TJX Companies (TJX) investor relations material

Executive summary

• Q4 and full-year results exceeded expectations, with comp sales up 5% across all divisions and strong profitability growth.

• Annual net sales surpassed $60 billion for the first time, with double-digit EPS growth and all divisions posting at least 4% comp sales growth.

• Q4 adjusted diluted EPS was $1.43, up 16% YoY; Q4 diluted EPS rose 28% YoY to $1.58.

• Returned $4.3 billion to shareholders in FY26 via buybacks and dividends.

• Q1 of fiscal 2026 started strong, with ongoing investments in store remodels and new formats.

Financial highlights

• Q4 net sales reached $17.7 billion, up 9% YoY; full-year net sales were $60.4 billion, up 7% YoY.

• Q4 adjusted pre-tax profit margin was 12.2% (+60 bps YoY); Q4 gross profit margin was 30.9%, up 0.4 pts; adjusted gross margin 31.1%, up 0.6 pts.

• Q4 net income was $1.8 billion; full-year net income was $5.5 billion.

• Operating cash flow for the year was $6.9 billion; year-end cash $6.2 billion.

• Inventory at year-end was $7.3 billion, up 10% per store on a reported basis.

Outlook and guidance

• FY27 guidance: comparable sales up 2–3%, sales expected at $62.7–$63.3 billion (+4%–5%), pretax profit margin 11.7%–11.8%, gross margin 31.1%–31.2%, diluted EPS $4.93–$5.02.

• Q1 FY27 guidance: sales expected at $13.8–$13.9 billion (+5%–6%), comparable sales up 2–3%, pretax profit margin 10.3%–10.4%, EPS $0.97–$0.99 (+5%–8% YoY).

• Capital expenditures planned at $2.2–$2.3 billion, with 146 net new stores and 540 remodels.