Jefferies reaffirms its 'buy' recommendation and $110 price target on TJX Cos, following a meeting with the retail group's management and a visit to stores near its headquarters.
The broker sensed a positive and enthusiastic tone from management in the run-up to the holidays. TJX continues to enjoy strong traffic growth, an attractive shopping environment and a value proposition that resonates well with customers", he continues.
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The TJX Companies, Inc. is No. 1 in America of discount retail distribution of clothing and household items. Net sales break down by family of products as follows:
- apparel and accessories (46%);
- home goods (39%): home furnishings, lamps, rugs decorative accessories, etc.;
- jewelery and accessories (15%).
At 30/01/2021, the group had a network of 4,572 stores located in the United States (3,305, of which 1,271 T.J. Maxx, 1,131 Marshalls, 821 HomeGoods, 48 Sierra and 34 Homesense), Canada (525, of which 280 Winners, 143 HomeSense and 102 Marshalls), Europe and Australia (742, of which 602 T.K. Maxx, 78 HomeSense and 62 Trade Secret).
Net sales are distributed geographically as follows: the United States (79.2%), Europe and Australia (12%) and Canada (8.8%).
THE TJX COMPANIES 
