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TJX CONTACT : Debra McConnell Global Communications ( 508 ) 390-2323 THE TIX COMPANIES , INC . ● ● THE TJX COMPANIES , INC . REPORTS Q1 FY22 RESULTS WELL ABOVE PLAN WITH OVERALL OPEN - ONLY COMP STORE SALES UP 16 % VERSUS Q1 FY20 AND EARNINGS PER SHARE OF $ .44 NEWS RELEASE FOR IMMEDIATE RELEASE Wednesday , May 19 , 2021 Q1 FY22 overall open - only comp store sales increased 16 % compared to Q1 FY20 Q1 FY22 diluted earnings per share were $ .44 Q1 FY22 net sales were $ 10.1 billion , an increase of 129 % compared to Q1 FY21 and an increase of 9 % compared to Q1 FY20 The Company estimates that temporary store closures for approximately 14 % of the first quarter , primarily stores in Europe and Canada , negatively impacted Q1 FY22 sales by approximately $ 1.1 billion to $ 1.2 billion and EPS by approximately $ .21 to $ .24 ( see below ) In April , redeemed $ 750 million of debt at par that was due to mature in June 2021 Announcing make - whole calls that will reduce outstanding debt by an additional $ 2.0 billion ( see below ) For the start of Q2 FY22 , overall open - only comp store sales trends remain similar to Q1 FY22 Framingham , MA -- The TJX Companies , Inc. ( NYSE : TJX ) , the leading off - price apparel and home fashions retailer in the U.S. and worldwide , today announced sales and operating results for the first quarter ended May 1 , 2021 . Net sales for the first quarter of Fiscal 2022 were $ 10.1 billion , an increase of 129 % versus the first quarter of Fiscal 2021 in which stores were closed for approximately 50 % of the quarter due to the COVID - 19 global pandemic ( see table below ) . Net sales for the first quarter of Fiscal 2022 increased 9 % versus the first quarter of Fiscal 2020. Overall open - only comp store sales ( defined below ) increased 16 % compared to the first quarter of Fiscal 2020. Net income for the first quarter was $ 534 million and diluted earnings per share were $ .44 . The Company's results for the first quarter of Fiscal 2022 were negatively impacted by the temporary closure of some of its stores due to the COVID - 19 global pandemic . Although the Company's stores in the U.S. were open for the first quarter , stores in Europe were closed for approximately 76 % of the first quarter and stores in Canada were closed for about 25 % of the quarter . In total , the Company had stores closed for approximately 14 % of the first quarter due to the COVID - 19 global pandemic ( see table below ) . The Company estimates that these European and Canadian closures may have resulted in approximately $ 1.1 billion to $ 1.2 billion in lost sales during the first quarter of Fiscal 2022. This range of estimated lost sales assumes all European and Canadian stores operated at similar open - only comp store sales trends as the fourth quarter of Fiscal 2021 and first quarter of Fiscal 2022. Based on management's estimate of profit dollars on this range of lost sales , the Company estimates that first quarter Fiscal 2022 earnings per share were negatively impacted by approximately $ .21 to $ .24 . -MORE