TJX Shares Down 16% as Marmaxx Growth Slows to 1% in Fiscal 2027
TJX Companies reported only 1% comparable sales growth in its Marmaxx division for the second quarter of fiscal 2027, while shares have fallen 16% since a June 13 record. CEO Ernie Herrman called the missteps self-inflicted and controllable, citing improvement in August. The company remains focused on expansion, including its recent entry into Spain.
TJX Companies shares have come under pressure recently, declining about 16% since hitting a record high on June 13. In its earnings conference call, the company attributed the weak quarterly performance to the right merchandise not being in the right stores at the right time, while noting that August has shown signs of improvement. Its Marmaxx division, which operates TJMaxx, Marshalls and Sierra stores, reported comparable sales growth of just 1% in the second quarter of fiscal 2027. Chief Executive Ernie Herrman described the missteps as self-inflicted and within the company's control. The business continues to expand into new markets, having entered Spain in the first quarter of the current fiscal year. Operations across new ventures such as HomeSense and Sierra Trading Post, as well as its international business, are also progressing.