Our business model has been built to have tremendous flexibility and adapt with the times. Over our more than four decades as a Company, we have generally delivered steady sales and earnings growth through many retail and economic environments across different geographies. Over the course of our history our history, our strong financial returns and cash generation have allowed us to simultaneously invest in the growth of the business and return cash to shareholders for decades. While our business was negatively impacted by the COVID-19 global pandemic, including numerous temporary store closures and government-mandated shopping restrictions, we maintained an unwavering focus on the execution of our off-price business model. Our strong sales and net income performance in fiscal 2022 gives us great confidence in the outlook for our business and that we are well on our way to becoming an increasingly profitable, $60 billion-plus company!
We believe significant opportunity remains to deliver value to more consumers and gain market share across the globe over the long term. At TJX, our commitment to value has been our mission since day one and we have never wavered. We are convinced that our off-price model and combination of brand, fashion, price, and quality will continue to be our winning retail formula going forward.
As we pursue our long-term goals for global growth, we see our major strengths as the following:
- World-class buying organization
- Global sourcing and distribution capabilities
- Integrated global business with all major divisions having 25 years or more of off-price operating expertise and knowledge in the U.S., Canada, and Europe
- One of the most flexible retail business models in the world
Our primary, longer-term growth strategies are:
- Driving customer traffic and sales growth
- Growing our global store base
To learn more about our major strengths and growth drivers, we invite you to explore the other key success factors in this section of our website.
As of January 29, 2022, which was the end of the Company’s fiscal year.