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.
Chris Graja, CFASenior Analyst: Retail