UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (mark one) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended May 4, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 1-4908 The TJX Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 04-2207613 (State or other jurisdiction of ...

TJX (TJX) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this parent of T.J. Maxx, Marshalls and other stores have returned +8.1% over the past month versus the Zacks S&P 500 composite's +3.2% change. The Zacks Retail - Discount Stores industry, to which TJX belongs, has gained 6.1% over this period. Now the key question is: Where could the stock be headed in the near term?A ...

In this articleROSTTJXA T.J. Maxx store in Pasadena, California.Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. Persistent inflation and rising prices for essentials like food and gas have pushed shoppers to trade department stores like Macy's and Kohl's for discounters like TJ Maxx and Ross. But they've also become cooler places to shop, par ...

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A TJ Maxx store in Pearland, Texas, USAgettyTJX reports excellent, above plan results. Comparable store sales were up 3%, which were driven by an increase in customer transaction. Pretax profit margin of 11.1% is an increase of 0.8% versus last year, and was above company’s plan. Company reported $0.93 earnings per share versus $0.76 last year. This was a 22% increase over last year.Ernie Herman, CEO and president of TJX Companies stated: “I am very pleased with our first quarter performance…. Our teams acr ...

As consumers continue to spend cautiously, TJX is seeing bargain shoppers seek the surprise and delight of its stores’ luck-of-the-draw format, bringing joy in a financially stressful time.The off-price apparel and home goods retailer, parent company of TJ Maxx, Marshalls, HomeGoods and others, shared in its first-quarter fiscal 2024 earnings results Wednesday (May 22) that comp store sales increased 3% year over year at a time when many retailers have been seeing shoppers pull back.On a call with analysts, ...

Financial Data and Key Metrics - Consolidated comp store sales increased by 3%, driven entirely by customer transactions [6] - Pretax profit margin was 11.1%, up 80 basis points, 50 basis points above plan [9] - Diluted earnings per share increased by 22%, well above plan due to pretax profitability outperformance and a lower-than-expected tax rate [10] - Gross margin increased by 110 basis points, driven by lower freight costs and favorable mark-on [9] - SG&A increased by 20 basis points due to incremental store wage and payroll costs [9] - Net interest income benefited pretax profit margin by 10 basis points [10] Business Line Performance - Marmaxx comp store sales increased by 2%, with segment profit margin at 14.2%, up 20 basis points [10] - HomeGoods comp store sales increased by 4%, with segment profit margin at 9.5%, a 220-basis point improvement [11] - TJX Canada comp store sales increased by 4%, with segment profit margin at 12.4%, up 110 basis points [11] - TJX International comp store sales increased by 2%, with segment profit margin at 3.9%, up 120 basis points [11] Market Performance - The company is performing better than most major retailers in Canada and Europe [12] - The company is confident in its position as a leading shopping destination for value-seeking customers in Canada, Europe, and Australia [12] Company Strategy and Industry Competition - The company's off-price business model is flexible and resilient, with a focus on opportunistic buying and expansive assortments [14] - The company sees significant market share opportunities across the U.S., Canada, Europe, and Australia, with potential to expand store footprint by at least 1,300 stores [15] - The company has over 1,300 global buyers sourcing from more than 21,000 vendors and 100 countries, ensuring a steady supply of quality branded merchandise [15] - The company emphasizes its value proposition and plans to flow fresh assortments to stores and online throughout the year [8] Management Commentary on Operating Environment and Future Outlook - The company is confident in its near- and long-term growth opportunities, citing its wide customer demographic reach and ability to attract new Gen Z and millennial shoppers [14] - The company is pleased with its inventory levels and is well-positioned to capitalize on outstanding buying opportunities in the marketplace [8] - The company expects to continue gaining market share and increasing profitability over the long term [18] Other Important Information - Balance sheet inventory was down 3% versus the first quarter of last year, with in-store inventory in line with last year's levels [13] - The company generated strong cash flow, reinvested in growth, and returned cash to shareholders through buyback and dividend programs [13] Q&A Session Question: Drivers of market share gains and confidence in multiyear runway [24] - The company sees balanced performance across categories, with no single area driving comps more than expected [25] - The company's treasure hunt format and ability to offer good, better, and best merchandise across income and age groups differentiate it from competitors [28] - The company is becoming more important to vendors, with improved vendor relationships and consistent inventory availability [29] Question: New customer acquisition and trade-down trends [34] - The company continues to attract younger customers and sees balanced performance across income groups [35][36] - The company aims to appeal to a broad range of income and age demographics while focusing on younger customers [37] Question: Outlook for HomeGoods segment and home category [38] - The company sees continued market share opportunities in the home segment, with flexibility to adjust categories based on demand [40] - The company is focusing on consumables to drive repeat traffic in HomeGoods [41] Question: Competition for deals and promotional landscape [46] - The company's buyers are well-trained and maintain strong vendor relationships, ensuring competitive pricing [49] - The promotional environment remains similar to previous periods, with no significant changes observed [50] Question: EBIT margin leverage and wage changes in California [53] - The company is leveraging on a 2% to 3% comp due to onetime items and improved freight efficiency [55] - The company adjusts wages on a market-by-market basis to manage hiring and retention [57] Question: Pricing strategy and inventory management [58] - The company maintains a competitive pricing strategy, ensuring it is not undersold by any retailer [59] - Store inventories are in line with last year's levels, with distribution center inventory adjustments due to timing [63] Question: Store growth potential and international performance [65] - The company sees significant store growth potential in existing markets but does not comment on new market developments [66] - The company is confident in its store growth plans in the U.S., Canada, and Europe [67] Question: International margins and gross margin outlook [70] - The company remains confident in achieving high single-digit margins for its international segment [72] - Freight efficiency and mark-on improvements are contributing to structural gross margin improvements [72] Question: Macro backdrop and competition from Chinese discounters [75] - The company attributes Marmaxx's 2% comp to unfavorable weather and sees little impact from Chinese discounters like Temu and Shein [76][77] Question: Remodel pace and shrink trends [78] - The company focuses on maintaining store fit and finish through remodels, with no significant changes in shrink trends [79][80] Question: Younger shopper behavior and cross-shopping [82] - The company is attracting younger shoppers and aims to build loyalty through credit card programs and cross-shopping [83][84] - Digital marketing is used to drive cross-shopping across brands, though measurement remains a challenge [88]

Key PointsTJX Companies had a solid quarter, outperforming the bottom line and raising profit guidance.All segments produced growth and contributed to the strength. The trend in analysts' sentiment is positive, leading the market to a new high. 5 stocks we like better than TJX CompaniesTJX Companies NYSE: TJX industry-leading position in off-price retail and quality operations will soon lead its stock price to new heights. Like Walmart NYSE: WMT, TJX Companies benefits from the high inflation and interest r ...

TJX Companies (TJX) stock jumped higher Wednesday after the off-price retailer beat sales and earnings expectations for its fiscal first quarter and raised its outlook for the full year.In the thirteen weeks ended May 4, the parent company of TJ Maxx, Marshalls, HomeGoods, Homesense and Sierra saw revenue increase 5.9% year-over-year to $12.5 billion. Earnings per share (EPS) were up 22.4% from the year prior to 93 cents."I am very pleased with our first-quarter performance," TJX CEO Ernie Herrman said in a ...