Is TJX's International segment outperforming recently?

**TJX's International segment has shown resilience but is currently underperforming compared to the U.S. segments.** Here's a detailed analysis: 1. **Performance in Fiscal Q4 2025**: - The International segment reported net sales of $2,078 million, reflecting a 1% decrease year-over-year. - This decline is in contrast to the U.S. segments, where HomeGoods saw a 2% year-over-year increase in net sales, amounting to $2,851 million, and Marmaxx reported a 4% rise, with net sales reaching $9,971 million. 2. **Comparable Store Sales Growth**: - TJX International experienced a 7% increase in comparable store sales, which is notable but lower than the 10% growth seen at Marmaxx and the 5% rise at HomeGoods. 3. **Profitability**: - The segment's performance was partly offset by higher profitability, with a pretax profit margin of 11.6%, an increase of 0.4 percentage points from the previous year. - However, this margin is lower than the 11.9% reported by the Marmaxx division and the 12.3% achieved by HomeGoods. 4. **Currency Impact**: - The company anticipated that unfavorable foreign currency exchange rates could negatively impact the segment's profitability by approximately 0.2 percentage points. 5. **Strategic Initiatives**: - TJX has been actively expanding its international footprint, with plans to open new stores in key markets. - The company's off-price model and treasure-hunt shopping experience are expected to drive long-term success across all segments, including International. In conclusion, while TJX's International segment has demonstrated growth in comparable store sales and profitability, it has not yet reached the same level of performance as the U.S. segments, particularly HomeGoods and Marmaxx. The segment's performance is influenced by external factors such as currency fluctuations, and its future outlook is closely tied to strategic expansions and adaptations to local market conditions.