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TJX same-store sales rose 3 percent in January

NEW YORK
Thu Feb 7, 2008 8:53am EST

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NEW YORK (Reuters) - TJX Cos. Inc. (TJX.N) said on Thursday sales at stores open at least a full year rose 3 percent in January, just below the company's expectations.

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Analysts, on average, had been expecting the off-price retailer to post a same-store sales increase of 3.7 percent, according to Reuters Estimates.

Framingham, Massachusetts-based TJX, which operates the T.J. Maxx and Marshalls chains, said its total sales for the four weeks ended February 2 were $1.13 billion, up 7 percent from $1.06 billion a year ago.

TJX, like other off-price retailers, buys excess merchandise in bulk from manufacturers below wholesale prices.

(Reporting by Martinne Geller; Editing by Derek Caney)
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