Ernie Herrman, president & CEO of The TJX Cos., Inc.
4 hours ago
TJX grows worldwide presence to 5,000+ stores; annual revenues surpass $56B
Photo/Grant Welker
TJX's Framingham headquarters
Framingham-based retail parent TJX Cos. now operates more than 5,000 locations, as fiscal 2025 saw sales at its stores grow 4%.
TJX had a net gain of 131 locations in fiscal 2025, bringing its total number of retail stores to 5,085 across the U.S., Canada, Europe, and Australia, according to a press release issued Wednesday as part of yearly earnings release. The year saw the company have a pretax profit margin of 11.5% and diluted earnings per share of $4.26, both of which were above the firm’s projections.
“I am very proud of the performance of our hard-working Associates in 2024,” Ernie Herrman, CEO and president of TJX, said in the press release. “We delivered outstanding top-and bottom-line results that exceeded our guidance for the year. We surpassed $56 billion in annual sales, drove a 4% comparable store sales increase, significantly increased profitability, and opened our 5,000th store during the year. Further, each of our divisions saw strong, consistent full year comp store sales growth of 4% or above.”
Herrman was the highest-paid executive of any Central Massachusetts company in fiscal 2023, a title he has held for three consecutive years as TJX has continued to expand its global reach; the company purchased a $360-million minority stake in Dubai-based discount retailer Brands for Less in August and in June announced a joint venture with Grupo Axo, S.A.P.I. de C.V, a Mexican apparel company with a large presence in Latin America.
TJX saw $56.36 billion in total net sales in fiscal 2025, up 4% from $54.22 billion in sales seen the previous year. It saw its largest net growth in sales in Europe and Australia, where sales grew 6%, from $6.77 billion to $7.18 billion. The company returned $4.1 billion to shareholders in fiscal 2025 through share repurchases and dividends.
As other companies have shrunk their physical office space in suburban Central Massachusetts markets, TJX has plans for expansions, having purchased two Framingham office properties near its existing campus for $24.3 million in January.
Founded in 1987, TJX operates brands that include Marshalls, TJ Maxx, and HomeGoods. The company is traded on the New York Stock Exchange, with shares trading around $126 as of Wednesday morning, up 5.14% in the last six months.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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