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TJX Companies, Inc. (The) - TJX STOCK NEWS

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The TJX Companies, Inc. (NYSE: TJX) is an American multinational off-price department store corporation based in Framingham, Massachusetts. Established in 1987 as a subsidiary of Zayre Corp., it transitioned to become the legal successor of Zayre Corp. following a significant reorganization in 1989. Renowned for being the leading off-price retailer of apparel, accessories, and home merchandise in the United States, TJX Companies operates through a network of nearly 5,000 stores globally under various banners including T.J. Maxx, Marshalls, and HomeGoods.

TJX Companies thrives by providing brand-name merchandise at 20%-60% lower prices compared to conventional retail channels. This is achieved through strategic procurement from over 21,000 global vendors, as TJX takes advantage of manufacturing overruns and retail closeout sales to acquire excess inventory. The company's unique business model creates a 'treasure-hunt' shopping experience, attracting a diverse customer base looking for high-quality products at significant discounts.

Predominantly, over three-quarters of TJX's sales are generated in the United States. The remaining sales come from international markets, with Canada contributing approximately 10% and Europe and Australia together accounting for around 12%.

Recently, Marshalls, one of TJX's major brands, launched the 'Good Stuff Social Club', an initiative designed to empower women by providing them access to essential resources, tools, and a supportive community. The first event, held in New York City, featured actor and producer Priyanka Chopra Jonas, who led a masterclass on achieving personal ambitions and self-worth. This event underscores Marshalls' commitment to not only providing value in-store but also supporting women's aspirations across various life aspects.

Another significant development is the introduction of the 'Marshalls Good Stuff Style Collective,' featuring top industry stylists Zerina Akers, Enrique Melendez, and Molly Dickson. This initiative aims to offer expert fashion advice and styling tips, further strengthening Marshalls' position as a go-to destination for high-quality, trendy fashion at affordable prices.

Financially, TJX Companies remains robust, driven by its successful operational strategy and expansive retail network. With continuous efforts to innovate and engage with its customer base, TJX is well-positioned to sustain its growth and maintain its leadership in the off-price retail sector.

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The TJX Companies, Inc. announced plans to release its fourth quarter and full year Fiscal 2023 sales and earnings results on February 22, 2023, before 9:30 a.m. ET.

CEO Ernie Herrman will discuss these results during a conference call at 11:00 a.m. ET, which will be webcast live. The company operates 4,793 stores globally and is the leading off-price retailer for apparel and home fashions. The detailed financial results and operational trends will be outlined during the call, providing insights into the company's performance and future outlook.

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The TJX Companies, Inc. has announced a quarterly dividend of $.295 per share, payable on March 2, 2023, to shareholders of record by February 9, 2023. This decision reflects the company's ongoing commitment to returning value to shareholders, supported by its established presence of 4,793 stores across nine countries as of October 29, 2022. TJX remains a leading off-price retailer for apparel and home fashions worldwide, aiming to maintain its robust operational strategy.

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The TJX Companies, Inc. has announced the promotion of John Klinger to Executive Vice President and Chief Financial Officer, effective January 29, 2023, coinciding with the start of the fiscal year. Klinger, who has been with TJX since 2000, will supervise Corporate Finance, including Audit, Treasury, Tax, and Investor Relations. Current CFO Scott Goldenberg will transition to Senior Executive Vice President, continuing to oversee various corporate functions. CEO Ernie Herrman expressed confidence in their leadership and expertise as integral to the company's continued success.

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The TJX Companies reported a 3% increase in Q3 FY23 comp store sales at Marmaxx, though total net sales fell by 3% to $12.2 billion. U.S. comp store sales decreased 2%, following a 16% increase last year. Q3 FY23 diluted EPS was $0.91, with adjusted EPS at $0.86. The company returned $843 million to shareholders. For Q4 FY23, TJX revised its U.S. comp store sales outlook to flat to up 1%. The pretax profit margin reached 11.2%, exceeding expectations partly due to expense timing.

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The TJX Companies (NYSE: TJX) will release its third quarter Fiscal 2023 sales and earnings results on November 16, 2022, at 9:30 a.m. ET. CEO Ernie Herrman will conduct a conference call at 11:00 a.m. ET to discuss these results and business trends. A live webcast will be available at TJX.com, with a replay accessible until November 22, 2022. As of July 30, 2022, TJX operated 4,736 stores across nine countries, showcasing its status as a leading off-price retailer of apparel and home fashions.

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The TJX Companies, Inc. declared a quarterly dividend of $.295 per share, payable on December 1, 2022, to shareholders of record on November 10, 2022. As of July 30, 2022, TJX operates 4,736 stores across nine countries, including the U.S., Canada, and the U.K. The company is a leading off-price retailer, with various store brands such as T.J. Maxx and Marshalls. This dividend announcement underscores the company's commitment to returning value to shareholders.

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BetterInvesting Magazine has selected TJX Companies Inc. as its 'Stock to Study' and The Boeing Company as its 'Undervalued Stock' for the November 2022 issue. This decision highlights the importance of ongoing investment education, especially as a recent survey revealed an 8% drop in millennial investors from the previous year. BetterInvesting encourages consistent investing and using its methodologies to build wealth. Investors can access stock analysis tools to examine TJX and Boeing's investment potential.

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The TJX Companies reported Q2 FY23 net sales of $11.8 billion, down 2% year-over-year, with U.S. comp store sales falling 5% compared to a 21% increase last year. Diluted EPS for the quarter was $0.69, up from $0.64. The pretax profit margin improved to 9.2%. Despite macroeconomic pressures, the company plans to return over $1 billion to shareholders via stock repurchases and dividends. TJX adjusted its full-year EPS outlook to $2.87-$2.95 and expects a decline in U.S. comp store sales of 2-3% for FY23, down from previous guidance of a 1-2% increase.

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The TJX Companies, a leading off-price retailer, will release its second quarter Fiscal 2023 sales and earnings results on August 17, 2022, before 9:30 a.m. ET. Following the release, CEO Ernie Herrman will host a conference call at 11:00 a.m. ET to discuss the results, operations, and business trends. The call will be accessible via a webcast and a toll-free replay will be available until August 23, 2022. As of April 30, 2022, TJX operated 4,715 stores across nine countries, highlighting its expansive global presence.

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The TJX Companies, Inc. (NYSE: TJX) has declared a quarterly dividend of $.295 per share, payable on September 1, 2022, to shareholders of record as of August 11, 2022. This announcement reflects the company's ongoing commitment to returning value to shareholders. As of April 30, 2022, TJX operated 4,715 stores across nine countries, making it a leading off-price retailer in apparel and home fashions.

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FAQ

What is the current stock price of TJX Companies (The) (TJX)?

The current stock price of TJX Companies (The) (TJX) is $119.77 as of November 21, 2024.

What is the market cap of TJX Companies (The) (TJX)?

The market cap of TJX Companies (The) (TJX) is approximately 134.7B.

What does The TJX Companies, Inc. specialize in?

The TJX Companies, Inc. specializes in off-price retailing of apparel, accessories, and home merchandise, offering brand-name products at discounted prices.

Where is The TJX Companies, Inc. headquartered?

The TJX Companies, Inc. is headquartered in Framingham, Massachusetts.

How does TJX manage to offer lower prices than conventional retailers?

TJX leverages its extensive network of over 21,000 global vendors to purchase excess inventory from manufacturing overruns and retail closeouts, allowing them to offer products at 20%-60% cheaper than conventional retail prices.

What are the primary retail banners under TJX Companies?

TJX Companies operates primarily under the T.J. Maxx, Marshalls, and HomeGoods banners.

What percentage of TJX's sales come from the United States?

Over three quarters of TJX's sales are derived from the United States.

What recent initiatives has Marshalls undertaken?

Marshalls recently launched the 'Good Stuff Social Club' and the 'Marshalls Good Stuff Style Collective,' aimed at empowering women and offering expert fashion advice respectively.

How many stores does TJX Companies operate globally?

TJX Companies operates nearly 5,000 stores worldwide.

Who are the style experts in the Marshalls Good Stuff Style Collective?

The style experts in the Marshalls Good Stuff Style Collective include Zerina Akers, Enrique Melendez, and Molly Dickson.

What is the purpose of the Marshalls Good Stuff Social Club?

The Marshalls Good Stuff Social Club aims to provide women with access to resources, tools, and a supportive community to help them achieve their ambitions and build self-worth.

How does TJX's business model create a unique shopping experience?

TJX's business model creates a 'treasure-hunt' shopping experience by offering a wide variety of high-quality products at discounted prices, making each shopping trip feel like an exciting search for unique finds.

TJX Companies, Inc. (The)

NYSE:TJX

TJX Rankings

TJX Stock Data

134.68B
1.13B
0.07%
91.62%
1.14%
Apparel Retail
Retail-family Clothing Stores
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United States of America
FRAMINGHAM