Global off-price retailer
TJX Companies
TJX sells discounted apparel and home fashions through TJ Maxx, Marshalls, HomeGoods and other banners. It sources from roughly 21,000 vendors and operates mostly leased stores. Net sales for the quarter ended August 1, 2026 were about $15.2 billion, up 5% year over year.
Business categories Mass Retail · Consumer Brands & Commerce · primary
- Mass Retail: E-mart Inc. · Walmart Inc · Dollar Tree, Inc. · Casey's · Target Corporation
TJX Updated Oct 20, 2026 5 AI consumers· 3 recurring
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).
Financials & Segments
- Total revenue · US$60.372 billion for the fiscal year ended January 31, 2026 (FY2026, SEC XBRL)
- Segments · Marmaxx · HomeGoods · TJX Canada · TJX International
Revenue from
- U.S. Marmaxx and Sierra customers High confidence· Amount $36.6B · FY2026 · Net sales generated from Marmaxx segment customers, including Sierra
Customers of TJ Maxx and Marshalls in the United States buy apparel, accessories and home fashions and form the core demand base for Marmaxx. Sierra is included in this segment, while value-conscious off-price demand supports sales.Mentions KO The Korea Economic Daily Published Dec 11, 2025: Bargain-Seeking Consumers Flock to TJX as the Stock Surges - U.S. HomeGoods and Homesense customers High confidence· Amount $10.2B · FY2026 · Net sales generated from HomeGoods segment customers
HomeGoods and U.S. Homesense customers purchase home-fashion merchandise including furniture, rugs, lighting, cookware and decorative accessories. TJX reports the FY2026 net sales generated from this customer base as a separate segment.
Pays to
- Federal Realty Investment Trust High confidence· Amount $24M · annualized as of 2026-06-30 · Annualized base rent reported by Federal Realty for 40 TJX leased locations
TJX leases 40 locations from Federal Realty. Federal Realty reported $24.116 million of annualized base rent, or 2.41% of the total, at June 30, 2026. - Simon Property Group High confidence
TJX operates leased TJ Maxx, Marshalls and HomeGoods stores at multiple U.S. shopping centers owned or co-owned by Simon Property Group. Neither company discloses the rent attributable to this landlord relationship, so the amount is left blank.
Investments
- Brands for Less High confidence· Amount $358M · FY2025 Q4 · Amount invested for a 35% stake in Brands for Less, including acquisition costs
TJX acquired a 35% stake in Middle Eastern off-price retailer Brands for Less. The US$358 million investment, including acquisition costs, is a non-controlling minority position.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| TJX Companies | node | +12.8 | +6.7 | +19.7 | +30.6 | +28.7 | -13.2 |
| Federal Realty Investment Trust | benef1 | +66 | -22.7 | +6.6 | +12.1 | -5.9 | +19.8 |
| Simon Property Group | benef1 | +95.7 | -21.9 | +29.2 | +26.9 | +12.9 | +11.4 |
| Truist Financial | benef2 | +26.1 | -23.5 | -8.6 | +23.7 | +19 | +8.2 |
| Wells Fargo | benef2 | +61.1 | -11.9 | +22.9 | +46.5 | +35.6 | -10.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
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.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple