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Major US retailers have received over $5 billion in tariff refunds this week alone, with Walmart getting $2.9 billion, Target $994 million, and Home Depot $730 million. The Trump administration is refunding approximately $166 billion in tariff revenue after the Supreme Court struck down its sweeping tariff policy, having returned $100 billion so far. Despite studies showing consumers bore the brunt of initial tariff costs through higher prices, most companies are reinvesting the refunds rather than passing savings to shoppers. Retail executives indicated in earnings calls they plan to put the money back into their businesses. Consumers have filed class-action lawsuits against companies receiving refunds, but none have concluded. Americans have limited recourse to recover funds if companies don't voluntarily lower prices.

Off-price rivals pressure TJX's winning formula. The news: TJX's solid Q2 performance was hurt by softer-than-expected sales in its core Marmaxx division, a sign of rising competitive pressure as consumers remain picky about discretionary spending. The numbers: * Net sales rose 5% YoY to $15.18 billion, slightly ahead of the $15.16 billion consensus estimate. * Earnings per share of $1.22 outpaced expectations for $1.19, excluding the impact of a partial tariff refund of $331 million. * Comparable store sales rose 4%, led by HomeGoods (up 7%) and TJX's Canada and International divisions (up 6% and 7%, respectively). Marmaxx grew just 1%, below the company's own expectations. Implications for retail: Despite Marmaxx's softer quarter, both TJ Maxx and Marshalls still have advantages in a challenging environment for discretionary spending. Visits to both chains' stores outpaced traditional apparel retailers and department stores in Q2, according to Placer.ai, showing that the company's treasure-hunt experience and wide array of branded merchandise continue to resonate. However, TJX is facing stiffer competition from fellow off-price operators Burlington and Ross Stores, which are also moving toward better brands in hopes of capturing more dollars from wealthier shoppers. In the second quarter, visits to Ross Dress for Less and dd's Discounts rose 16.4% and 8.4% YoY, respectively, while visits to TJ Maxx and Marshalls were roughly flat, per Placer.ai. TJX is hoping to fend off its rivals with a marketing blitz that includes celebrity-led campaigns featuring the likes of Diana Ross and Mindy Kaling, as well as strategic sports partnerships. But Marmaxx's tepid performance during the quarter suggests TJX will have to give shoppers more reasons to choose its stores and keep them from straying to competitors. This content is part of EMARKETER's subscription Briefings, where EMARKETER Inc. pair daily updates with data and analysis from forecasts and research reports. Its Briefings prepare you to start your day informed, to provide critical insights in an important meeting, and to understand the context of what's happening in your industry. Non-clients can click here to get a demo of its full platform and coverage. You've read 1 of 2 free articles this month. Get more articles - create your free account today!

TJX to accelerate store openings as off-price continues its hot streak. Modern Retail 5h ago amazon walmart target Executive Summary The parent company of TJ Maxx, Marshalls and HomeGoods is ramping up its store count as it sees gains in the off-price channel. Source Lens Industry Context Useful background context, but lower-priority than direct platform, community, or operator intelligence. Impact Level Use this briefing to decide whether your team needs an immediate workflow, policy, or reporting change. Key Stat / Trigger No single quantitative trigger surfaced in this report. Focus on the operational implication, not just the headline. Relevant For Brand Sellers Agencies Full coverage. Earnings // August 19, 2026 TJX to accelerate store openings as off-price continues its hot streak By Julia Waldow Ivy Liu The parent company of TJ Maxx, Marshalls and HomeGoods is ramping up its store count as it sees gains in the off-price channel. TJX Companies plans to increase its store growth from 3% to 4%, starting next year, "to take advantage of the growth opportunities we see out there," CEO Ernie Herrman said on the Aug. 19 earnings call. TJX currently operates 5,285 stores across 10 countries, including the U. S., Canada, Spain and the U. K. TJX Companies is also targeting an overall, long-term global base of 7,500 stores within existing countries, up from its previous goal of 7,000 stores. That extra 500 stores will consist of 300 stores for TJ Maxx and Marshalls, and 200 stores for HomeGoods. The news comes as TJX is "exceeding [its] expectations" on new store openings, CFO John Klinger said on the earnings call. TJX opened 23 new stores in the last quarter, including a second TJ Maxx store in Spain. "We're seeing opportunities in rural markets, where we see department stores are closing," Klinger said. "We've experienced strong comp growth for so many quarters that we're seeing the ability to put stores closer together than we thought before. And then, [we want to build] the small-format store that allows us to expand in a lot of densely populated urban areas, as well." This week, TJX reported net sales of $15. 2 billion in the second quarter of fiscal 2027, up 5% year over year. Net sales for the first half of fiscal 2027 were $29. 5 billion, up 7% from the same period a year ago. TJX also reported receiving $331 million in tariff refunds in the second fiscal quarter. TJX is now raising its full-year pretax profit margin and earnings-per-share outlooks. For the quarter ending Aug. 1, sales at Marmaxx U. S. - a division that includes TJMaxx, Marshalls and Sierra - were up 1% on a comparative basis but "below our expectations," Herrman said in a press release. The other divisions - HomeGoods U. S. , TJX Canada and TJX International (Europe and Australia) - delivered comp sales increases of 7%, 6% and 7%, respectively. On the earnings call, Klinger attributed Marmaxx's underperformance, in part, to a "small decrease in customer transactions." Going forward, the company is focused on bringing "shoppers the right assortments at the right values," Herrman said. TJX calls itself the largest off-price home fashion retailer in the U. S. In a note on Aug. 19, Telsey Advisory Group said the company's earnings "highlight the strength of its value-focused proposition" in an "increasingly price-sensitive environment." The analysts, led by Dana Telsey, added, "A favorable off-price buying landscape continues to enable TJX to effectively meet traffic and demand." The last few years, in general, have been strong for off-price retailers like TJX. Many customers, especially Gen Zers, are looking for ways to stretch their dollars amid inflation and tariffs. Foot-traffic data shows this isn't slowing down. In the first quarter of 2026, visits to Ross Dress for Less rose 17. 7% year over year, while visits to TJ Maxx were up 2. 6%, and visits to Marshalls were up 3%, per Placer. ai. Meanwhile, visits to traditional apparel stores were down 4. 8%. Numerous off-price retailers have stepped up their store counts amid the boom. In July, Ross Stores, Inc. announced it's on track to open approximately 110 new locations in 2026. Nordstrom Rack is adding 25 new locations between Aug. 20 and Nov. 5. And Burlington is set to open 12 stores across eight U. S. states and Puerto Rico in August, as part of its quest to have more than 1,000 locations. Ultimately, at this time, TJX is "confident consumers will continue to look for value" in the months going forward, Herrman said. "We believe we have a large and deeply passionate customer base, a strong brand perception, and an offering that resonates across many age and income brackets," he explained on the earnings call. "We're convinced that we remain a very attractive option for shoppers who want great brands and fashions at excellent value, and believe they will seek out our retail banners this fall and holiday season." Copy link Original Source This briefing is based on reporting from Modern Retail. Use the original post for full primary-source context. LinkedIn Post Generator