TJX Companies Inc
TJX: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$55.00 | Kmk | Mxkyfhd |
TJX Value Proposition Benefiting From Consumer Caution in the Full-Price Channel
Business Strategy and Outlook
Despite ongoing inflation and an unsettled economy, we believe TJX and the rest of the off-price sector are better suited than most retailers, with potential for improved merchandise availability as shifting spending patterns upset full-price stores’ merchandise orders. We still believe TJX and its peers benefit from durable advantages over full-price apparel and home décor sellers, with strong brands, store experiences, and scale working to keep returns on invested capital high (averaging 30% over the next decade).