TJX Cos. (TJX) Q4 2025 earnings

TJX Cos. on Wednesday posted a better-than-expected holiday quarter driven entirely by customer transactions, indicating the off-price giant is still taking market share from department stores and other discounters as price-conscious consumers hunt for deals.

In a conference call with analysts, executives added that the company is poised to benefit from the chaotic state of the market, which has been racked by tariff concerns, sliding consumer confidence and persistent inflation.

“I guess the silver lining is, with consumer confidence down and a bit of a rocky environment out there… I’m thinking there’s more availability out there over the next six months, even more than there’s been, which is going to create more buying opportunities for our teams,” CEO Ernie Herrman told analysts. “I’m excited about this. I’m excited about the sales and margin opportunity in this environment.”

The discounter behind T.J. Maxx, Marshall’s and HomeGoods beat Wall Street’s expectations on the top and bottom lines, but it gave cautious guidance for the current fiscal year and current quarter, which the retailer has a tendency to do. It said unfavorable currency exchange rates, plus the new tariffs on goods imported from China, are included in its guidance.

Here’s how TJX did in its fiscal 2025 fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

• Earnings per share: $1.23 vs. $1.16 expected
• Revenue: $16.35 billion vs. $16.20 billion expected

The company’s reported net income for the three-month period that ended Feb. 1 was $1.40 billion, or $1.23 per share, roughly flat compared with $1.40 billion, or $1.22 per share, a year earlier.

Sales were basically unchanged at $16.35 billion, compared with $16.41 billion a year earlier. In the year-ago period, TJX benefited from an extra selling week that it didn’t have in fiscal 2025.

While sales were flat during the quarter, TJX posted just about the same in revenue in 13 weeks in fiscal 2025 as it did in 14 weeks in fiscal 2024. Comparable sales, a key industry indicator that excludes new stores and online sales, also grew 5% during its fiscal fourth quarter, well ahead of estimates of 3.1%, according to StreetAccount. 

For the full fiscal year, TJX sales grew 4% to $56.4 billion with one less selling week than the year-ago period.

For its fiscal 2026, TJX is planning for comparable sales to rise between 2% and 3%, below Wall Street expectations of up 3.4%, according to StreetAccount. Its fiscal 2026 earnings guidance of between $4.34 and $4.43 per share is well below estimates of $4.59 per share, according to LSEG, and its forecast for its current quarter also looks weaker than expected.

TJX is expecting comparable sales to climb between 2% and 3%, behind StreetAccount estimates of 3.4%, and it’s expecting earnings per share to be between…