TJX Companies, Inc.

Q1 results: strong beat vs plan across the board (good + surprising) - Consolidated comp sales +6% (above plan), driven equally by higher average basket and more customer transactions. - All divisions delivered comp growth and transaction increases (no division “lagging”). - Pretax profit margin: 12% (+170 bps YoY), well above plan; gross margin: 31.3% (+180 bps YoY). - EPS: $1.19 (+29% YoY), well above plan (profitability leverage + merchandise margin strength + fuel hedge benefit). - Key margin drivers cited: higher merchandise margin, favorable inventory, fuel hedges, and SG&A expense leverage.

Divisional performance highlights (good, broadly based) - Marmaxx: comp +6%; segment profit margin +100 bps to 14.7%. - HomeGoods: comp +9% (remarkable); segment profit margin +270 bps to 12.9%. - TJX Canada: comp +7%; profit margin +100 bps (constant currency) to ~4.7–ish (exact figure partly obscured). - TJX International: comp +4%; profit margin +40 bps (constant currency) to 4.7%. - Spain expansion: opened first store in Spain with “terrific” customer response; management confident in further share gains.

Inventory + capital return (good, with shareholder focus) - Inventory balance up 8% and inventory per store up 7%, with management saying availability/positioning is strong (supports growth and assortment freshness). - Capital return: returned $1.1B to shareholders in Q1 via buyback + dividend. - Raised fiscal 2027 share buyback guidance to $2.75B–$3.0B (more opportunistic repurchases at favorable prices).