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TJX TJX Companies

The TJX Companies, Inc. is an American multinational off-price department store corporation, headquartered in Framingham, Massachusetts. It was formed as a subsidiary of Zayre Corp. in 1987, and became the legal successor to Zayre Corp. following a company reorganization in 1989. As of 2019, TJX operates its flagship brand, TJ Maxx and TK Maxx , Marshalls, HomeGoods, HomeSense, Sierra in the United States, and HomeSense, Marshalls, Winners in Canada. There are over 4,557 discount stores in the TJX portfolio located in nine countries. TJX ranked No. 85 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

Company profile

Ticker
TJX
Exchange
CEO
Ernie Herrman
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
42207613

TJX stock data

(
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Calendar

1 Dec 20
28 Feb 21
1 Feb 22
Quarter (USD)
Oct 20 Aug 20 May 20 Nov 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Feb 20 Feb 19 Feb 18 Jan 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Jan 21 Amy B Lane Common Stock Gift Dispose G No No 0 58 0 29,811
28 Dec 20 Canestrari Kenneth Common Stock Option exercise Dispose M No Yes 67.53 116,640 7.88M 122,347
28 Dec 20 Canestrari Kenneth Common Stock Option exercise Aquire M No No 36.605 39,080 1.43M 238,987
28 Dec 20 Canestrari Kenneth Common Stock Option exercise Aquire M No No 37.52 38,120 1.43M 199,907
28 Dec 20 Canestrari Kenneth Common Stock Option exercise Aquire M No No 36.27 39,440 1.43M 161,787
28 Dec 20 Canestrari Kenneth Option Common Stock Option exercise Dispose M No No 36.605 39,080 1.43M 0
28 Dec 20 Canestrari Kenneth Option Common Stock Option exercise Dispose M No No 37.52 38,120 1.43M 0
28 Dec 20 Canestrari Kenneth Option Common Stock Option exercise Dispose M No No 36.27 39,440 1.43M 0
8 Dec 20 Sherr Richard Common Stock Payment of exercise Dispose F No No 65.42 283 18.51K 90,263
8 Dec 20 Sherr Richard Common Stock Payment of exercise Dispose F No No 65.42 219 14.33K 90,546
89.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1505 1412 +6.6%
Opened positions 207 110 +88.2%
Closed positions 114 128 -10.9%
Increased positions 556 512 +8.6%
Reduced positions 562 584 -3.8%
13F shares
Current Prev Q Change
Total value 72.91B 61.15B +19.2%
Total shares 1.07B 1.06B +0.4%
Total puts 5.28M 4.66M +13.4%
Total calls 10.53M 6.96M +51.3%
Total put/call ratio 0.5 0.7 -25.1%
Largest owners
Shares Value Change
Wellington Management 100.37M $6.85B +2.8%
Vanguard 94.58M $6.46B -1.1%
BLK Blackrock 86.92M $5.94B -14.9%
STT State Street 47.87M $3.27B -7.9%
BK Bank Of New York Mellon 31.48M $2.15B +2.0%
FMR 26.41M $1.8B +19.6%
TROW T. Rowe Price 21.62M $1.48B +45.0%
Alliancebernstein 20.22M $1.38B -5.8%
BAC Bank Of America 19.95M $1.36B +5.4%
JPM JPMorgan Chase & Co. 19.89M $1.36B +20.7%
Largest transactions
Shares Bought/sold Change
Jennison Associates 15.35M +15.34M +152536.5%
BLK Blackrock 86.92M -15.18M -14.9%
TROW T. Rowe Price 21.62M +6.71M +45.0%
Melvin Capital Management 0 -4.6M EXIT
BlueSpruce Investments 3.42M -4.45M -56.6%
FMR 26.41M +4.33M +19.6%
STT State Street 47.87M -4.11M -7.9%
JPM JPMorgan Chase & Co. 19.89M +3.41M +20.7%
Amundi Pioneer Asset Management 7.89M +3.17M +67.2%
Nuveen Asset Management 11.38M +3M +35.9%

Financial report summary

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Risks
  • Failure to execute our opportunistic buying strategy and inventory management could adversely affect our results.
  • Failure to continue to expand our business and operations successfully or to manage our substantial size and scale effectively could adversely affect our financial results.
  • Failure to identify consumer trends and preferences, or to otherwise meet customer demand, in new or existing markets or channels could negatively impact our performance.
  • If we fail to successfully implement our various marketing efforts or if our competitors’ programs are more effective than ours, our revenue or results of operations may be adversely affected.
  • We operate in highly competitive markets, and we may not be able to compete effectively.
  • Economic conditions, on a global level or in particular markets, may adversely affect our financial performance.
  • Our business may be materially and adversely affected by the ongoing COVID-19 pandemic.
  • Failure to employ quality Associates in appropriate numbers and to retain key Associates and management could adversely affect our performance.
  • Compromises of our data security, disruptions in our information technology systems, or failure to satisfy the information technology needs of our business could result in material loss or liability, materially impact our operating results or materially harm our reputation.
  • Damage to our corporate reputation or those of our retail banners could adversely affect our sales and operating results.
  • Quality, safety or other issues with merchandise we buy and sell could damage our reputation, sales and financial results.
  • Failure to comply with laws, rules, regulations and orders and applicable accounting principles and interpretations could negatively affect our business operations and financial performance.
  • Our expanding international operations expose us to risks inherent in operating in new countries.
  • We are subject to risks associated with sourcing merchandise from others, particularly where sourcing from other countries and moving merchandise internationally.
  • Our results may be adversely affected by reduced availability of, or increases in, the price of oil or other fuels, increased costs of other commodities, or other increases in utility, transportation or logistics costs.
  • Fluctuations in currency exchange rates may lead to lower revenues and earnings.
  • Our quarterly operating results fluctuate and may fall short of prior periods, our projections or the expectations of securities analysts or investors, which could adversely affect our stock price.
  • If we engage in mergers or acquisitions or investments in new businesses, or divest, close or consolidate any of our current businesses, our business will be subject to additional risks.
  • Our results may be materially adversely affected by the outcomes of litigation, legal proceedings and other legal or regulatory matters.
  • As our business is subject to seasonal influences, a decrease in sales or margins, a severe disruption or other significant event that impacts our business during the second half of the year could have a disproportionately adverse effect on our operating results.
  • We depend upon strong cash flows from our operations to supply capital to fund our operations, growth, stock repurchases and dividends and interest and debt repayment.
  • Failure to protect our inventory or other assets from loss and theft may impact our financial results.
  • Tax matters could adversely affect our results of operations and financial condition.
  • Our real estate leases generally obligate us for long periods, which subjects us to financial risks.
Management Discussion
  • Although nearly all of our stores were open during the third quarter of fiscal 2021, as a result of the COVID-19 pandemic, our stores were closed in the aggregate for approximately 27% of the first nine months of fiscal 2021. In addition to lost revenues, we continued to pay wages and provide benefits to many of our Associates during the closure, and incurred incremental operating expenses upon reopening for new health and safety practices that are compliant with local requirements as well as additional practices we chose to implement. This significantly impacted the operating results of all of our divisions and our expense ratios as compared to the prior year.
  • –Net sales decreased 3% to $10.1 billion for the third quarter of fiscal 2021 versus last year’s third quarter fiscal 2020 sales of $10.5 billion. As of October 31, 2020, the number of stores in operation (including stores that had been temporarily closed due to COVID-19) increased 1% and selling square footage increased 1% compared to the end of the fiscal 2020 third quarter.
  • –Diluted earnings per share for the third quarter of fiscal 2021 were $0.71 versus $0.68 in the third quarter of fiscal 2020.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: absolute, accommodate, activewear, beauty, chose, context, deadline, deferral, delivery, extinguishment, foregoing, holiday, isolation, Lastly, length, located, Maximum, peak, pm, premium, priority, progressed, refinance, repaid, response, simultaneously, softer, tender, tendered, validly
Removed: commercial, institutional, paper, potentially