Exhibit 99.2
The TJX Companies, Inc. Updates Information on Computer Systems Intrusion
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Feb. 21, 2007--The TJX
Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel
and home fashions in the U.S. and worldwide, today reported its
updated findings from the Company's ongoing investigation of its
previously announced unauthorized intrusion into its computer systems.
Carol Meyrowitz, President and Chief Executive Officer of The TJX
Companies, commented, "Let me begin by telling our customers
personally how much I regret any problems or inconvenience they may
have experienced as a result of the unauthorized intrusion into our
computer system. Our investigation is ongoing, and we are providing an
update today on new developments. We are dedicating substantial
resources to investigating and evaluating the intrusion which, given
the nature of the breach, the size and international scope of our
operations, and the complexity of the way credit card transactions are
processed, is, by necessity, taking time. We have a very large team of
people working on the investigation. For example, the leading computer
security experts working with us have over 50 experts committed to
this project. Additionally, with their help, we have strengthened the
security of our computer systems. Based on everything we have done, I
believe customers should feel safe shopping in our stores. We value
our customers' trust and I want our customers to know that I am deeply
committed to continuing to address the security of our computer
systems, and that TJX will provide periodic updates as we learn more."
The following are new findings based on TJX's current information
from its ongoing investigation of the previously announced
unauthorized intrusion into its computer system:
Timing
While the Company previously believed that the intrusion took
place only from May 2006 to January 2007, TJX now believes its
computer system was also intruded upon in July 2005 and on various
subsequent dates in 2005. TJX continues to believe there was no
compromise of customer data after mid-December 2006.
Credit and Debit Card Data
In addition to the customer data the Company previously reported
as compromised, the Company now believes that information regarding
portions of the credit and debit card transactions at its U.S., Puerto
Rican and Canadian stores (excluding debit card transactions with
cards issued by Canadian banks) from January 2003 through June 2004
was compromised. The Company had previously reported that the 2003
transaction data had potentially been accessed. For most of the
transactions from September 2003 through June 2004, some of the card
information was masked at the time of the transaction, making that
portion unavailable to the intruder.
Names and addresses were not included with the credit and debit
card data believed compromised. Debit card personal identification
numbers (PINs), information from transactions at Bob's Stores, and
transactions made with debit cards issued by Canadian banks are not
believed to have been compromised.
Drivers' License Numbers
TJX has found additional drivers' license numbers together with
related names and addresses that it believes were compromised. This
information was associated with unreceipted merchandise returns at its
T.J. Maxx, Marshalls, and HomeGoods stores in the U.S. and Puerto Rico
for the last four months of 2003 and May and June 2004. TJX intends to
notify customers it is able to identify whose drivers' license
numbers, names and addresses were included in the information believed
to have been compromised.
T.K. Maxx
The Company had previously reported that it was concerned that
T.K. Maxx customer transactions in the UK and Ireland could be
involved. TJX's investigation has found evidence of an intrusion to
the portion of its computer system that processes T.K. Maxx customer
transactions. While TJX continues to suspect that customer information
may have been compromised from this portion of its network, the
Company has not been able to confirm any unauthorized access to
customer data or any theft of customer data from T.K. Maxx.
Important Information for Customers
-- TJX has continued to cooperate with law enforcement since the
probability of an intrusion was first confirmed as well as
with the credit card companies and banks that process its
transactions.
-- TJX has established a special helpline for its customers who
have questions about this situation. Customers may reach the
helpline toll-free at 866-484-6978 in the United States,
866-903-1408 in Canada, and 0800 77 90 15 in the United
Kingdom and Ireland.
-- TJX will also provide updated information for customers on its
website, www.tjx.com, including tips on preventing credit and
debit card fraud and other steps customers may take to protect
their personal information.
-- TJX strongly recommends that customers carefully review their
account statements and immediately notify their credit or
debit card company or bank if they suspect fraudulent use.
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 821 T.J. Maxx, 748 Marshalls, 270 HomeGoods, and 129 A.J.
Wright stores, as well as 36 Bob's Stores, in the United States. In
Canada, the Company operates 184 Winners and 68 HomeSense stores, and
in Europe, 210 T.K. Maxx stores. TJX's press releases and financial
information are also available on the Internet at www.tjx.com.
SAFE HARBOR STATEMENTS 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, including
projections of earnings per share and same store sales, are
forward-looking statements. The following are some of the factors that
could cause actual results to differ materially from the
forward-looking statements: the results and effects of the intrusion
into our computer system including the outcome of our investigation,
the extent of customer information compromised and consequences to our
business including effects on sales and liabilities and costs in
connection with this intrusion; our ability to successfully expand our
store base and increase same store sales; risks of expansion and costs
of contraction; our ability to successfully implement our
opportunistic inventory strategies and to effectively manage our
inventories; successful advertising and promotion; consumer
confidence, demand, spending habits and buying preferences; effects of
unseasonable weather; competitive factors; factors affecting
availability of store and distribution center locations on suitable
terms; factors affecting our recruitment and employment of 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 the share repurchase program;
availability and cost of financing; general economic conditions,
including gasoline prices; potential disruptions due to wars, natural
disasters and other events beyond our control; changes in currency and
exchange rates; import risks; adverse outcomes for any significant
litigation; changes in laws and regulations and accounting rules and
principles; adequacy of reserves; closing adjustments; effectiveness
of internal controls; 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.
CONTACT: The TJX Companies, Inc.
Sherry Lang
Senior Vice President
Investor and Public Relations
(508) 390-2323