Hey there. First off, sorry for the late reply on the Discord and here.
Overall, I like TJX. It is a very efficient cash flow generator. It doesn't have very much exposure here in Canada outside of Winners, but in reality exposure to the US economy is better regardless.
The company continually puts up high returns on capital and equity which is something I really like as well. Gross margins are a tad low, at 30%~, but this company's main strategy is to offer similar clothing lines to consumers for more attractive prices, selling in volume rather than higher margins.
It's a buyback machine as well, the company has reduced its share count by 36%~ over the last decade.
As more and more consumers are pinching pennies, I could see this one doing well. Analysts are forecasting double digit growth over the next year here before witnessing a bit of a slowdown.
I guess my only concern would be valuation. It's far from cheap, trading at 22x expected earnings. I'd say it's fully valued here.
