Are TJX's cost controls effective this fiscal year?

**TJX's cost controls have been effective this fiscal year**, as evidenced by several key metrics that indicate the company's strong financial management. Here are the points to consider:

1. **Pre-Tax Profit Margin Increase**: TJX has achieved a pre-tax profit margin of 12.3% in the fiscal third quarter, marking a 30-basis-point increase from the previous year. This improvement demonstrates the company's effective cost control measures.
2. **Gross Margin Expansion**: The company has also seen a 50-basis-point expansion in the gross margin due to higher merchandise margins. This indicates that TJX is not only controlling costs but also improving profitability through better pricing and inventory management.
3. **Timing of Specific Expenses**: The timing of specific expenses has played a role in TJX's cost control efforts, contributing to the increase in pre-tax profit margin. This suggests that the company has strategically managed its spending to align with revenue growth.
4. **Cost-Saving Measures**: In addition to the timing of expenses, TJX has implemented cost-saving measures that have helped enhance profitability. These measures, coupled with effective cost control, have been crucial in fueling the company's stock performance and sustaining growth.

In conclusion, TJX's cost controls have been highly effective this fiscal year, as reflected in the company's financial metrics and strategic management practices. The company's focus on cost-saving measures and effective expense timing has significantly contributed to its profitability and overall business efficiency.