Global off-price retailer
TJX Companies
TJX Companies earns revenue by selling discounted apparel and home-fashion merchandise through banners including TJ Maxx, Marshalls and HomeGoods. It sources inventory and special-production goods from about 21,000 vendors, operates nearly all stores in leased locations and holds stakes in overseas off-price businesses.
Business categories Mass Retail · Consumer Brands & Commerce · primary
TJX Updated Oct 13, 2026 4 AI consumers· 2 recurring
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).
Financials & Segments
- Total revenue · US$60.372 billion for the fiscal year ended January 31, 2026 (FY2026, SEC XBRL)
- Segments · Marmaxx · HomeGoods · TJX Canada · TJX International
Revenue from
- U.S. Marmaxx and Sierra customers High confidence· Amount $36.6B · FY2026 · Net sales generated from Marmaxx segment customers, including Sierra
Customers of TJ Maxx and Marshalls in the United States buy apparel, accessories and home fashions and form the core demand base for Marmaxx. Sierra is included in this segment, while value-conscious off-price demand supports sales.Mentions KO The Korea Economic Daily Published Dec 11, 2025: Bargain-Seeking Consumers Flock to TJX as the Stock Surges - U.S. HomeGoods and Homesense customers High confidence· Amount $10.2B · FY2026 · Net sales generated from HomeGoods segment customers
HomeGoods and U.S. Homesense customers purchase home-fashion merchandise including furniture, rugs, lighting, cookware and decorative accessories. TJX reports the FY2026 net sales generated from this customer base as a separate segment.
Pays to
- Federal Realty Investment Trust High confidence· Amount $24M · annualized as of 2026-06-30 · Annualized base rent reported by Federal Realty for 40 TJX leased locations
TJX leases 40 locations from Federal Realty. Federal Realty reported $24.116 million of annualized base rent, or 2.41% of the total, at June 30, 2026. - Simon Property Group High confidence
TJX operates leased TJ Maxx, Marshalls and HomeGoods stores at multiple U.S. shopping centers owned or co-owned by Simon Property Group. Neither company discloses the rent attributable to this landlord relationship, so the amount is left blank.
Investments
- Brands for Less High confidence· Amount $358M · FY2025 Q4 · Amount invested for a 35% stake in Brands for Less, including acquisition costs
TJX acquired a 35% stake in Middle Eastern off-price retailer Brands for Less. The US$358 million investment, including acquisition costs, is a non-controlling minority position.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| TJX Companies | node | +12.8 | +6.7 | +19.7 | +30.6 | +28.7 | -13.2 |
| Federal Realty Investment Trust | benef1 | +66 | -22.7 | +6.6 | +12.1 | -5.9 | +19.8 |
| Simon Property Group | benef1 | +95.7 | -21.9 | +29.2 | +26.9 | +12.9 | +11.4 |
| Truist Financial | benef2 | +26.1 | -23.5 | -8.6 | +23.7 | +19 | +8.2 |
| Wells Fargo | benef2 | +61.1 | -11.9 | +22.9 | +46.5 | +35.6 | -1.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
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.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple