Stock Analysis on Net

TJX Cos. Inc. (NYSE:TJX)

$24.99

Analysis of Inventory

Microsoft Excel

Inventory Disclosure

TJX Cos. Inc., balance sheet: inventory

US$ in millions

Microsoft Excel
Feb 1, 2025 Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020
Merchandise inventories

Based on: 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01).


The financial data reveals a pattern of fluctuations in merchandise inventories over the analyzed periods. Initially, a decrease is evidenced from February 1, 2020, through January 30, 2021, followed by a notable increase in the subsequent years.

Inventory Level Trends
The merchandise inventories decreased from 4,873 million USD in early 2020 to 4,337 million USD in early 2021, representing a contraction of approximately 11%. This decline may indicate measures to reduce stock or a decrease in supply or demand during that period.
From 2021 onward, inventories increased steadily, reaching 5,962 million USD in early 2022, slightly decreasing to 5,819 million USD in early 2023, and then rising again to 5,965 million USD in early 2024. The latest data for early 2025 shows a further increase to 6,421 million USD, marking the highest inventory level in the data set.
The growth in inventory levels from 2021 to 2025 indicates either an expansion in operations, anticipation of higher sales volumes, or adjustments in inventory management strategies to ensure product availability.
The slight dip observed between 2022 and 2023 could reflect a short-term correction or response to market conditions, followed by renewed inventory accumulation.