TJX maintains momentum in Q3; holiday season off to ‘strong start’
TJX Cos. Inc. reported better-than-expected earnings and revenue for its third quarter, boosted by strong results from its international division.
The off-price giant also said it plans to enter Spain with its TK Maxx banner in early 2026. The news comes as TJX has been expanding its international footprint. In June, the company announced plans to expand into Mexico through a joint venture with Grupo Axo, S.A.P.I. de C.V., and in June it acquired partial ownership of Middle Eastern off-price retailer Brands for Less.
"We’ve been looking at the Spanish market for quite some time, and are confident that the timing is right,” TJX president and CEO Ernie L. Herrman said on the company’s earnings call.
Hermann told analysts that the company expects its first stores in Spain to open in early 2026 and long-term, "we see the potential to open more than 100 stores in Spain."
Net income totaled $1.297 billion, or $1.14 a share, for the quarter to Nov. 2, up from $1.191 billion, or $1.03 a share, in the year-ago period. Analysts had expected earnings per share of $1.09.
Sales rose about 6% to $14.06 billion from $13.26 billion, topping analysts’ estimates of $13.95 billion.
Same-store sales rose 3%, which the retailer said was at the high-end of its plan. By segment, same-store sales rose 2% at Marmaxx ( includes TJ Maxx, Marshalls, and Sierra) and 3% at HomeGoods. Same-store sales increased 2% at TJX Canada and jumped 7% at TJX International (Europe and Australia).
“Across the company, customer transactions drove our comp sales increases, which tells us that our values and treasure hunt shopping experience are appealing to a wide range of customers,” stated Herrman in the earnings release. “With our above-plan profitability results in the third quarter, we are raising our full year guidance for pretax profit margin and earnings per share. The fourth quarter is off to a strong start, and we are excited about our opportunities for the holiday selling season.”
The company is now expecting full-year earnings per share to range from $4.15 to $4.17, up from its previous guidance of $4.09 to $4.13. It still expects same-store sales to rise 3%, but raised its pretax profit margin guidance to 11.3%, up from 11.2% previously.
TJX operate 5,057 stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense and Sierra in the U.S.; Winners, HomeSense and Marshalls in Canada; TK Maxx and Homesense in Europe, and TK Maxx in Australia. It also operate e-commerce sites for TJ Maxx, Marshalls and Sierra in the U.S. and three sites for TK Maxx in Europe.
