TJX Companies says its Winners, Marshalls and HomeSense businesses are continuing to gain major market share in Canada, with customer transactions rising as the off-price retailer expands into prominent shopping centres and urban locations across the country.
TJX Canada comparable sales increased 6% in the second quarter of fiscal 2027, primarily driven by an increase in customer transactions. Adjusted segment profit margin on a constant-currency basis reached 16.3%, up 30 basis points from a year earlier.
“We are the leading off-price retailer in Canada and are very pleased with our strong brand awareness and loyal shopper base,” said John Klinger, Senior Executive Vice President and Chief Financial Officer of TJX Companies during this week’s earnings call. “We continue to see an opportunity to further grow across Canada with our three retail banners.”
The Canadian performance was among the strongest across TJX during the quarter. Company-wide comparable sales increased 4%, while the Marmaxx division, which includes TJ Maxx and Marshalls in the U.S., posted comparable sales growth of 1%. HomeGoods was up 7%, while TJX International increased 7%.
TJX President and CEO Ernie Herrman discussed Canada several times during the earnings call, describing it as one of the company’s strongest markets for share and pointing to further gains being made by Winners, Marshalls and HomeSense.
“In Canada, we over-index. That’s one of our largest market share geographies in the corporation,” Herrman said during the analyst discussion. “Now that you’ve had closures with The Bay, et cetera, the Canadian merchants are doing an amazing job in HomeSense and in Winners and in Marshalls in Canada.”
Herrman added that Canada does not always receive significant attention during TJX’s earnings discussions, but said the Canadian business continues to gain “major market share.” He compared the momentum in Canada with the strong performance of HomeGoods in the U.S., telling analysts, “Similar to what HomeGoods is doing here, Canada’s doing there.”
More Customers Shopping TJX Stores in Canada
The composition of TJX Canada’s 6% comparable sales increase is notable. Management said the gain was primarily driven by customer transactions, showing that increased purchasing activity at existing stores is contributing to the company’s growth.
TJX continues to position value at the centre of its strategy. Herrman said the company expects consumers to continue looking for value and believes its assortment of brands and fashions appeals to shoppers across a wide range of ages and incomes. TJX’s off-price buying model is supported by approximately 21,000 vendors globally, and management said merchandise availability remains exceptionally strong, with more product available in the marketplace than the company could purchase.
The strength in Canada follows continued expansion by Winners, Marshalls and HomeSense, including several prominent locations in major shopping centres and downtown retail districts.
Winners Moves Into Major Canadian Shopping Centres
In the Greater Toronto Area, Winners has recently established locations in several of the region’s most important shopping centres. The retailer opened at CF Toronto Eaton Centre in downtown Toronto in August 2024, giving the banner a prominent presence in Canada’s busiest shopping destination. Winners opened another large store at Scarborough Town Centre in August 2025, followed by a new location at Square One Shopping Centre in Mississauga in April 2026.
The Square One opening is particularly notable given the scale and regional importance of the shopping centre. Square One spans more than 2.2 million square feet and ranks among Canada’s most productive shopping centres, with sales of approximately $1,396 per square foot according to 2025 International Council of Shopping Centers data. The Square One Winners store spans about 35,000 square feet over two levels.
Winners and Marshalls have operated in enclosed Canadian shopping centres for years, but several recent openings have placed the banners in particularly prominent regional and downtown properties. TJX has also been building its presence in major urban shopping districts, including Vancouver and Montreal.
In Vancouver, Winners relocated in October 2024 from its longtime location at Robson and Granville streets to a larger space farther north on Granville Street. Marshalls subsequently opened in the former Winners space in March 2025, allowing TJX to operate both banners along the downtown retail corridor.
In Montreal, Marshalls is expected to open at Montreal Eaton Centre in September 2026, occupying approximately 32,500 square feet on the Metro level. Winners already operates across the street at Place Montréal Trust, as well as at Complexe Desjardins elsewhere in the downtown core.
The expansion comes as TJX says it is becoming more flexible with its real estate. Management told analysts that smaller store formats are creating opportunities in densely populated urban markets, while its planning, allocation and real estate teams have become more flexible in determining where stores can operate.
Hudson’s Bay Closures Change the Competitive Landscape
Herrman’s reference to Hudson’s Bay comes amid a significant reshaping of Canada’s department store sector. Hudson’s Bay closed its remaining stores in June 2025, removing a national retailer that had occupied large spaces in many of the country’s leading shopping centres and competed across apparel, accessories, beauty and home merchandise.
Winners, Marshalls and HomeSense compete in several of the categories historically sold by Hudson’s Bay, while TJX has continued adding stores in major Canadian shopping markets. The company’s ability to operate multiple banners in different store sizes also gives it a range of options as landlords lease and reconfigure retail space.
TJX’s Canadian results show the company gaining share as that competitive landscape changes. Herrman’s comments on the call provided a rare direct acknowledgement from the company of Hudson’s Bay’s departure while discussing TJX Canada’s performance.
TJX Sees More Room to Grow in Canada
TJX operates close to 600 stores in Canada across Winners, Marshalls and HomeSense, making the country one of the company’s largest markets outside the United States. Winners remains the largest of the three Canadian banners, while HomeSense and Marshalls have continued to expand their footprints.
Management did not provide a new Canadian store target during the earnings call, but was explicit that it sees further growth potential for all three banners.
That growth comes as TJX accelerates its store strategy globally. The company increased its long-term store potential by 500 locations to approximately 7,500 stores across its existing banners and countries, representing more than 2,200 additional stores compared with its current footprint. TJX also plans to increase its annual store growth rate from approximately 3% to 4% beginning next year.
The additional 500 stores in the revised long-term target relate specifically to greater potential for TJ Maxx and Marshalls within the Marmaxx division and for the HomeGoods division, and were not attributed specifically to Canada. Management did, however, indicate that opportunities for faster store growth exist across the business.
“When we look at where we see the opportunities, we see it across every single brand that we have,” Klinger said.
Herrman added that the additional percentage point of annual store growth is expected “across the board,” rather than being driven by only one or two divisions.
Home Categories Remain Strong
Home merchandise is also performing well across TJX. The company said its home categories outperformed apparel during the second quarter, while HomeGoods comparable sales in the U.S. increased 7%, driven primarily by a higher average basket, with customer transactions also increasing.
Herrman said strength is extending across consumable products, decorative merchandise and higher-ticket categories such as lighting and wall décor. He also pointed to collaboration among TJX’s home merchants across its international operations, again highlighting Canada and comparing the market-share gains being achieved by Winners, Marshalls and HomeSense with the momentum at HomeGoods in the U.S.
TJX’s latest results add to the evidence of a strong Canadian business at a time of considerable change in the country’s retail landscape. Customer transactions are increasing, the company is securing prominent locations, and management continues to see room to grow all three of its Canadian banners.
