THE TJX COMPANIES, INC. REPORTS VERY STRONG U.S. OPEN-ONLY COMP STORE SALES
GROWTH OF 13% FOR Q4 FY22 VS. Q4 FY20; FY22 U.S. OPEN-ONLY COMP SALES UP 17% VS. FY20;
ANNOUNCES PLANS TO INCREASE DIVIDEND 13% AND BUY BACK $2.25 TO $2.50 BILLION OF
STOCK
Wednesday, February 23, 2022
Page 6
Fiscal 2022 Open-Only Comp Store Sales
Due to the temporary closing of stores as a result of the COVID-19 global pandemic, the Company’s historical
definition of comp store sales is not applicable for the fourth quarter and full year Fiscal 2022. In order to provide a
performance indicator for its stores, the Company has been temporarily reporting open-only comp store sales. The
Company’s open-only comp store sales calculation includes stores initially classified as comp stores at the beginning of
Fiscal 2021. This measure reports the sales increase or decrease of these stores for the days the stores were open in the
fourth quarter and full year Fiscal 2022 against sales for the same days in Fiscal 2020, prior to the emergence of the
global pandemic. The Company does not intend to report open-only comparable store measures in Fiscal 2023.
Fiscal 2023 U.S. Comparable Store Sales
For Fiscal 2023, the Company intends to return to its historical definition of comparable store sales. While stores
in the U.S. were open for all of Fiscal 2022, a significant number of stores in TJX Canada and TJX International
(Europe and Australia) experienced COVID-related temporary store closures and government-mandated shopping
restrictions during Fiscal 2022. Therefore, the Company cannot measure year-over-year comparable store sales with
Fiscal 2022 in these geographies in a meaningful way. As a result, the comparable stores included in the Fiscal 2023
measure will consist of U.S. stores only, which, for clarity, the Company intends to refer to as U.S. comparable store
sales and will be calculated against sales for the comparable periods in Fiscal 2022.
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