Photo: Flickr.com/Nicholas Eckhart

About TJX Companies

The TJX Companies operate the T.J. Maxx, Marshalls and HomeGoods chains in the United States, the Winners, HomeSense and Marshalls chains in Canada, and the T.K. Maxx and HomeSense chains in several countries across Europe. The company core competency is in chains sell off-price apparel and home furnishings. TJX has over 3,300 stores across all its chains and employs nearly 200,000 people, most of them on a part-time basis.

TJX’s history goes back to 1919, when brothers Max and Morris Feldberg founded the New England Trading Company in Boston, MA. In 1929, the brothers opened their first retail store, which was dedicated to selling ladies hosiery. The Feldbergs continued to expand through the ‘30s and ‘40s and by 1949 they had a chain of women’s apparel stores stretching from New England to Washington, D.C.

In 1956 the founder’s sons, Sumner and Stanley Feldberg opened the first Zayre discount department store in Hyannis, MA. Six years later the Zayre chain began trading publicly on the NYSE.

Twenty years later, the company made a major decision to develop a new chain of discount retail stores focusing on apparel and home décor products. The first two T.J. Maxx stores opened in 1977 in Auburn and Worcester, MA. Over the next two decades, Zayre would acquire smaller discount retailers and develop a mail order catalog business. By 1989, the company had changed its name to The TJX Companies. The company’s business included the T.J. Maxx and Hit or Miss chains and the Chadwick’s of Boston mail order business.

TJX expanded into Canada in 1990 with the purchase of Winners Apparel; in 1992, the company launched the HomeGoods chain to focus exclusively on home décor products. TJX also acquired the Marshall’s chain in 1995. Since then, TJX has expanded into the United Kingdom, Ireland, Germany and Poland with the T.K. Maxx brand (an overseas version of T.J. Maxx) and plans further expansion into Austria and The Netherlands.

TJX divides its business into 4 divisions. The Marmaxx Group operates the company’s T. J. Maxx and Marshall’s 2,094 stores in the U.S.; the HomeGoods division operates the 487 HomeGoods stores in the U.S.; and TJX Canada and TJX Europe are responsible for the company’s operations in Canada (368 stores) and Europe (450 stores), respectively.

The company is a member of the S&P 500 index and trades under the ticker symbol TJX.

As a member of the S&P 500, once TJX Companies has increased dividends for 25 consecutive years S&P should classify the company as an S&P Dividend Aristocrat. Given that TJX has made a conscious effort to increase the dividend each year for 19 years straight, I expect them to continue to do so. The company is currently on track to become a Dividend Aristocrat at the beginning of 2022.

TJX Companies’ Dividend and Stock Split History

TJX Companies restarted their record of dividend growth in 1997. Since then, the company has traditionally announced dividend increases at the end of March, with the stock going ex-dividend in mid-May.

TJX Companies has compounded its payout at an average rate of 21.9% over the last 5 years and 21.6% over the last 10 years.

TJX Companies has split its stock 4 times in the last two decades, each time 2-for-1. The company split its stock in June 1997, June 1998, May 2002 and, most recently, in February 2012. A single share purchased 20 years ago would have split into 16 shares.

TJX Companies’ Direct Purchase and Dividend Reinvestment Plans

TJX Companies does not have a direct purchase or dividend reinvestment plan. In order to invest in TJX Companies’ stock, you’ll need to purchase it through a broker. Most brokers will allow you to reinvest dividends without any fee. Ask your broker for more information on how to set this up if you are interested.

Helpful Links

TJX Companies’ Investor Relations Website

Current quote and financial summary for TJX Companies (finviz.com)