# If TJX Companies moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/tjx-companies · Facet: ripple · Updated: 2026-10-13T20:25:00.283+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: 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 6 dated sources, 4 of them primary filings (as of 2026-10-13).

Off-price demand reached retailer equities before it reached the landlord. TJX gained 19.7% in 2023, 30.6% in 2024 and 28.7% in 2025; Ross Stores gained 20.6%, 10.4% and 20.4%. Federal Realty returned only 6.6%, 12.1% and -5.9% over the same years, so retailer recovery did not transmit directly into the REIT. The chain diverged again in 2026: TJX fell 13.2% while Ross rose 28.6% and Federal Realty rose 19.8%. Federal Realty reports only $24.116 million of annualized base rent from TJX, or 2.41% of the total, limiting single-tenant shock. The next test is whether TJX sales recovery and Federal Realty rent spreads can strengthen at the same time.

## Supply chain (benefiting)
- T1 Simon Property Group (https://valuechain.wiki/simon-property-group.md)
- T1 Federal Realty Investment Trust (https://valuechain.wiki/federal-realty-investment-trust.md)
- T2 Wells Fargo (https://valuechain.wiki/wells-fargo.md)
- T2 Truist Financial (https://valuechain.wiki/truist-financial.md)

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Full node: https://valuechain.wiki/tjx-companies.md · JSON: https://valuechain.wiki/tjx-companies.json