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☆ Off-price retail is poised to keep taking market share. Why is TJX's stock stuck?
▼ + stars: | 2024-04-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

The ongoing challenges for department stores, which extend back more than a decade, keep playing into the hands of off-price competitors, UBS said. Despite woes at other retailers, TJX stands out as a resilient company well-equipped to avoid many of the industry's challenges. TJX 1Y mountain TJX's stock performance over the past 12 months. One factor keeping a lid on TJX's stock recently may be that it is trading close to its historical valuation, noted Chuck Grom, a consumer and retail analyst at Gordon Haskett. On the other hand, spending at department stores fell 3.7% in March after a 5.2% decline in February, according to Bank of America.

Persons: Jeff Marks, TJX, — TJX, Ernie Herrman, Chuck Grom, Gordon Haskett, Grom, TJX's, Corey Tarlowe, Tarlowe, Jim Cramer's, Jim Cramer, Jim, Jeff Greenberg Organizations: Companies, TJX Companies, Ross Stores, UBS, Burlington Stores, Nordstrom, Marshalls, Home Goods, CNBC, Loop, Jefferies, Bank of America, Universal, Getty Locations: Maxx, Port St Lucie , Florida

☆ HomeGoods has become 'a bit of a cult,' TJX CEO says
▼ + stars: | 2024-02-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

HomeGoods is the housewares and furnishings brand in TJX's off-price retail family. "It's become a bit of a cult," TJX CEO Ernie Herrman joked about the brand's popularity on TikTok. AdvertisementAnyone who has ever set foot in a HomeGoods store has likely walked out with at least one thing they hadn't planned on purchasing. HomeGoods is the housewares brand in the TJX off-price retail family, which includes megastars T.J. Maxx and Marshalls, plus the outdoorsy Sierra. Advertisement"It's become a bit of a cult," TJX CEO Ernie Herrman joked during the company's fourth-quarter earnings call on Wednesday.

Persons: HomeGoods, It's, Ernie Herrman, —, Herrman, housewares Organizations: Service, HomeGoods, Marshalls, TJX Locations: Maxx, HomeGoods

☆ We're raising our price target on TJX after the discount retailer's impressive earnings beat
▼ + stars: | 2024-02-28 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Higher sales and lower COGS resulted in better-than-expected gross margin expansion that trickled down to a bottom-line beat. The company's pretax profit margin also expanded versus the year-ago period, benefiting from a higher merchandise margin. The strong merchandise margin was attributable to less shrink (theft), reduced freight costs, and lower markdowns. The company's pretax profit margin also expanded versus the year-ago period, benefiting from a higher merchandise margin. The strong merchandise margin was attributable to less shrink (theft), reduced freight costs, and lower markdowns.

Persons: Ernie Herrman, —, Herrman, Jim Cramer's, Jim Cramer, Jim, Scott Mlyn Organizations: Companies, LSEG, Management, Wall, TJX, CNBC, Shoppers, TJ Maxx, CNBC TJX Companies Locations: Maxx, buybacks, Canada, New York

☆ I visited T.J. Maxx's outdoorsy sibling Sierra, the most interesting brand in the TJX family
▼ + stars: | 2024-01-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Sierra is TJX's outdoor lifestyle brand, selling apparel, gear, home goods, and pet products. Business Insider visited a store for a closer look at T.J. Maxx's younger, sportier sibling. The Sierra store in Madison, Wisconsin, is just two doors down from a T.J. Maxx location. Dominick Reuter/Business InsiderSierra's tiny stature means it barely receives individual mention in TJX earnings calls beyond annual announcements of planned store openings, per AlphaSense. AdvertisementTJX's fingerprints are all over Sierra's stores, and the combination of its tried-and-tested playbook with this retail category make the small-but-mighty brand an exciting one to follow.

Persons: —, Dominick Reuter, I'm, TJX, Placer.ai, Ernie Herrman, Stanley, Dick's, REI, Sierra Organizations: Business, Service, Sporting, Sierra, Trading, Marshalls, Public Lands Locations: Wisconsin, Sierra, Madison , Wisconsin, Reno , Nevada, Wyoming, Denver, Burlington , Vermont, Framingham , Massachusetts, Maxx, REI

☆ TJ Maxx is no longer just a secret dumping ground for brands
▼ + stars: | 2023-11-16 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

T.J. Maxx is an off-price retailer that offers a treasure hunt shopping experience. T.J. Maxx is known as the retailer that took the inventory other stores couldn't sell. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementT.J. Maxx is often considered the last resort retailer, taking inventory other stores couldn't sell.

Persons: Maxx, —, they've, Simeon Siegel, Siegel, Ernie Herrman Organizations: Service, Marshalls, TJX Companies, Yahoo Finance Locations: Maxx

☆ Earnings this week show shoppers will spend money for value, favoring two retail stocks
▼ + stars: | 2023-08-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

A busy week of retail earnings revealed that American consumers are spending with value top of mind. This disparity signals that certain discretionary goods categories are working while others are not. TGT YTD mountain Target YTD performance Target on Wednesday reported a second-quarter that reflected weak sales along with a slowdown in discretionary spending. TJX YTD mountain TJX Companies YTD performance TJX tells a different story. COST YTD mountain Costco YTD performance Looking ahead, Costco is set to release its fiscal fourth-quarter earnings on Sept. 26.

Persons: Jim Cramer, Matthew Shay, Doug McMillon, Brian Cornell, That's, Maxx, TJX, Ernie Herrman, it's, ROSS, Ross, Jim, Jim Cramer's Organizations: Walmart, TJX Companies, Costco, National Retail Federation, CNBC, Retailers, Health, Wellness, Walmart's, Marshalls, & Beverage, Food & Beverage, Target, Ross Stores, Corbis, Getty Locations: Maxx, TJX, U.S, Teterboro , New Jersey

☆ Shoppers are spending big at T.J. Maxx, HomeGoods as Target sales slide
▼ + stars: | 2023-08-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Cash-strapped consumers may be pulling back on discretionary purchases at Target , but they're spending big on name brands and home goods at off-price TJX Cos. Shares of TJX Cos. reached a new 52-week high on Wednesday, spiking more than 4%. TJX Cos., which runs T.J. Maxx, Marshalls, HomeGoods, Sierra and Homesense in the U.S., raised its full-year outlook for comparable store sales, pretax profit margin and earnings per share following the strong quarter. It anticipates pretax profit margin in the range of 10.7% to 10.8%, and earnings per share between $3.66 and $3.72. Even so, TJX's HomeGoods posted a 4% comparable sales increase as consumers still sought out home decor, throw pillows and other furnishings.

Persons: Cash, Cos, Neil Saunders, TJX Cos, Ernie Herrman, TJX's HomeGoods Organizations: Target, Refinitiv Locations: Cos, Maxx, HomeGoods, Sierra, U.S

☆ T.J. Maxx's small presence on the web is giving Shein and Temu a big advantage
▼ + stars: | 2023-06-30 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Analysts said that rivals like Shein and Temu pose "major threats" to brands like T.J. Maxx. Certain brands can't be searched for directly by name on T.J. Maxx's online store. E-commerce is just a small part of TJX's businessShein and T.J. Maxx share a similar customer base. A representative for TJX declined to comment when Insider asked about the growing competition from companies like Shein and Temu and whether TJX plans to expand its online presence. Customers said that they liked shopping at T.J. Maxx because the brand offers good value for money and a chance to hunt for good deals.

Persons: Maxx, —, John Klinger, Calvin Klein, Gucci —, Ernie Herrman, TJX's Herrman Organizations: Service, UBS, TJX's, Nike, TJX, Customers, Maxx Locations: Maxx, Sierra, COVID

☆ TJX Companies is taking note of what consumers are shopping for at closing Bed Bath & Beyond stores, as it looks to lure customers for its HomeGoods chain
▼ + stars: | 2023-05-18 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

It is looking at what categories were successful at nearby – and closing – Bed Bath & Beyond stores. The off-price giant has been called out frequently by analysts as being one of the key beneficiaries of Bed Bath & Beyond's recent demise. Herrman said it is "re-ranking" its assortment only at its HomeGoods stores that are located near to any closing Bed Bath & Beyond locations, rather than making broad changes across all of its network. It's not just TJ Maxx and HomeGoods that are teeing up for a Bed Bath & Beyond-related windfall, however. Amazon, Walmart, and Target are also in line to capitalize from these closures and have been slowly chipping away at Bed Bath & Beyond's market share for many years.

☆ Discount chains Ross, T.J. Maxx, and Burlington are planning to add more than 300 new stores. Here's why major retailers should be nervous about their growing off-price rivals.
▼ + stars: | 2023-03-08 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Off-price chains are likely to get a boost in the months ahead as shoppers seek low prices. Ross Stores is planning to open 100 new locations this year, while T.J. Maxx plans 150 openings, and Burlington as many as 80. 2023 is looking like a strong year for off-price chains like Burlington Stores, Ross Stores and T.J. Maxx, as shoppers look to save money where they can. Off-price chains could benefit from retail closures and bankruptciesAs other retailers close swaths of stores nationwide, discounters are expanding. Paul Weaver/SOPA Images/LightRocket via Getty ImagesAnalysts see a banner year ahead for BurlingtonBurlington may be the smallest of the major off-price retailers, but it's poised to have a big year.

☆ TJ Maxx says its assortment of discounted brands is better than ever thanks to store closures elsewhere. Here's how it keeps prices so low.
▼ + stars: | 2023-03-03 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +4 min

TJ Maxx sells products at 20% to 60% cheaper than department stores and retailers. TJ Maxx says its thriving because of this. A network of experienced buyersTech accessories on display at TJ Maxx. Buying in bulkThe massive selection of purses and handbags at TJ Maxx. Well-known brands like Ralph Lauren have been known to make items for TJ Maxx in the past, but pulled back in a bid to address worries about brand exclusivity.

☆ 'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods
▼ + stars: | 2023-02-23 | by ( Siddharth Cavale | ) www.reuters.com time to read: +4 min

Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while". "Food inflation has been the most stubborn of all the categories," Walmart's U.S. CEO John Furner said. Sharp sales declines in categories other than food are forcing retailers like Target (TGT.N) to slash prices on everything from toys to electronics. While groceries comprise 56% of Walmart sales, they make up about 20% of sales at Target, which depends more on home furnishings, apparel and beauty.

☆ T.J. Maxx and HomeGoods are reaping huge benefits from store closures and shopping slowdowns that are crushing other retailers
▼ + stars: | 2023-02-23 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

T.J. Maxx and HomeGoods are benefiting from the struggles other retailers are facing, parent company TJX says. Store closures and slowdowns mean there's more, better inventory for TJX brands to choose from. TJX is also seeing an influx of customers as competing brands close stores nationwide. Those struggles have led customers to flock to TJX chains, Herrman said. "We're attracting new customers, we're opening new stores, and we're likely to benefit from other home store closures," Herrman said.

☆ Wall Street absolutely loves this retailer, poised to benefit from the industry's inventory issues
▼ + stars: | 2022-11-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The off-price retailer beat earnings expectations on Wednesday, reporting third-quarter earnings-per-share of 86 cents versus a StreetAccount estimate of 80 cents. Revenue, however, came in lower than expected, at $12.17 billion compared to the $12.3 billion expected by Wall Street. The glut of inventory in the retail space has helped lift TJX 's earnings, CEO Ernie Herrman said on the earnings conference call Wednesday. TJX's comparable-store sales were driven by the excellent performance of Marmaxx, particularly its apparel business, the company said. U.S. Marmaxx sales, which includes T.J. Maxx and Marshalls brand stores, rose 3%in the third quarter, while TJX's HomeGoods' comparable-store sales sank 16%.

☆ Retailer TJX Names New CFO as Sales Decline
▼ + stars: | 2022-11-16 | by ( Jennifer Williams-Alvarez | Colin Kellaher | ) www.wsj.com time to read: +3 min

Mr. Klinger, who joined TJX in 2000, currently serves as executive vice president and corporate controller. U.S. comparable-store sales, which exclude e-commerce sites, fell 2%, driven by a 16% drop in comparable sales for the U.S. homegoods business. For the 2023 fiscal year, TJX forecasts U.S. comparable-store sales to fall 1% to 2%. TJX in August projected a full year decline in U.S. same-store sales of 2% to 3%. This is because they’ve withheld key metrics such as the figures for comparable-store sales, since they weren’t meaningful as a result of store closures brought on by the pandemic, she said.

☆ One of our best-performing stocks lately reports earnings this week. Here's what to expect
▼ + stars: | 2022-11-14 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Overall, 77% of the 26 analysts who cover TJX rate the stock the equivalent of a buy, according to FactSet. Two big earnings themes When TJX releases fiscal 2023 third-quarter results after Wednesday's closing bell, it'll mark the first time the company will report earnings as a CNBC Investing Club name. TJX saw its pretax margin collapse to 0.3% during its pandemic-marred fiscal 2021, down from 10.6% in its prior fiscal year. Any indications of easing cost headwinds — especially on the freight side — should help support earnings growth into next year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ How TJ Maxx and Ross discount their clothes by so much
▼ + stars: | 2022-10-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN Business —It’s a great time to be a closeout store like TJ Maxx. In July, they were sitting on $713 billion in inventory, according to the latest data from the Census Bureau. That’s a prime opportunity for “off-price” retailers such as TJX (TJX) – the parent of TJ Maxx, Marshalls and HomeGoods – as well as Ross (ROST), Burlington (BURL) and Ollie’s Bargain Outlet (OLLI). And if a designer changes the style or color of a dress, for example, off-price stores are happy to take it and sell it on the cheap. “We are seeing extraordinary off-price buying opportunities in the marketplace,” TJX CEO Ernie Herrman said in August.

☆ Holiday bargains will dent retail profits. How investors can avoid taking a beating
▼ + stars: | 2022-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +11 min

Stifel's research found that consumers plan to spend 9% more this holiday season over 2021. Roughly three-quarters of respondents to a PwC holiday poll indicated they plan to spend the same or more this holiday season. Rather than marking down inventory, companies should hold on to it for the next year if their balance sheets can withstand it, said Siegel. Across the board, many flagship retail stores heavily focused on apparel and footwear like Kohl's and Macy's may struggle to lure customers intent on saving money on discretionary purchases. He points to names heavily focused on electronics and home goods purchased by consumers during the pandemic as one of the weaker areas this holiday season.

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