TJX Companies

TJX is the largest off-price retailer of apparel and home fashions in the United States and in the world. It sells brand-name goods at prices below those of department and specialty stores. It has four segments: Marmaxx (TJ Maxx, Marshalls and Sierra in the U.S.), HomeGoods (HomeGoods and Homesense in the U.S.), TJX Canada (Winners, HomeSense and Marshalls) and TJX International (TK Maxx and Homesense in Europe and TK Maxx in Australia).

It had 5,285 stores at August 1, 2026. Net sales were $60.4 billion in fiscal 2026, which ended on January 31, 2026. Its buyers get goods from about 21,000 vendors.

The market doubts that TJX can keep its recent growth in profit. Part of the fiscal 2027 profit comes from one-time refunds of tariffs. In Q2 fiscal 2027, refunds of $331 million less related bonus costs added $0.14 to diluted EPS. Comparable sales at Marmaxx, the largest division, grew only 1%, below the plan, while the other divisions grew 6% to 7%.

Store wage and payroll costs also rise. For the gap to close, three things must be true. Marmaxx comparable sales must recover, as management said they started to do early in Q3. The adjusted pretax margin must keep rising without help from tariff refunds, from the fiscal 2027 guidance of 12.0% to 12.1%.

Store growth must speed up to 4% a year from fiscal 2028, on the way to a target of 7,500 stores. The Q3 fiscal 2027 report, expected in mid-November 2026, gives the next test with the holiday quarter guidance. The full-year report, expected in late February 2027, gives the fiscal 2028 plan. If these checks pass, the gap can close within about a year.

1. Nov 18, 2026 · est.Pending

   Q3 fiscal 2027 results: Marmaxx and holiday outlookComparable sales at the top of the 2% to 3% guidance with better Marmaxx sales and a kept full-year outlook pass; weak Marmaxx sales or a lower outlook fail.
2. Feb 24, 2027 · est.Pending

   Full-year fiscal 2027 results and fiscal 2028 planA fiscal 2028 plan with a higher adjusted pretax margin and 4% store growth passes; a lower margin without tariff refunds fails.

Every passed and failed checkpoint across all picks

• October 15, 2026TJX said that Kenneth Canestrari, Senior Executive Vice President and Group President, plans to retire on April 30, 2027. He stops serving as an executive officer on January 31, 2027.
• August 19, 2026TJX reported Q2 fiscal 2027 results. Net sales grew 5% to $15.2 billion, and comparable sales grew 4%, above plan. Diluted EPS was $1.36, or $1.22 without a net benefit from tariff refunds, up 11%. Marmaxx comparable sales grew only 1%, while HomeGoods, TJX Canada and TJX International grew 6% to 7%. TJX raised its fiscal 2027 diluted EPS guidance to $5.31 to $5.36, or $5.15 to $5.20 without tariff refunds.
• August 19, 2026TJX said that it plans to increase its store growth to 4% a year from fiscal 2028. It raised its long-term target to 7,500 stores in its current banners and countries.

Last earnings

August 19, 2026 (8-K on sec.gov)

Next earnings

Expected about November 18, 2026. The company has not confirmed the date.

• 8-KChange of directors or officersFiled October 20, 2026 · tjx-20261015
• 8-KChange of directors or officersFiled September 17, 2026 · tjx-20260916
• 10-QQuarterly report for the period ended Aug 1, 2026Filed August 28, 2026 · tjx-20260801
• 8-KEarnings releaseFiled August 19, 2026 · tjx-20260819
• 8-KShareholder vote resultsFiled June 11, 2026 · tjx-20260609
• 10-QQuarterly report for the period ended May 2, 2026Filed May 29, 2026 · tjx-20260502
• 8-KEarnings releaseFiled May 20, 2026 · tjx-20260520
• 10-KAnnual report for the period ended Jan 31, 2026Filed March 31, 2026 · tjx-20260131
• 8-KEarnings releaseFiled February 25, 2026 · tjx-20260225
• 10-QQuarterly report for the period ended Nov 1, 2025Filed December 2, 2025 · tjx-20251101

Every filing on SEC EDGAR (CIK 109198)

• Tariff refunds raise profit in fiscal 2027, but the amount and timing of more refunds are uncertain. Without them, profit growth is slower. New tariffs can also raise the cost of goods.
• Marmaxx, about 60% of sales, grew comparable sales only 1% in Q2 fiscal 2027. A weaker U.S. consumer or more competition can keep growth slow in the largest division.
• Store wages and payroll costs rise. SG&A costs were 19.7% of sales in Q2 fiscal 2027 without the tariff-related bonus costs, up 0.2 percentage points.
• TJX Canada and TJX International earn in other currencies. A stronger dollar lowers reported sales and profit.

TJX has more cash than debt. At August 1, 2026, cash was $6.0 billion, and debt was $2.879 billion of senior unsecured notes. Read more

Dividend yield

1.3% (last 12 months, at today’s price of $138.13)

Paid per share

$1.81 in the last 12 months (4 payments)

Current annual rate

$1.92 ($0.48 × 4 a year)

Payout ratio

34% of the last fiscal year’s earnings (the year that ended January 31, 2026)

Latest ex-dividend date

August 13, 2026, $0.48 per share

Dividends per share by year

Over the last 5 years, the dividend grew by about 11.7% a year. Over the last 10 years, the dividend grew by about 13.8% a year.

Source: company filings and market data, read on November 9, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.