TJX faces market risks from fluctuating interest rates, foreign currency exchange rates, and fuel costs. Uncertainty exists regarding the final global minimum tax rules (Pillar Two) and their potential impact on global tax costs. Possible changes in facts or law, or resolutions of tax positions, could materially affect unrecognized tax benefits. Legal proceedings, lawsuits, and disputes are also potential risks. The company's investments in joint ventures and minority positions are subject to the performance of those entities, with results reported with a one-quarter lag.
Financial Upside
TJX experienced a 6% increase in net sales for the third quarter of fiscal 2025 compared to the prior year. Comparable store sales increased 3% in the third quarter of fiscal 2025. The company's cost of sales ratio decreased slightly, and the pre-tax profit margin increased by 0.3 percentage points. TJX repurchased $1.7 billion in shares during the first nine months of fiscal 2025, and has $1.9 billion remaining under its stock repurchase program.
