(Source: Business Wire)The TJX Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today raised its outlook for third quarter and full year sales and earnings and provided updated information on its growth model for the next three fiscal years. The Company is making this updated information available in advance of TJX's previously announced event for analysts and institutional investors, at which members of management will make presentations about the Company's businesses and operations.

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.