AllAnalyst Report
logoArgusApril 27, 2021

The TJX Companies, Inc.: Previewing 1Q earnings

Consumer Cyclical
Current Price
Price Target
Earnings Estimate

TJX Companies Inc. sells name-brand merchandise at discounted prices. The company operates 4,572 stores, with 3,305 T.J. Maxx, Marshalls, HomeGoods, Homesense, and Sierra stores in the U.S., 525 stores in Canada, and 742 stores in Europe and Australia. In FY20, the company posted sales of $42 billion, which dropped to $32 billion in FY21. Clothing and footwear is the major product category, at 51% of sales. Jewelry and accessories represent 16% and home products represent 33%. The company, based in Framingham, Massachusetts, has approximately 250,000 associates worldwide and more than 21,000 vendors sourcing products from over 100 countries. We believe that e-commerce represents less than 5% of sales. The company's fiscal year ends on the Saturday nearest to the last day of January. The current FY22 will end on January 29, 2022.

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.