# If TJX Companies moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/tjx-companies · Facet: ripple · Updated: 2026-10-20T20:25:54.851+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, TJX Companies is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 4 companies within two hops; the links are backed by 7 dated sources, 5 of them primary filings (as of 2026-10-20).

TJX shares and landlord shares did not rise sequentially in one direction. TJX returned 19.7%, 30.6% and 28.7% in 2023-2025, while major landlord Federal Realty returned 6.6%, 12.1% and -5.9%. Simon took a different path at 29.2%, 26.9% and 12.9%. In 2026 the returns diverged again: TJX -13.2% and Ross +28.6% through September 4, Simon +11.4% through October 9. TJX reported about $15.2 billion of net sales and 4% comparable-sales growth for the quarter ended August 1, 2026, so its share decline alone is not evidence of collapsing demand. Federal Realty disclosed $24.116 million of annualized base rent from TJX, or 2.41% of total, but Simon-specific rent remains undisclosed. The lagging test is whether rent renewals turn into REIT net operating income; rates and acquisition accounting may interrupt equity transmission.

## Supply chain (benefiting)
- T1 Simon Property Group (https://valuechain.wiki/simon-property-group.md)
- T1 Federal Realty Investment Trust (https://valuechain.wiki/federal-realty-investment-trust.md)
- T2 Wells Fargo (https://valuechain.wiki/wells-fargo.md)
- T3 Fiserv (https://valuechain.wiki/fiserv.md)
- T2 Truist Financial (https://valuechain.wiki/truist-financial.md)

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