full year Fiscal 2010, TJX now expects diluted earnings per share from continuing operations in the range of $2.46 - $2.54, compared with $2.08 per share last year. This range is based upon estimated comparable store sales growth for the full year of 4% to 5% both on a consolidated basis and for The Marmaxx Group. This range is also based upon an estimated pretax margin of 8.6% to 8.8% for TJX on a consolidated basis, and an estimated segment profit margin of 10.7% to 10.9% at The Marmaxx Group. The outlook for the fourth quarter remains unchanged from the most recent forecast provided by the Company, which estimates diluted earnings per share from continuing operations to be in the range of $.60 - $.66. It is important to note that comparisons of projected full year results to the prior year are impacted by certain items and foreign currency exchange rates. Please go to the Reconciliation of Financials section of the Company's website at www.tjx.com for details on the effects of these items on comparability.

Updated Information in Long-Term Growth Plans

The Company's long-term earnings per share growth target for the three fiscal years ending Fiscal 2013 remains 12%, which is unchanged from previous models. However, it is important to note that, as indicated above, the Company expects to significantly exceed this rate of growth in the current fiscal year, and also expects to exceed this annual rate of growth for the five-year period from Fiscal 2006 to Fiscal 2010.

The Company has updated several of the components of its long-term growth model with respect to this three-year period. In particular, the Company has increased its expectations for square footage growth for this period to the 4% to 5% range, reflecting the strong financial performance across all businesses and updated projections for expansion in Europe.

Additionally, the Company has updated its outlook for the short and long term segment profit margin of The Marmaxx Group, the Company's largest division, for this period. The updated full year Fiscal 2010 outlook of 10.7% to 10.9% (see above) is greater than the Company's prior estimates of this division's profit potential of 9% to 10%. The Company believes that Marmaxx can sustain this new level of profitability, and now estimates The Marmaxx Group's segment profit margin to ultimately fall in the 10.5% to 11.5% range for the three-year period.

Important Information at Website

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.

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 885 T.J. Maxx, 816 Marshalls, 323 HomeGoods, and 147 A.J. Wright stores in the United States. In Canada, the Company operates 207 Winners, 77 HomeSense and 3 STYLESENSE stores, and in Europe, 249 T.K. Maxx and 12 HomeSense stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com.

Forward-looking Statement

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: conditions of global economies and credit and financial markets; foreign currency exchange rates; execution of buying and inventory management; expansion of operations; identification of customer trends and preferences; fluctuation in results; risks of new market/category expansion; implementation of marketing, advertising and promotional programs; losses from and consequences of computer intrusion(s) and data theft, loss or misuse; seasonal influences; risks of operating a large, multi-division, multi-national business; unseasonable weather; competition; retention of personnel; acquisitions and divestitures; operation and implementation of information systems and technology; protection of data; level of cash flows generated; factors affecting consumer spending; merchandise quality and safety; import risks; risks of foreign operations; changes in laws and regulations; outcomes of litigation and proceedings; risks of real estate ownership and leasing; stock price fluctuations 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