TJX Oct. Sales Dip 2%
Framingham-based discount retailer TJX Cos. Inc. reported October sales of $1.48 billion, a 2 percent decrease compared to the same period a year ago.
For the 39 weeks ended Nov. 1, the company posted sales of $13.7 billion, a 5 percent increase over the same period last year. Same-store sales were down 6 percent for the month, the company said, "driven by the precipitous drop in foreign currency exchange rates."
Excluding the impact of the weak dollar, the company said same-store sales were down 1 percent compared to Oct. 2007.
Although sales were down in October, the company said customer traffic increased. The company said it would keep inventories lean and expenses under strict control as it rides out the sputtering economy.
TJX operates TJ Maxx, Marshalls, HomeGoods and other discount retail stores.
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