TJX Is Turning Retail’s Trash Into Its Treasure, and Shoppers Can’t Get Enough
The bargain bin has never looked so luxurious. TJX Companies, the parent of TJ Maxx and Marshalls, has quietly become the fourth-largest brick-and-mortar retailer in the US by market cap — behind only Walmart, Costco, and Home Depot. As cost-of-living pressures push shoppers away from traditional department stores, TJX is reaping the benefits.
- The company generated $60B in revenue and $5.5B in net profit in 2025, while expanding its global store base by adding 44% more locations over the past decade.
- TJX’s buyers source surplus inventory from 21K+ brands, securing discounts reportedly as deep as 90–95% off retail, then selling to shoppers at 20–60% below full price.
The treasure hunt continues: As TJX constantly rotates inventory, it creates scarcity that keeps shoppers coming back. With Saks Global’s bankruptcy set to release more premium surplus goods, CEO Ernie Herrman told analysts that a higher-quality supply was “off the charts.” Critics say much of TJX’s inventory is actually produced for off-price retailers — giving brands what retail analyst Bryan Gildenberg calls “plausible deniability.” In off-price retail, the thrill of the find is the business model.
