TJX Eyes 1,800+ Store Openings: A Long Runway for Growth Ahead?

Core Insights - The TJX Companies, Inc. (TJX) is reinforcing its position as a leading value retailer by offering a strong combination of brand, fashion, quality, and price across global markets [1] - The company plans to open over 1,800 additional stores in existing countries and Spain, with a focus on growth in its Mexico joint venture and investments in the Middle East [2][9] - As of the end of Q2 fiscal 2026, TJX operated 5,134 stores, with plans for 130 net new stores and nearly 500 store remodels this fiscal year [3][4] Store Expansion Strategy - TJX's management is confident in achieving approximately 3% net unit growth in the coming years, supported by flexible buying and supply chain systems [4] - Competitors in the store expansion space include Ross Stores, which plans to add 90 stores in fiscal 2025, and Burlington Stores, which aims for 100 net new stores in the same period [5][6][7] Financial Performance and Valuation - TJX shares have increased by 16.6% year-to-date, outperforming the industry growth of 5.6% [8] - The company trades at a forward price-to-earnings ratio of 29.06X, compared to the industry average of 31X [10] - The Zacks Consensus Estimate indicates year-over-year earnings growth of 7% for fiscal 2026 and 10.3% for fiscal 2027, with EPS estimates trending upward [11][12]