Core Insights - TJX has outperformed the S&P 500 with a 28% gain this year and a 129% return over the past five years, driven by its discount retail model [1][2] - The company's primary brands, T.J. Maxx and Marshalls, are crucial for its success, contributing approximately 60% of total sales in Q3 FY26 [5][3] - Economic conditions favor TJX's business model, attracting consumers seeking low-priced essential products during downturns [9][10] Financial Performance - The U.S. Marmaxx division grew by 7% year over year, while Canadian and international segments increased by 8% and 9% year over year, respectively [7] - Comparable sales for the parent company increased by 5%, indicating customer loyalty and larger order sizes [8] Market Trends - The growing trend of clothing reselling, particularly among Gen Z, presents an opportunity for TJX as consumers buy and resell discounted items [11] - The company is positioned well for continued growth into 2026, especially if comparable sales and revenue maintain their upward trajectory [12]