The thing about T.J. Maxx is, you never know what you will find.

Rae Dunn mugs? Calvin Klein jumpsuit? Kate Spade handbag? Gummy worms or coffee pods?

It’s all there.

But as more and more big box brands like Walmart and Target report lagging sales and are even closing locations, what is the secret of T.J. Maxx’s appeal? Does digging for discounted designer merchandise still work?

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Yes, according to the company’s latest quarterly report.

The strength and flexibility of our off-price business model, depth of our organization’s expertise, and our wide demographic reach all give me great confidence in our ability to continue to succeed in today’s retail environment,” noted Ernie Herrman, CEO and president of TJX, the parent company of T.J. Maxx, Marshalls, Homegoods, Homesense, Sierra and Winners. “Every day, our global organization is focused on bringing customers around the world excellent values on great fashions and great brands and an exciting, treasure-hunt shopping experience. We are pleased that the second quarter is off to a good start, and we are seeing phenomenal off-price buying opportunities in the marketplace.

“We are set up extremely well to continue shipping fresh and compelling merchandise to our stores and online throughout the spring and summer,” he added.

The company finished Q1 2023 with $11.8 billon in net sales, up 3% compared to the first quarter of the previous fiscal year. The company also experienced a 3% growth in overall comparable store sales. Net income for the first quarter of fiscal 2024 amounted to approximately $891 million.

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