Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
The second quarter of fiscal 2027 was defined by a large one-time IEEPA tariff refund, which TJX recognized as a $219 million net benefit within cost of sales. Management attributed the quarter’s profitability improvement partly to that refund along with higher merchandise markon, while consolidated comp sales grew 4%. The key tension is that SG&A expense rose 10% year over year and Marmaxx comparable-store sales growth slowed to 1%, even as HomeGoods and international segments delivered stronger growth. Net sales grew 5%, but excluding the tariff refund, earnings growth would have been materially lower.
Cost of Revenue
$10.11B
+1.32% YoY
EPS (Diluted)
$1.36
+23.64% YoY
Source: SEC XBRL
Tjx (TJX) reported Q2 FY2027 revenue of $10.11B, up 1.3% year over year. TJX's fiscal Q2 FY2027 corresponds to calendar Q3 2026.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Sep 2026This filing | 1.22 | 1.20 | Beat +1.6% |
| Jun 2026 | 1.19 | 1.03 | Beat +15.9% |
| Mar 2026 | 1.43 | 1.40 | Beat +1.9% |
| Dec 2025 | 1.28 | 1.23 | Beat +3.7% |
Adjusted (non-GAAP) EPS of $1.22 versus the $1.20 analyst consensus — a +1.6% beat for Sep 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $1.36.
4 reported segments · SEC XBRL
Segment revenue totals $15.18B, which is the $15.18B of consolidated revenue on the income statement.
Profit above is reported as operating income, the measure TJX itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-Q Item 2 of this filing
TJX received $331 million of IEEPA-related tariff refunds during Q2 FY2027 and recognized a net benefit of $219 million after accruing $112 million for incentive compensation and bonuses. The net benefit is included in cost of sales and contributed $0.14 to diluted EPS.
Source: 10-Q Item 2 MD&A
Consolidated comp sales increased 4% in Q2 FY2027, driven by a higher average basket and an increase in customer transactions. Home comp sales growth outperformed apparel comp sales growth for the quarter and first six months.
Source: 10-Q Item 2 MD&A
Cost of sales, including buying and occupancy costs, fell 2.7 percentage points to 66.6% of net sales, driven by tariff refunds and higher markon. SG&A expense ratio rose 0.8 percentage points to 20.3%, driven by incentive compensation accruals and store wage and payroll costs.
Source: 10-Q Item 2 MD&A
TJX increased its long-term global store target to 7,500 total stores, reflecting an increase of 300 stores for Marmaxx and 200 stores for HomeGoods. Store count and selling square footage both increased approximately 3% year over year.
Source: 10-Q Item 2 MD&A
TJX returned $1.3 billion to shareholders in Q2 FY2027 through share repurchases and dividends. For the first half, share buybacks totaled $1.42 billion and dividend payments totaled $1 billion, with full-year buybacks planned at $2.75 billion to $3.0 billion.
Source: 10-Q Item 2 MD&A
Compiled by AI from this SEC filing · 0 high, 4 medium, 1 low
Current assets grew 15.4% year over year to $15.33 billion, but current liabilities grew 18.1% to $13.36 billion, leaving a current ratio of 1.15. This thin cushion could become strained if operating cash flow weakens or unexpected cash needs arise.
Source: 10-Q Balance Sheet (XBRL)
SG&A expense increased 10.0% year over year in Q2 FY2027, while cost of revenue rose only 1.3%. If SG&A growth continues at this pace, it may erode the profitability gains from lower cost of sales.
Source: 10-Q Income Statement (XBRL)
Net income rose 22.3% while cost of revenue rose only 1.3%, an unusually wide gap. If the favorable cost factors driving this gap reverse, net income growth could slow.
Source: 10-Q Income Statement (XBRL)
Financing activities used $2.36 billion of cash in the first half of fiscal 2027, and share buybacks increased 24.0% to $1.42 billion, while dividends also consumed cash. A downturn in operating cash flow could make these capital returns harder to sustain.
Source: 10-Q Cash Flow (XBRL)
Current liabilities jumped 18.1% and long-term debt fell 34.7% to $1.87 billion, consistent with debt being reclassified to current maturities. The company may need to repay or refinance significant obligations in the near term.
Source: 10-Q Balance Sheet (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Cost of Revenue $B | 10.11 $B | 9.98 $B | +1.32% |
Net Income $B | 1.52 $B | 1.24 $B | +22.28% |
EPS (Basic) $ | 1.38 $ | 1.11 $ | +24.32% |
EPS (Diluted) $ | 1.36 $ | 1.10 $ | +23.64% |
SG&A Expense $B | 3.09 $B | 2.81 $B | +9.98% |
Answers draw on this SEC filing and the data on this page
TJX delivered strong Q1 FY2027 profitability growth, with net sales up 9% to $14.3B, diluted EPS up 29% to $1.19, and a 1.8-percentage-point improvement in its cost-of-sales ratio, while tariff-refund uncertainty and elevated capital spending remain notable considerations. Source: 10-Q Item 2 MD&A, p.22-24, 29-30
TJX delivered strong FY2026 results with net income rising 13.0% to $5.49B and EPS of $4.87 (diluted), driven by robust operating cash flow of $6.87B and a significant reduction in long-term debt of 34.8%.
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