TJX Raises Fiscal 2027 Outlook as Q2 Results Show Broad-Based Growth

TJX raised its fiscal 2027 adjusted EPS guidance to $5.15-$5.20 after second-quarter results beat expectations. The off-price retailer posted 11% earnings growth and 4% comparable sales growth, driven by higher merchandise margins and gains across divisions. The company also lifted its long-term global store target by 500 locations to 7,500 stores, planning 4% annual store growth starting in fiscal 2028.

The stronger outlook comes despite slower momentum at Marmaxx, TJX's largest division, which delivered only 1% comparable-sales growth in the quarter. Management cited merchandise-mix issues for the weaker performance in the segment that includes T.J. Maxx and Marshalls.

The guidance raise and expanded store footprint signal confidence in the off-price model's ability to capture market share, even as the Marmaxx slowdown raises questions about execution in the core U.S. business. The 500-store addition to the long-term target represents meaningful incremental growth potential beyond current street models.