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Key Takeaways TJX delivered 3% comparable sales growth in Q1, driven entirely by higher customer traffic. All four segments, led by HomeGoods and international units, contributed to the sales gain. Management guided for 2-3% comparable sales growth in the second quarter of fiscal 2026.The TJX Companies, Inc. (TJX) delivered comparable store sales growth of 3% in the first quarter of fiscal 2026, with all four major divisions contributing to the gain. The growth was entirely driven by increased customer tr ...

Key Takeaways WMT's omnichannel model, ad revenues and memberships drive steady growth and margin expansion. TJX posted 3% comp sales growth and expanded its store base to 5,121 with strong global performance. WMT shares have surged 39.8% over 12 months, outpacing TJX's 11% rise and the broader market.As consumers prioritize value in today’s cost-conscious retail environment, two retail leaders — Walmart Inc. (WMT) and The TJX Companies, Inc. (TJX) — have emerged as top contenders for investor attention. ...

Key Takeaways TJX's Q1 selling, general and administrative rose to 19.4% of sales, mainly due to higher store wages. Q2 gross margin is projected to fall 40 bps due to tariffs on goods already in transit. TJX expects fiscal 2026 gross margin of 30.4-30.5%, down from the prior year's level.The TJX Companies (TJX) is feeling the strain of elevated operating costs, particularly in wages and sourcing. In the first quarter of fiscal 2026, selling, general and administrative (SG&A) expenses rose to 19.4% of sal ...

Investors looking for stocks in the Retail - Discount Stores sector might want to consider either Dollar General (DG) or TJX (TJX) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revi ...

Group 1: Core Business Strategy - The TJX Companies, Inc. is focusing on global expansion as a key driver for long-term growth, with particular emphasis on international markets such as Europe, Canada, and Australia, and plans to enter Spain in 2026 under the TK Maxx brand [1][8] - Comparable sales in TJX International increased by 5% during the quarter, with Australia noted for outstanding performance and TJX Canada also achieving a solid 5% growth [2][8] - The company has a robust global sourcing network across more than 100 countries and a flexible merchandising model, positioning it well to replicate its U.S. success internationally [3] Group 2: Competitive Landscape - Competitors like Burlington Stores, Inc. and Costco Wholesale Corporation are pursuing different expansion strategies, with Burlington planning to open 100 new stores in fiscal 2025 and Costco expanding its international footprint with nine new warehouse openings [4][5][6] Group 3: Financial Performance and Estimates - TJX shares have appreciated by 9.6% over the past three months, outperforming the industry growth of 8.9% [7] - The Zacks Consensus Estimate indicates a year-over-year sales growth of 4.4% and earnings per share growth of 4.7% for the current fiscal year [9] - The company is trading at a forward price-to-earnings ratio of 27.77X, which is below the industry average of 33.53X [10] Group 4: Sales and Earnings Estimates - Current quarter sales are estimated at $14.08 billion, with a year-over-year growth estimate of 4.55% [12] - The earnings per share for the current quarter is estimated at 1.00, reflecting a year-over-year growth estimate of 4.17% [13]

Core Insights - The TJX Companies, Inc. (TJX) is experiencing consistent momentum with a 3% increase in comparable store sales in Q1 FY26, driven by customer traffic across all business segments [1][8] - The off-price retail model continues to attract a diverse consumer base, particularly in an uncertain economic environment, with both apparel and home categories showing comparable sales growth [2][8] - The company's inventory strategy, with a 7% year-over-year increase in inventory per store, supports a steady flow of fresh merchandise [3] Sales and Growth Projections - TJX projects a 2% to 3% growth in comparable sales for both Q2 and the full fiscal year, contingent on sustained customer traffic [3][8] - The Zacks Consensus Estimate indicates year-over-year earnings growth of 4.7% for fiscal 2026 and 10.2% for fiscal 2027, with estimates remaining unchanged recently [11] Competitive Landscape - Key competitors in the retail discount sector include Costco Wholesale Corporation and Dollar General Corporation, both of which are enhancing their inventory and operational strategies to attract price-sensitive consumers [4][5][6] - Costco reported a 5.2% increase in global store traffic and a 5.7% rise in comparable sales in Q3 FY25, while Dollar General saw a 2.4% rise in same-store sales in Q1 FY25 despite a slight decline in customer traffic [5][6] Valuation and Stock Performance - TJX shares have increased by 6.5% over the past three months, outperforming the industry growth of 4.4% [7] - The company trades at a forward price-to-earnings ratio of 27.73X, which is below the industry average of 34.39X [10]

Core Insights - The TJX Companies, Inc. (TJX) experienced a 5% drop in shares following the release of its first-quarter fiscal 2026 results, underperforming compared to the Zacks Retail - Discount Stores industry, which declined 1%, and the broader S&P 500, which increased by 0.2% [1][7]. Financial Performance - TJX reported net sales of $13,111 million for the first quarter, reflecting a 5% year-over-year increase, with consolidated comparable store sales rising by 3% [5][10]. - Earnings per share (EPS) for the quarter were 92 cents, a slight decrease from 93 cents in the same quarter last year [5][7]. - The company reaffirmed its fiscal year 2026 outlook, projecting comparable store sales growth of 2% to 3% and EPS between $4.34 and $4.43, indicating a 2% to 4% increase from the previous year's EPS of $4.26 [10][24]. Segment Performance - Comparable store sales growth was reported as follows: 2% at Marmaxx (U.S.), 4% at HomeGoods (U.S.), and 5% at both TJX Canada and TJX International (Europe and Australia) [8][10]. Strategic Outlook - Management expressed confidence in the company's ability to attract value-conscious shoppers despite macroeconomic challenges, emphasizing the strength of its off-price retail model and broad product assortments [9][11]. - TJX added 36 new stores in the first quarter, bringing the total to 5,121 locations, and is focusing on enhancing its e-commerce capabilities [13]. Valuation and Market Position - TJX is currently trading at a forward P/E ratio of 27.75X, which is lower than the industry average of 34.17X, making it attractive for value-focused investors [14]. - The stock is trading above its 50-day and 200-day moving averages, indicating growing market confidence in its growth potential [16]. Challenges and Risks - The company faces rising operating costs due to inflation and wage increases, which may pressure margins [17]. - Tariff-related pressures and foreign exchange fluctuations are anticipated to impact profitability, with management projecting a gross margin decline of 40 basis points year-over-year [18][19]. - Recent downward revisions in earnings estimates reflect cautious sentiment among investors, with the consensus estimate for EPS declining to $1.00 for the current quarter and $4.46 for the fiscal year [20][24].

Financial Performance - Net sales increased by 5% to $13.1 billion for the first quarter of fiscal 2026, compared to $12.5 billion in the same period last year[86]. - Consolidated comparable sales (comp sales) rose by 3% for the first quarter of fiscal 2026, consistent with the previous year's growth[88]. - Diluted earnings per share for the first quarter of fiscal 2026 were $0.92, a slight decrease from $0.93 in the first quarter of fiscal 2025[106]. - The pre-tax profit margin decreased to 10.3% in the first quarter of fiscal 2026, down from 11.1% in the same quarter last year[86]. - Cost of sales, including buying and occupancy costs, increased to 70.5% of net sales, up from 70.0% in the first quarter of fiscal 2025[101]. - Selling, general and administrative (SG&A) expenses as a percentage of net sales rose to 19.4%, compared to 19.2% in the prior year[102]. Inventory and Capital Management - Average per store inventories increased by 7% at the end of the first quarter of fiscal 2026 compared to the same period last year[86]. - The company returned $1 billion to shareholders through share repurchases and dividends during the first quarter of fiscal 2026[86]. - Capital expenditures for the first three months of fiscal 2026 are anticipated to be approximately $2.1 billion to $2.2 billion, focusing on store improvements and new store investments[134]. Segment Performance - Segment profit for the Marmaxx segment increased to $1.107 billion, with a segment profit margin of 13.7% for the first quarter of fiscal 2026[111]. - Marmaxx net sales for Q1 fiscal 2026 were $8.1 billion, a 4% increase from $7.8 billion in Q1 fiscal 2025, driven by a 2% increase in comp sales and a 2% increase in non-comp sales[112][113]. - HomeGoods net sales for Q1 fiscal 2026 were $2.3 billion, an 8% increase from $2.1 billion in Q1 fiscal 2025, with comp sales also increasing by 4%[117]. - TJX Canada net sales for Q1 fiscal 2026 were $1.1 billion, a 3% increase from the previous year, with comp sales up by 5%[120]. - TJX International net sales for Q1 fiscal 2026 were $1.7 billion, an 8% increase from $1.5 billion in Q1 fiscal 2025, with comp sales increasing by 5%[124]. Profit Margins by Segment - Segment profit margin for Marmaxx decreased to 13.7% in Q1 fiscal 2026 from 14.2% in the same period last year, primarily due to expense deleverage[114]. - HomeGoods segment profit margin increased to 10.2% in Q1 fiscal 2026 from 9.5% in the same period last year, driven by lower supply chain costs[118]. - TJX Canada segment profit margin decreased to 10.7% in Q1 fiscal 2026 from 12.3% in the same period last year, impacted by lower merchandise margin[121]. - TJX International segment profit margin increased to 4.3% in Q1 fiscal 2026 from 4.0% in the same period last year, due to lower administrative costs[126]. Corporate Expenses and Risk Management - General corporate expenses increased to $215 million in Q1 fiscal 2026 from $153 million in Q1 fiscal 2025, primarily due to unfavorable mark-to-market adjustments[127][128]. - There have been no material changes in the company's primary risk exposures or management of market risks from those disclosed in the Annual Report on Form 10-K for the fiscal year ended February 1, 2025[141].

Core Viewpoint - TJX Companies' stock price declined following its Q1 earnings report and guidance update, but this is seen as a natural market movement within a generally bullish trend [1][2] Financial Performance - The company reported a revenue growth of 5%, surpassing consensus estimates, with a 3% systemwide comparable sales increase driven entirely by transactions [8] - Margins remained firm despite some pressure, resulting in GAAP earnings contracting by only a penny compared to the previous year, offset by a penny's worth of outperformance [10] Guidance and Market Sentiment - TJX Companies is guiding for 2% to 3% top-line growth, which is considered sufficient to maintain capital return outlook, although it was anticipated by the market [2] - Analysts' responses to the results and guidance have been positive, with more analysts raising their price targets, contributing to a bullish sentiment [5][6] Share Buybacks and Capital Allocation - Share buybacks are a central part of the investment thesis, with plans to reach $2.5 billion in buybacks by 2025, reducing share count by 1.2% year over year [4] - The company maintains a robust capital allocation strategy, including dividends and distribution growth, supported by strong cash flow generation [3][10] Institutional Support - Institutional ownership stands at approximately 90%, with buying activity reaching multi-year highs in Q1 and remaining strong in Q2, providing solid support for the stock [13]