To our Associates, Customers, Neighbors, Vendors, and Shareholders:

Value. This is core to TJX. It drives our business mission to deliver great value to our customers every day. It also drives the many corporate responsibility initiatives we have launched over the years, including how we value and support our Associates and the communities where we operate, mitigate our impact on the environment, and operate our business responsibly.

We’ve formally reported on our corporate responsibility efforts now for nearly 15 years. We firmly believe that our continued commitment to this work is important as we move forward. Part of our approach to corporate responsibility is to build on prior efforts, evolving over time and remaining flexible to reflect varying expectations and changes happening in the world. In the pages that follow, we have outlined many details about our ongoing programs, reported under four pillars: workplace, communities, environmental sustainability, and responsible sourcing.

Valuing Our Associates

Inclusion and diversity have been an important part of who we are for many years, and we continue to make progress on our journey of fostering a culture where all of our Associates feel welcome, valued, and engaged. Our efforts are guided by three global inclusion and diversity priorities, developed, in part, based on Associate feedback from our 2021 Global Inclusion Survey. Earlier this year, we completed our second Global Inclusion Survey to serve as a pulse-check on our work.

Our Associate Resource Groups (ARGs) and our inclusion and diversity committees support an inclusive workplace, helping to align our programming with the needs of our Associates. In various regions where we operate, we’ve continued to increase the number of ARGs Associates can choose to participate in, and over the last year, we were pleased to see Associate participation grow.

Valuing Our Communities

In our communities, we are proud to have supported over 2,000 non-profit organizations globally in 2023, covering a variety of important causes such as education, food insecurity, and medical care.

Our Associates across the globe have enthusiastically supported this work, running fundraising campaigns in our stores, participating in our Associate Nominated Grants program, helping build homes for those in need, serving as career coaches for students, and more. We are also very grateful to our customers, who have provided generous donations during our in-store fundraising campaigns throughout the year.

Valuing Our Environment

We are continuing to work towards our global environmental sustainability goals that aim to achieve net zero greenhouse gas emissions in our own operations, source more renewable energy, improve our abilities to keep operational waste out of the landfill, and find opportunities to reduce the environmental impact of certain products and packaging.

These goals build on the work we’ve been doing for many years to pursue initiatives that are environmentally responsible and smart for our business, and we are proud of the progress we’re making in this area.

Valuing Ethical Operations

We are serious about operating our business responsibly. We hold ourselves to high ethical standards and expect the same of our vendors. Our Global Social Compliance Program aims to convey and reinforce our expectations of respect for the human rights of the workers in our supply chain. At the center of this Program is our Vendor Code of Conduct, which sets those expectations. We also regularly monitor a portion of our merchandise supply chain through our factory auditing program. In 2023, we audited, or received audit reports from, more than 3,100 factories in approximately 30 countries.

Although it’s impossible to cover all of our achievements and efforts in a brief letter, I hope these few examples inspire you to read our full Global Corporate Responsibility Report to learn more about how we are approaching this work.

Importantly, I want to thank our Associates around the globe. With their hard work, commitment, and dedication to these programs, we continue to see progress on our journey.

I'm proud of what we've accomplished, and I look forward to the road ahead.

Ernie Herrman
Chief Executive Officer and President
The TJX Companies, Inc.

October 2024