TJX Companies Surpasses $50 Billion in Sales, Outperforming Traditional Retailers

The off-price retail giant announces record-breaking financial results and strategic plans for shareholder returns.

TJX Companies, parent of TJ Maxx, Marshalls, and Sierra, reported a record-breaking $54.2 billion in sales for the fiscal year ending February 3, 2024.
The off-price retail giant saw a net income increase to $4.5 billion, up 30% from the previous year, with significant growth in comparable store sales across all divisions.
TJX plans to return $4.0 billion to shareholders, including a 13% increase in the quarterly dividend and a stock repurchase program of $2 to $2.5 billion.
The retailer's success contrasts sharply with traditional department stores like Macy's, which reported a 6.2% sales decline last year.
Analysts highlight TJX's appeal to value-focused consumers and its potential to gain market share from department store closures.