The TJX Cos., Inc. engages in the retail of off-price apparel and home fashion products. It operates through the following segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The Marmaxx segment sells family apparel including footwear and accessories; and home fashions including home basics, decorative accessories, giftware, and other merchandise. The HomeGoods segment offers an assortment of home fashions, including furniture, rugs, lighting, soft home, decorative accessories, tabletop and cookware as well as expanded pet, kids and gourmet food departments. The TJX Canada segment operates the Winners, Marshalls, and HomeSense chains in Canada. The TJX International segment includes the T.K. Maxx and HomeSense chains in Europe, and T.K. Maxx chain in Australia. The company was founded by Stanley Harris Feldberg and Sumner L. Feldberg in 1956 and is headquartered in Framingham, MA.
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 to 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.
Failure to employ quality Associates in appropriate numbers and to retain key Associates and management could adversely affect our performance.
Labor costs, including wage, pension and healthcare costs, and other challenges from our large workforce may adversely affect our results and profitability.
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.
Economic conditions, on a global level or in particular markets, may adversely affect our financial performance.
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 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 results may be adversely affected by serious disruptions or catastrophic events, as well as adverse or unseasonable weather.
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.
Tax matters could adversely affect our results of operations and financial condition.
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.
Our real estate leases generally obligate us for long periods, which subjects us to financial risks.
Failure to protect our inventory or other assets from loss and theft may impact our financial 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.
The U.K’s decision to leave the European Union (“EU”), commonly referred to as “Brexit”, remains unsettled. Should the U.K. exit the EU, there are several possible outcomes each of which creates risks for TJX, especially in our European operations. Our TJX Europe management team has evaluated a range of possible outcomes, sought to identify areas of concern and implemented strategies to mitigate them. Our current European operations benefit from the free movement of goods and labor between the U.K. and EU. As a result, we believe Brexit could have a negative impact on our ability to efficiently move merchandise between the U.K. and the EU. Brexit could also have a negative impact on our talent in the region, both by impacting current Associates, who are either EU citizens working in the U.K. or U.K. citizens working in the EU, and potentially impacting recruitment and retention for our European operations in the future.