TJX · 10-Q · 2026Q3 · Full report

Supply Chain Tariff Impact

TJX COMPANIES INC /DE/ · 2026-08-28 · Importance 59 · Surprise 60 · Contradicted

TJX continues monitoring U.S. tariffs on imports from China and other countries, trade negotiations, retaliatory measures, judicial review, and alternative merchandise sources. In February 2026, the U.S. Supreme Court invalidated tariffs imposed under the International Emergency Economic Powers Act (IEEPA); TJX estimates it paid approximately $490 million in IEEPA-related tariffs. During the second quarter of fiscal 2027, TJX received $331 million of eligible IEEPA tariff refunds and recognized a $219 million net benefit after accruing $112 million for incentive compensation and discretionary bonuses. As of August 1, 2026, TJX had not recorded a receivable for additional potential refunds, which remain subject to legal, regulatory, and administrative developments.

Key facts

• During the second quarter of fiscal 2027, we have received $331 million of IEEPA related tariff refunds eligible under phases 1 and 2 of the CBP process, which includes an immaterial amount of interest. source
• We estimate we have paid an aggregate of approximately $490 million in IEEPA related tariffs. source
• The net benefit of tariff refunds was $219 million for the second quarter of fiscal 2027. source
• In February 2026, the U.S. Supreme Court issued a decision invalidating tariffs imposed under IEEPA. source
• TJX received $ million of IEEPA related tariff refunds during the second quarter of fiscal 2027 (amount presented as received and recognized within Cost of sales). source
• As of August 1, 2026, we have not recorded a receivable for any additional potential refunds. source
• The net benefit from tariff refunds resulted in a benefit of $0.14 on diluted earnings per share for the second quarter of fiscal 2027. source
• We monitor changes in tariffs and continue to implement and consider additional measures to mitigate the impact of tariffs. source

Impact estimates