Popular TJMaxx rival stumbles as customer trends shift

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• Wages only increased by 2% and 1%, respectively, for middle- and lower-income workers, trailing inflation

  80% confidence

• Furniture and furnishings prices are running 6.54% higher than they would be absent tariffs this year

  80% confidence

• Our comp trend then picked up to mid-single-digits in mid-October once the weather cooled, and that strong trend has continued through the first three weeks of November

  80% confidence

• Clothing prices are 8.9% higher this year than they would be without tariffs

  80% confidence

• Over 98% of clothing sold in the U.S. is imported from abroad. U.S. fashion apparel companies are likely to be among the hardest hit by the tariff increase, particularly since Mexico and China are two of the leading apparel-sourcing destinations for the country

  80% confidence

• We are very pleased with our new store opening program and performance, our weather-adjusted comp growth, and the rapid progress we are making in expanding our margin. As discussed previously, we expect our operating income to grow to approximately $1.6B by 2028

  80% confidence