TJX COMPANIES INC /DE/ (TJX)

The TJX Companies, Inc. is the leading off-price apparel and home fashions retailer in the United States and worldwide, operating over 4,800 stores across nine countries and five branded e-commerce sites, offering a rapidly changing assortment of quality, fashionable, brand name and designer merchandise at prices generally 20% to 60% below full-price retailers' regular prices. The company operates through four main segments: Marmaxx and HomeGoods in the U.S., TJX Canada, and TJX International, plus the Sierra business, which is included within Marmaxx results. Marmaxx comprises T.J. Maxx (founded 1976) and Marshalls (acquired 1995), collectively the largest off-price retailer in the U.S. with 2,482 stores, selling family apparel, footwear, accessories, and home fashions, along with tjmaxx.com and marshalls.com; Sierra, acquired in 2012, is an off-price retailer of active/outdoor apparel, footwear, gear, home fashions and pet products with 78 stores and sierra.com.

The HomeGoods segment operates HomeGoods (894 stores, launched 1992, homegoods.com since 2021), the leading off-price home fashions retailer in the U.S., and Homesense (46 stores, launched 2017), offering furniture, rugs, lighting, decorative accessories, tabletop items, cookware, and pet/gourmet food departments. TJX Canada operates Winners (297 stores, acquired 1990), HomeSense (151 stores, since 2001), and Marshalls (106 stores, since 2011), offering off-price apparel and home fashions. TJX International operates T.K. Maxx (629 stores across the U.K., Ireland, Germany, Poland, Austria, and the Netherlands, launched 1994, with tkmaxx.com), Homesense in Europe (78 stores), and T.K. Maxx in Australia (74 stores, rebranded from Trade Secret acquired in 2015), offering apparel and home fashions comparable to their U.S. and Canadian counterparts.

TJX's flexible off-price business model relies on opportunistic buying from a global vendor network of approximately 21,000 vendors across more than 100 countries, sourcing closeouts, special productions, order cancellations, and manufacturer overruns, supported by a global buying organization of over 1,200 associates and packaway inventory strategies. The company reaches a broad range of customers across income levels through its treasure-hunt shopping experience, rapid inventory turnover, low-cost operating structure, and minimal promotional pricing, competing against local, regional, national, and international department, specialty, off-price, discount, warehouse, and outlet retailers as well as online retailers. TJX supports its operations through approximately 26 million square feet of distribution centers across six countries and employed approximately 329,000 associates as of January 28, 2023, with roughly 86% working in retail stores; the business experiences seasonal sales peaks in the back-to-school and holiday periods.