The TJX Companies, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsTJX Companies is the leading off-price apparel and home fashions retailer in the U.S. and worldwide, with over 5,200 stores and six e-commerce sites.
What they do
TJX operates four segments: Marmaxx (TJ Maxx, Marshalls, Sierra in the U.S.), HomeGoods (HomeGoods and Homesense in the U.S.), TJX Canada (Winners, HomeSense, Marshalls), and TJX International (TK Maxx and Homesense in Europe and Australia). It sells brand name and designer merchandise at prices generally 20% to 60% below full-price retailers' regular prices, using an opportunistic buying model.
Revenue drivers
- Marmaxx (U.S.) — Largest segment; Q1 FY27 net sales $8.65 billion, +7% year-over-year; includes TJ Maxx, Marshalls, Sierra stores and e-commerce; comp sales +6%.
- HomeGoods (U.S.) — Q1 FY27 net sales $2.51 billion, +11% year-over-year; comp sales +9% (highest of all divisions); operates HomeGoods and Homesense stores.
- TJX International (Europe & Australia) — Q1 FY27 net sales $1.88 billion, +13% reported (+7% constant currency); comp sales +4%; operates TK Maxx and Homesense in Europe.
- TJX Canada — Q1 FY27 net sales $1.29 billion, +12% reported (+9% constant currency); comp sales +7%; operates Winners, HomeSense, and Marshalls in Canada.
Recent performance
For Q1 FY27 (ended May 2, 2026), net sales rose 9% to $14.3 billion from $13.1 billion a year earlier. Consolidated comp sales increased 6%. Diluted EPS were $1.19, up 29% from $0.92. Pretax profit margin expanded 1.7 percentage points to 12.0%. The company returned $1.1 billion to shareholders via repurchases and dividends.
Strategy
TJX continues to expand its global store footprint (stores and selling square footage up ~3% year-over-year) and leverage its flexible, opportunistic buying model to capitalize on plentiful branded merchandise availability. Management emphasizes the 'treasure hunt' experience and value pricing to drive customer traffic and market share gains. It is also investing in e-commerce and mitigating tariff impacts through sourcing adjustments.
Risks
- Tariff exposure and refund uncertainty — TJX estimates it has paid approximately $490 million in IEEPA-related tariffs; refunds from CBP are uncertain and not yet recorded as a receivable.
- Execution of opportunistic buying strategy — If merchants misjudge merchandise desirability or timing, sales, margins, and inventory turnover could be adversely affected.
- Inventory management and sales forecasting — Inaccurate sales forecasts could lead to excess inventory or stockouts, hurting financial results.
- Global economic and trade volatility — Tariffs and trade policy changes can disrupt supply chains and increase costs, despite mitigation efforts.
Outlook
Management raised full-year FY27 guidance: comp sales growth of 3% to 4%, pretax profit margin of 11.9% to 12.0%, diluted EPS of $5.08 to $5.15, and share buybacks of $2.75 to $3.0 billion. Q2 is off to a good start, with management citing outstanding availability of quality branded merchandise and plentiful buying opportunities.