Morningstar Rating

Stock Research and Analysis

by Bridget Weishaar

Bulls Say

With its off-price retailing model and last-minute inventory purchasing, TJX performs better in this climate of economic uncertainty than many other apparel retailers.
TJX has managed to profitably penetrate international markets, a feat achieved by few of its peers. This gives the firm a significant growth opportunity.
Scale allows TJX to have more flexibility in inventory management, resulting in better merchandising at the local level and fewer markdowns. Read more 

Bears Say

TJX may eventually have difficulty sourcing merchandise if the economy improves and suppliers have better sell-through or if more competitors enter the space.
TJX will have to increasingly rely on its new chains and international expansion for growth, which could be tricky if economic instability remains in Europe.
If consumer confidence stabilizes and spending improves, consumers may trade back up to full-price retailers. Read more 

Management

The management team has extensive retail experience within and outside the company. Carol Meyrowitz has been CEO since 2007 and was president from 2005 to 2011. She has held various merchandising, consulting, and executive roles since joining TJX in   Read more 

Profile

TJX Companies is the nation's largest off-price retailer of brand-name and designer apparel and home fashions, selling its assortment at prices generally 20%-60% lower than   Read more 

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