TJX Companies Inc. sells name-brand merchandise at discounted prices. The company operates 4,835 stores, with 3,422 T.J. Maxx, Marshalls, HomeGoods, Homesense, and Sierra stores in the U.S., 554 stores in Canada, and 781 stores in Europe and Australia. In FY20, the company posted sales of $42 billion, which dropped to $32 billion in FY21 and rebounded to $48.5 billion in FY22. FY 23 sales were $49.9 billion. Clothing and footwear is the major product category, at 48% of sales. Jewelry and accessories represent 17% and home products represent 35%. The company, based in Framingham, Massachusetts, has approximately 329,000 associates worldwide and more than 21,000 vendors sourcing products from over 100 countries. E-commerce represents less than 3% of sales. The HomeGoods division in the U.S. represents approximately 17% of company sales. ‘Home fashions’ represent approximately 35% of enterprise revenue (clothing represents 48% and jewelry and accessories 117%). Much of the ‘home’ merchandise consists of accessories, gift items, products for kids, and even packaged food. The HomeGoods and Homesense businesses have more ‘big’ items like lamps, furniture, and rugs than T.J. Maxx and Marshalls. Based on the company’s reported segments, the U.S. represents almost 80% of sales and Canada about 10%. The International segment accounts for 13% of sales (12% Europe, 1% Australia). We don’t have a revenue breakdown in Europe, but approximately 60% of the segment’s stores are in the U.K, 23% are in Germany, and 7% are in Poland. The rest are in Ireland, Austria, and The Netherlands. The company’s fiscal year ends on the Saturday nearest to the last day of January. The current FY24 will be a 53-week year ending on February 3, 2024.
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