The TJX Companies, Inc. (TJX) today reported December 2008 sales results. Sales for the five-week period ended January 3, 2009, were $2.37 billion, a 3% decrease from the $2.43 billion achieved during the five-week period ended January 5, 2008. For the 48 weeks ended January 3, 2009, sales reached $17.7 billion, up 2% over the $17.2 billion achieved during the 48 weeks ended January 5, 2008. Sales for both the month and year-to-date include the negative impact of foreign currency translation (see below). Consolidated comparable store sales for the five-week period ended January 3, 2009, were flat compared to last year on a constant currency basis, which we believe better reflects our operating performance, versus a 1% increase on the same basis last year. For the 48-week period ended January 3, 2009, consolidated comparable store sales on a constant currency basis increased 1% from last year versus a 2% increase on the same basis last year.

Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “Despite the difficult economic conditions as well as snowstorms in many parts of the U.S., customer traffic was strong leading up to and following the holidays. Our value proposition continued to resonate with customers against an extremely promotional retail environment. We are pleased with our marketing strategies and the flow of fresh, gift oriented merchandise throughout the holiday season. As we approach our year-end, inventories are in good shape and we are ready to move forward with new merchandise at compelling values.”

Impact of Foreign Currency Exchange Rates

For the five-week period ended January 3, 2009, foreign currency exchange rates had a five percentage-point negative impact on consolidated comparable store sales. Including this negative impact, consolidated comparable store sales in U.S. dollars were down 5% for the period versus a 3% increase last year, which included a two percentage-point positive impact from foreign exchange. For the 48-week period ended January 3, 2009, the effect of foreign currency exchange rates had a two percentage-point negative impact on consolidated comparable store sales. Including this negative impact, consolidated comparable store sales in U.S. dollars were down 1% for the period versus a 4% increase last year, which included a two percentage-point positive impact from foreign exchange. Beginning in Fiscal Year 2010, the Company will report comparable store sales results on a constant currency basis only, which it believes more closely reflects its operating performance and is consistent with the reporting practices of other multi-national retailers.

Updated Guidance for January, Fourth Quarter and Full Year Fiscal 2009

The Company now expects a consolidated comparable store sales decrease of -2% to -5% in January on a constant currency basis, which excludes an anticipated five percentage-point negative impact from foreign currency exchange rates.

The Company now expects fourth quarter reported diluted earnings per share from continuing operations to be in the range of $.48 to $.52. This anticipated range reflects soft November and December sales results as well as the Company’s revised January sales guidance. This range also includes an expected $.09 per share benefit from the 53rd week in the Company’s Fiscal 2009 calendar and a net $.11 per share negative impact from foreign currency exchange rates, including the translation of foreign earnings into U.S. dollars and the reversal of the mark-to-market adjustment on inventory hedging instruments which benefited earnings results in the third quarter. In addition, this range reflects an expected $.01 per share benefit due to an anticipated reduction in the reserve related to the previously announced computer intrusion(s). This expected range is based upon a revised estimate for a consolidated comparable store sales decrease for the fourth quarter of approximately -3% on a constant currency basis, which excludes an anticipated six percentage-point negative impact from foreign currency exchange rates.

The Company now expects reported diluted earnings per share from continuing operations for the full Fiscal 2009 year to be in the range of $1.97 to $2.01. This range includes an expected $.09 per share benefit from the 53rd week in the Company’s Fiscal 2009 calendar and a net $.08 per share negative impact from foreign currency exchange. This range also includes a net $.04 per share positive impact of non-operating items, including a $.02 per share tax-related benefit (detailed in the Q1FY09 Form 10-Q), a $.01 per share third quarter benefit due to a reduction in the reserve related to the previously announced computer intrusion(s) (detailed in the Q3FY09 Form 10-Q), as well as the anticipated fourth quarter $.01 per share benefit related to the computer intrusion(s) reserve referred to in the above paragraph. Excluding the net $.04 per share benefit of these non-operating items, the Company now expects adjusted diluted earnings per share from continuing operations for the full Fiscal 2009 year to be in the range of $1.93 to $1.97. This anticipated range is based upon revised estimated consolidated comparable store sales of approximately flat to up 1% for the full year on a constant currency basis, which excludes an anticipated one-and-a-half percentage-point negative impact from foreign currency exchange rates.

The Company’s guidance for the fourth quarter and full Fiscal 2009 year reflects the minimal earnings-per-share impact of its decision to spend less than it anticipated for the repurchasing of its shares due to its approach to managing through the current, uncertain economic environment.

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 875 T.J. Maxx, 809 Marshalls, 318 HomeGoods, and 135 A.J. Wright stores in the United States. In Canada, the Company operates 200 Winners, 75 HomeSense, and 2 STYLESENSE stores, and in Europe, 235 T.K. Maxx and 7 HomeSense stores. TJX’s press releases and financial information are also available on the Internet at www.tjx.com.

December and January Fiscal 2009 Recorded Calls

A recorded message with more detailed information regarding TJX’s December 2008 sales results, operations and business trends is available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, January 15, 2009. The Company expects to release its January 2009 sales results on Thursday, February 5, 2009, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX’s January sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, February 12, 2009.

Archived versions of the Company’s recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone. 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.

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: effects of current economic environment; matters relating to the computer intrusion(s) including potential losses that could differ from our reserve, potential effects on our reputation and sales, compliance with orders, and other consequences to the value of our Company and related value of our stock; our ability to successfully expand our store base and increase comparable store sales; risks of expansion and costs of contraction; risks inherent in foreign operations; our ability to successfully implement our opportunistic buying strategies and to manage our inventories effectively; successful advertising and promotion; consumer confidence, demand, spending habits and buying preferences; effects of unseasonable weather; competitive factors; availability of store and distribution center locations on suitable terms; our ability to recruit and retain associates; factors affecting expenses; success of our acquisition and divestiture activities; our ability to successfully implement technologies and systems and protect data; our ability to continue to generate adequate cash flows; our ability to execute our share repurchase program; availability and cost of financing; general economic conditions, including fluctuations in the price of oil; potential disruptions due to wars, natural disasters and other events beyond our control; changes in currency and exchange rates; issues with merchandise quality and safety; import risks; adverse outcomes for any significant litigation; compliance with and changes in laws and regulations and accounting rules and principles; adequacy of reserves; asset impairments and other charges; closing adjustments; failure to meet market expectations; 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.