What The TJX Companies, Inc. told the SEC could break it.

TJX is exposed to tariffs on imports from China and other countries, which have driven significant global-economy volatility; on February 20, 2026 the U.S. Supreme Court invalidated IEEPA-based tariffs, which may allow recovery of previously paid amounts but leaves timing/administration uncertain.

“On February 20, 2026, the U.S. Supreme Court issued a decision invalidating tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”). This ruling may allow for the recovery of IEEPA tariff amounts previously paid. The ruling leaves uncertainties regarding the timing and administration of any potential IEEPA tariff refunds by the U.S. government”

TJX has a significant retail presence in several European countries, Canada and Australia, plus buying offices abroad; a hypothetical 10% FX move would impact fiscal 2026 pre-tax income by approximately $132 million, and further international expansion adds new-country risk.

“The analysis indicated a potential impact of approximately $132 million on our pre-tax income in fiscal 2026 and approximately $112 million in fiscal 2025.”

TJX relies on its vendors to provide quality merchandise complying with applicable laws and its vendor code of conduct; its vendors have not always complied, exposing it to legal and reputational risk amid frequently changing product regulations.

“We rely on our vendors to provide quality merchandise that complies with applicable laws and regulations and our vendor code of conduct. However, our vendors have not always complied with such obligations.”