BottomBounce
5 days ago
TJX Companies, the parent company of T.J. Maxx, Marshalls, and HomeGoods, has been involved in several lawsuits, including those related to selling recalled products, wage and hour violations, deceptive pricing practices, and alleged ADA violations.
Here's a breakdown of some of the key lawsuits:
1. Selling Recalled Products:
In 2022, TJX agreed to pay a $13 million civil penalty for selling, offering for sale, and distributing approximately 1,200 recalled products from 21 separate voluntary corrective actions during a five-year period (March 2014 through October 2019).
The recalled products included items like the Fisher-Price Rock 'n Play Sleeper, which was linked to infant deaths.
The company was accused of continuing to sell these products through its retail stores and online.
2. Wage and Hour Violations:
TJX has faced lawsuits alleging wage and hour violations, including claims that assistant store managers were improperly classified as exempt and denied overtime.
In 2020, the company agreed to pay $31.5 million to settle class action claims brought by assistant store managers under the Fair Labor Standards Act (FLSA) and New York labor law.
The settlement involved 1,900 current and former assistant store managers who worked in Marshalls, HomeGoods, and combination stores.
3. Deceptive Pricing Practices:
TJX has been sued for allegedly using deceptive "COMPARE AT" prices to mislead consumers into believing they are purchasing merchandise at a discount and that the merchandise is of a higher quality than it actually is.
In 2017, a class-action lawsuit was filed against T.J. Maxx stores for allegedly deceptively advertising "phantom markdown[s]".
The lawsuit charged T.J. Maxx with unfair business practices, fraudulent business practices, unlawful business practices, false advertising, and with violating California's Consumer Legal Remedies Act.
4. Other Lawsuits:
ADA Violations:
TJX has been sued over alleged violations of the Americans with Disabilities Act (ADA), specifically regarding the lack of full accessibility to a public restroom.
Copyright Infringement:
Star Fabrics brought a lawsuit against TJX, alleging that TJX created, sold, manufactured, and distributed fabric and garments featuring unauthorized reproductions of three designs that are substantially similar to the plaintiff's registered designs.
Class Action Lawsuit for Spyware:
A proposed class action lawsuit alleges that TJX secretly embedded web-tracking technology into its marketing emails to collect information about email recipients without their knowledge or consent. $TJX
wow_happens28
3 years ago
Looks like a market top for TJX by the chart. Recent trading has failed to close above August highs. Stores screaming for help yet salaries not keeping up with competitor pay? Is top management squeezing all the juice out of a lemon to make profits in 2021 look good and get nice bonuses, yet on the edge of a cliff?? Short handed stores can make profits look higher in the short run, but it can't go on forever. Shoplifting, made easier espically by government, almost encouragment it some states, damages and more all happen more in short handed stores. How will the next inventory go?
Good short sale? Looks obvious to me.
Thoughts or comments?
wow_happens28
6 years ago
conmix, 2 for one split, but I feel the chart looks toppy to me, lower highs. But it got 30% higher after I sold.>>>
https://stockcharts.com/h-sc/ui?s=TJX&p=D&yr=1&mn=0&dy=0&id=p3054081810c
TJX has not raised base pay in many areas and stores are short help. They raised a lot of money to brick and mortar Sierra Trading Posts, and it apparently bombed since no new ones in mt Minneapolis/St Paul area in over 2 years. So they have spent the money flooding HomeGoods, TJX and Marshalls with excess merchandise. So they really don't have vaid "Same store sales" comparisons. They have a new chain of like super HomeGoods just opening. That will take some of the "Over stock" money that the current stores are getting sales increases from. Who will Homesense(Super HomeGoods) hurt the most? My guess is Home Goods.
So, the combination of all the above
1. Squeezing shorthanded employees that will b had to do much longer, thus increased profit now.
2. Flooding stores with excess merchandise.
3. Increased markdowns, tied to point 2
3.Home Sense may hurt of sales of HomeGoods, and it may not stand the test of time like Sierra Trading Post that initially seemed good, but did not stand the test of time.
wow_happens28
7 years ago
$TJX Is doing something special with "healthy food"-Imagine mall stores the size of a GNC selling nothing but HomeGoods food. Healthy eating is in, candy stores are out. No charge for my idea TJX, love shopping your food.
Get funds by slowing Sierra Trading Post. Gander Mt just exited BK, Dicks stock fell 48% in 2017, Discount sporting goods are not new, i.e. Famous Footwear, outlet malls , And NOW online shopping is easy for sporting goods. Not a good move TJX, IMO.
Long live healthy food.
wow_happens28
7 years ago
Mixed feelings about the earnings. 3 to 4% is like the real rate of inflation, not the government figures, so same condition stores were a wash. But factor in reports of more merchandise being pumped in due to their billion dollar refinance and new money in 2016. Once they open more stores and don't have the excess cash, is it maintainable in a "tough economy"?
At any rate they remain a shining star in retail. If the stock falls here, It will be more from a pricey stock market falling than internal.
They are getting a great reputation from their food and have expanded "health food", like almond, hemp, and flax flour, many coconut oils, supplements, etc., especially at HomeGoods and combo stores. I hope they are aware of the explosive potential in this area. My investing in not focused on retail, more food companies and food commodities. Upon shopping at HomeGoods and talking with other customers I see huge potential. I would hope they do a good job at HomeSense with it, none in my area. Another shopper told me, too bad it is like Costco, "I buy something and can't find it the next time". I mentioned it is like a close out store to some degree and she knew that. 30% of all US households now have some "Organic" food in their homes and it is growing. "Gluten Free", "Paleo". "Keto", "Mediterranean", Turmeric" "Organic", "Sea Salt" and many buzzwords exist in the healthy eating trend that TJX is on to.. With the right marketing I feel they could triple their "healthy food" section in one year. And this would bring in even more "Hip" shoppers, than it already is.
30% of US homes with organic link>>>>>
http://www.organicauthority.com/organic-food-reaches-30-percent-of-households-new-report-shows/
wow_happens28
7 years ago
Q4 Wednesday. Look for margins down. Sources say they over ordered seasonal merchandise and had huge markdowns.
Also, beware of Sierra Trading Post. Possibly a major mistake. Sporting goods are suffering. Golf courses closing, ski slopes closing, etc. The internet gaming is cheaper than live sports. Gander Mountain just emerged from BK, Dicks stock down bigtime for 2017. Discount sporting goods are not new. Famous Footwear and outlet malls have been had discounting for years. Once the newness wears off?
New Super HomeGoods coming, Homesense. It will hurt HomeGoods more than anybody else, or shooting themselves in the foot?
They must be having labor problems since Walmart and Target raised starting pay to $11.00 from Trumps tax cut for businesses. TJX has announced nothing but sent stores cookies for thanks, OMG. Walmart and Target are competition for labor. TJX's margins may look good with less labor costs that could offset markdowns, but key employees should be leaving for more money?
A tough economy could be coming, I'd beware of TJX. It's had a fantastic run the past 10 years, good management for the times, stock up almost up 8 fold, time to take profits. I could be wrong, the stock is up with building volume the last 3 days. Insider leaks?
This is all opinion, been wrong before. The Q earnings may prove me an idiot?
ITMS
8 years ago
This Leading Retail Stock Will Soon Be In Play
One of the leading retail stocks that is starting to look attractive is The TJX Companies, Inc.(NYSE:TJX). This retail company operates stores under the T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, T.K. Maxx, and Sierra Trading Post names. The company also has an online presence with e-commerce sites such as tjmaxx.com, tkmaxx.com, and sierratradingpost.com.
The stock topped out on the daily chart on May 10, 2017 at $80.92 a share. Since that pivot top the stock has declined sharply lower. Today, TJX stock price is trading at $67.64 a share. Traders should now watch for the $62.70 level as the next major support area. This is a mathematical support level that should provide a significant bounce in the stock when tested. Keep this trade level on the radar as we wait for this leading retail stock to drop into my buy level. Please note, the company is expected to report earnings on August 15, 2017.
Nicholas Santiago
InTheMoneyStocks
MCArmel1
9 years ago
TJX beats by $0.01, beats on revenue
Nov 17 2015, 08:38 ET | About: TJX Companies Inc. (TJX) | By: Mohit Manghnani, SA News Editor
TJX (NYSE:TJX): Q3 EPS of $0.86 beats by $0.01.
Revenue of $7.75B (+5.2% Y/Y) beats by $20M.
Shares +5.5% PM.
Press Release
http://seekingalpha.com/news/2934766-tjx-beats-by-0_01-beats-on-revenue?uprof=45#email_link
The TJX Companies, Inc. Reports above-Plan Q3 FY16 Results with 5% Comp Sales Growth and Earnings Per Share of $.86
1 comment | Tue November 17, 2015 8:35 AM|Business Wire | About: TJX
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- The TJX Companies, Inc. (NYSE (NYX): TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today announced sales and earnings results for the third quarter ended October 31, 2015. Net sales for the third quarter of Fiscal 2016 increased 5% to $7.8 billion and consolidated comparable store sales increased 5% over last years 2% increase. Net income for the third quarter was $587 million and diluted earnings per share were $.86 versus last years $.85.
For the first nine months of Fiscal 2016, net sales were $22.0 billion, a 6% increase over last year, and consolidated comparable store sales increased 5%. Net income for the first nine months of Fiscal 2016 was $1.6 billion. Diluted earnings per share were $2.35, a 5% increase over the prior years adjusted $2.23, which excluded a $.01 per share debt extinguishment charge from reported earnings per share of $2.22.
Carol Meyrowitz, Chairman and Chief Executive Officer of The TJX Companies, Inc., stated, I am extremely pleased with our third quarter performance as our momentum continued. Our 5% consolidated comparable store sales growth, over a 2% increase last year, continued our excellent trend from the first two quarters and significantly exceeded our plans. Our $.86 in earnings per share was also well above our expectations. We are delighted that strong customer traffic drove our entire consolidated comp and was the primary driver of our comp increases at every division. Our excellent traffic gains and strong performance across our apparel, accessories and home categories, demonstrate that our brands globally are offering the right values and merchandise mix. Again this quarter, we saw strong sales at every division. I am particularly pleased with our ability to simultaneously deliver exceptional value to consumers while maintaining strong merchandise margins, which speaks to the flexibility of our off-price business model. Our goal is to keep serving consumers and growing our market share around the world. To that end, we continue to balance growth with investments in our future to establish a strong foundation in the U.S. and internationally. Further, we were happy to add Trade Secret, an Australian off-price retailer, to our family of companies in October. As to the fourth quarter, we are pleased to see that traffic continues to be up and we could not be more excited about the holiday selling season. I am convinced that our gift-giving selections are better than ever this year and that our holiday marketing campaigns will resonate with consumers and attract more shoppers to our stores. With our clear vision for global growth, a differentiated apparel and home fashions business, and world-class organization, I am very confident we will grow TJX to a $40 billion-plus company!
Sales by Business Segment
The Companys comparable store sales and net sales by division, in the third quarter, were as follows:
More...
http://seekingalpha.com/pr/15392886-the-tjx-companies-inc-reports-above-plan-q3-fy16-results-with-5-percent-comp-sales-growth-and-earnings-per-share-of-86