# Apparel Retail — company-by-company sector analysis

> Apparel Retail: The TJX Companies, Inc. owns the largest revenue base; Rent the Runway, Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice.

## Bottom line

Apparel Retail has outperformed S&P 500 by 20.7% over 52 weeks and 9% over 13 weeks. 12 of 25 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 25 beat the sector itself. The TJX Companies, Inc. leads with revenue of $61,584 million, based on 23 of 25 comparable companies through Jun 2026.

## Sector relative strength

Apparel Retail has outperformed S&P 500 by 20.7% over the last 52 weeks. Over 13 weeks the gap is a lead of 9%. 12 of 25 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Victoria's Secret & Co. is the strongest against the sector itself at +48.2%.

13-week sector return versus NIFTY 500: 9.0%
52-week sector return versus NIFTY 500: 21%
Stocks leading NIFTY: 12/25
Stocks leading sector: 10/25

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 25
Combined market value: ₹3.3 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Victoria's Secret & Co. (VSXY): 66/100 — Favorable setup; evidence 81%
   - Growth & earnings 25.3/35 | Capital efficiency 9.3/25 | Valuation 11.2/20 | Relative strength 20.0/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks
   - Exact sum: 25.3 + 9.3 + 11.2 + 20 = 65.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Ross Stores, Inc. (ROST): 58/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 22.4/35 | Capital efficiency 17.0/25 | Valuation 5.7/20 | Relative strength 12.9/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks
   - Exact sum: 22.4 + 17 + 5.7 + 12.9 = 58
   - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
3. Citi Trends, Inc. (CTRN): 56/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 22.4/35 | Capital efficiency 8.9/25 | Valuation 8.9/20 | Relative strength 16.2/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks
   - Exact sum: 22.4 + 8.9 + 8.9 + 16.2 = 56.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. Burlington Stores, Inc. (BURL): 56/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 20.1/35 | Capital efficiency 11.8/25 | Valuation 8.3/20 | Relative strength 15.3/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks
   - Exact sum: 20.1 + 11.8 + 8.3 + 15.3 = 55.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. The Buckle, Inc. (BKE): 55/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 23.4/35 | Capital efficiency 17.1/25 | Valuation 13.2/20 | Relative strength 1.5/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 23.4 + 17.1 + 13.2 + 1.5 = 55.2
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -27.1% and the one-year return is -13.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
6. Abercrombie & Fitch Co. (ANF): 55/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 12.2/35 | Capital efficiency 11.9/25 | Valuation 16.0/20 | Relative strength 15.1/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks
   - Exact sum: 12.2 + 11.9 + 16 + 15.1 = 55.2
   - Decision use: Price leads the evidence: RS versus the benchmark is 8.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
7. The TJX Companies, Inc. (TJX): 55/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 22.8/35 | Capital efficiency 16.4/25 | Valuation 10.1/20 | Relative strength 5.3/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 22.8 + 16.4 + 10.1 + 5.3 = 54.6
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -13% and the one-year return is 19.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
8. Tilly's, Inc. (TLYS): 51/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 21.3/35 | Capital efficiency 4.5/25 | Valuation 9.7/20 | Relative strength 15.9/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks
   - Exact sum: 21.3 + 4.5 + 9.7 + 15.9 = 51.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9. Urban Outfitters, Inc. (URBN): 51/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 17.2/35 | Capital efficiency 13.5/25 | Valuation 10.5/20 | Relative strength 9.5/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks
   - Exact sum: 17.2 + 13.5 + 10.5 + 9.5 = 50.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10. Genesco Inc. (GCO): 50/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 18.6/35 | Capital efficiency 6.7/25 | Valuation 9.9/20 | Relative strength 14.7/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks
   - Exact sum: 18.6 + 6.7 + 9.9 + 14.7 = 49.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11. The Gap, Inc. (GAP): 49/100 — Mixed-negative evidence; evidence 81%
   - Growth & earnings 19.9/35 | Capital efficiency 13.7/25 | Valuation 14.2/20 | Relative strength 1.5/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 19.9 + 13.7 + 14.2 + 1.5 = 49.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12. Boot Barn Holdings, Inc. (BOOT): 46/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 16.7/35 | Capital efficiency 14.7/25 | Valuation 9.8/20 | Relative strength 4.7/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 16.7 + 14.7 + 9.8 + 4.7 = 45.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13. Caleres, Inc. (CAL): 44/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 15.3/35 | Capital efficiency 10.1/25 | Valuation 10.1/20 | Relative strength 8.9/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of the last 12 weeks
   - Exact sum: 15.3 + 10.1 + 10.1 + 8.9 = 44.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14. American Eagle Outfitters, Inc. (AEO): 44/100 — Mixed-negative evidence; evidence 74%
   - Growth & earnings 24.4/35 | Capital efficiency 9.5/25 | Valuation 5.7/20 | Relative strength 4.6/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 24.4 + 9.5 + 5.7 + 4.6 = 44.2
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -20.1% and the one-year return is 45.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
15. Duluth Holdings Inc. (DLTH): 44/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 14.7/35 | Capital efficiency 4.9/25 | Valuation 8.6/20 | Relative strength 15.5/20
   - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 14.7 + 4.9 + 8.6 + 15.5 = 43.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
16. lululemon athletica inc. (LULU): 43/100 — Mixed-negative evidence; evidence 81%
   - Growth & earnings 9.2/35 | Capital efficiency 14.3/25 | Valuation 14.5/20 | Relative strength 5.0/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 9.2 + 14.3 + 14.5 + 5 = 43
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
17. J.Jill, Inc. (JILL): 42/100 — Mixed-negative evidence; evidence 75%
   - Growth & earnings 7.2/35 | Capital efficiency 11.8/25 | Valuation 8.8/20 | Relative strength 14.2/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 6 of the last 12 weeks
   - Exact sum: 7.2 + 11.8 + 8.8 + 14.2 = 42
   - Decision use: Price leads the evidence: RS versus the benchmark is 12.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
18. Torrid Holdings Inc. (CURV): 41/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 5.1/35 | Capital efficiency 10.5/25 | Valuation 8.8/20 | Relative strength 16.6/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks
   - Exact sum: 5.1 + 10.5 + 8.8 + 16.6 = 41
   - Decision use: Price leads the evidence: RS versus the benchmark is 49%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
19. Stitch Fix, Inc. (SFIX): 40/100 — Thin evidence · provisional; evidence 55%
   - Growth & earnings 17.9/35 | Capital efficiency 5.4/25 | Valuation 10.0/20 | Relative strength 6.4/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks
   - Exact sum: 17.9 + 5.4 + 10 + 6.4 = 39.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20. Zumiez Inc. (ZUMZ): 37/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 17.9/35 | Capital efficiency 4.9/25 | Valuation 9.4/20 | Relative strength 4.9/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 17.9 + 4.9 + 9.4 + 4.9 = 37.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
21. Rent the Runway, Inc. (RENT): 36/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 18.6/35 | Capital efficiency 3.1/25 | Valuation 11.5/20 | Relative strength 3.0/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 18.6 + 3.1 + 11.5 + 3 = 36.2
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22. Shoe Station Group Inc. (SHOE): 31/100 — Adverse evidence; evidence 65%
   - Growth & earnings 7.7/35 | Capital efficiency 9.0/25 | Valuation 10.2/20 | Relative strength 3.8/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 7.7 + 9 + 10.2 + 3.8 = 30.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23. Lands' End, Inc. (LE): 28/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 7.6/35 | Capital efficiency 3.7/25 | Valuation 11.4/20 | Relative strength 5.3/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 7.6 + 3.7 + 11.4 + 5.3 = 28
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
24. Carter's, Inc. (CRI): 58/100 — Thin evidence · provisional; evidence 50%
   - Growth & earnings 22.9/35 | Capital efficiency 13.3/25 | Valuation 11.2/20 | Relative strength 10.4/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of the last 12 weeks
   - Exact sum: 22.9 + 13.3 + 11.2 + 10.4 = 57.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
25. a.k.a. Brands Holding Corp. (AKA): 38/100 — Thin evidence · provisional; evidence 45%
   - Growth & earnings 15.5/35 | Capital efficiency 7.5/25 | Valuation 8.5/20 | Relative strength 6.8/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 15.5 + 7.5 + 8.5 + 6.8 = 38.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

Victoria's Secret & Co. has the strongest one-year price move in Apparel Retail at +322.4%. It also leads on Mansfield relative strength against the S&P 500 at +56.9%. 12 of 25 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

### Strongest one-year price performers
1. Victoria's Secret & Co. (VSXY): 322%
2. Tilly's, Inc. (TLYS): 208%
3. Citi Trends, Inc. (CTRN): 130%
4. Duluth Holdings Inc. (DLTH): 83%
5. Ross Stores, Inc. (ROST): 73%

### Strongest relative strength versus NIFTY 500
1. Victoria's Secret & Co. (VSXY): 57%
2. Torrid Holdings Inc. (CURV): 49%
3. Citi Trends, Inc. (CTRN): 46%
4. Tilly's, Inc. (TLYS): 41%
5. Duluth Holdings Inc. (DLTH): 21%

## Revenue Scale & Growth Durability

What the numbers say: The TJX Companies, Inc. is the scale leader at $61,584 million, 159% ahead of Ross Stores, Inc.. Rent the Runway, Inc.'s growth is 16.6% from a $351 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: The TJX Companies, Inc. is the scale benchmark; Rent the Runway, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: The TJX Companies, Inc.'s growth falls below Rent the Runway, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: The TJX Companies, Inc. · $61,584 million | 159% versus #2 · Ross Stores, Inc. | 7/8 recent comparable periods | 23/25 companies · 469 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. The TJX Companies, Inc. (TJX): ₹61.6K Cr
2. Ross Stores, Inc. (ROST): ₹23.8K Cr
3. The Gap, Inc. (GAP): ₹15.4K Cr
4. Burlington Stores, Inc. (BURL): ₹11.9K Cr
5. lululemon athletica inc. (LULU): ₹11.2K Cr

### Revenue growth — fastest growers
1. Rent the Runway, Inc. (RENT): 17%
2. Ross Stores, Inc. (ROST): 12%
3. Urban Outfitters, Inc. (URBN): 11%
4. Burlington Stores, Inc. (BURL): 11%
5. Citi Trends, Inc. (CTRN): 10%

### 20-quarter Revenue history
- TJX: Dec 2021 ₹12.5K Cr | Mar 2022 ₹13.9K Cr | Jun 2022 ₹11.4K Cr | Sep 2022 ₹11.8K Cr | Dec 2022 ₹12.2K Cr | Mar 2023 ₹14.5K Cr | Jun 2023 ₹11.8K Cr | Sep 2023 ₹12.8K Cr | Dec 2023 ₹13.3K Cr | Mar 2024 ₹16.4K Cr | Jun 2024 ₹12.5K Cr | Sep 2024 ₹13.5K Cr | Dec 2024 ₹14.1K Cr | Mar 2025 ₹16.4K Cr | Jun 2025 ₹13.1K Cr | Sep 2025 ₹14.4K Cr | Dec 2025 ₹15.1K Cr | Mar 2026 ₹17.7K Cr | Jun 2026 ₹14.3K Cr | Sep 2026 —
- ROST: Dec 2021 ₹4.6K Cr | Mar 2022 ₹5.0K Cr | Jun 2022 ₹4.3K Cr | Sep 2022 ₹4.6K Cr | Dec 2022 ₹4.6K Cr | Mar 2023 ₹5.2K Cr | Jun 2023 ₹4.5K Cr | Sep 2023 ₹4.9K Cr | Dec 2023 ₹4.9K Cr | Mar 2024 ₹6.0K Cr | Jun 2024 ₹4.9K Cr | Sep 2024 ₹5.3K Cr | Dec 2024 ₹5.1K Cr | Mar 2025 ₹5.9K Cr | Jun 2025 ₹5.0K Cr | Sep 2025 ₹5.5K Cr | Dec 2025 ₹5.6K Cr | Mar 2026 ₹6.6K Cr | Jun 2026 ₹6.0K Cr | Sep 2026 —
- BURL: Dec 2021 ₹2.3K Cr | Mar 2022 ₹2.6K Cr | Jun 2022 ₹1.9K Cr | Sep 2022 ₹2.0K Cr | Dec 2022 ₹2.0K Cr | Mar 2023 ₹2.7K Cr | Jun 2023 ₹2.1K Cr | Sep 2023 ₹2.2K Cr | Dec 2023 ₹2.3K Cr | Mar 2024 ₹3.1K Cr | Jun 2024 ₹2.4K Cr | Sep 2024 ₹2.5K Cr | Dec 2024 ₹2.5K Cr | Mar 2025 ₹3.3K Cr | Jun 2025 ₹2.5K Cr | Sep 2025 ₹2.7K Cr | Dec 2025 ₹2.7K Cr | Mar 2026 ₹3.6K Cr | Jun 2026 ₹2.9K Cr | Sep 2026 —
- LULU: Dec 2021 ₹1.5K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹2.8K Cr | Jun 2023 ₹2.0K Cr | Sep 2023 ₹2.2K Cr | Dec 2023 ₹2.2K Cr | Mar 2024 ₹3.2K Cr | Jun 2024 ₹2.2K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹2.4K Cr | Mar 2025 ₹3.6K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 ₹2.5K Cr | Dec 2025 ₹2.6K Cr | Mar 2026 ₹3.6K Cr | Jun 2026 ₹2.5K Cr | Sep 2026 —
- GAP: Dec 2021 ₹3.9K Cr | Mar 2022 ₹4.5K Cr | Jun 2022 ₹3.5K Cr | Sep 2022 ₹3.9K Cr | Dec 2022 ₹4.0K Cr | Mar 2023 ₹4.2K Cr | Jun 2023 ₹3.3K Cr | Sep 2023 ₹3.5K Cr | Dec 2023 ₹3.8K Cr | Mar 2024 ₹4.3K Cr | Jun 2024 ₹3.4K Cr | Sep 2024 ₹3.7K Cr | Dec 2024 ₹3.8K Cr | Mar 2025 ₹4.1K Cr | Jun 2025 ₹3.5K Cr | Sep 2025 ₹3.7K Cr | Dec 2025 ₹3.9K Cr | Mar 2026 ₹4.2K Cr | Jun 2026 ₹3.5K Cr | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 ₹2.2K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹2.1K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹2.3K Cr | Jun 2026 ₹1.6K Cr | Sep 2026 —
- URBN: Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹1.5K Cr | Sep 2026 —
- BOOT: Dec 2021 ₹486 Cr | Mar 2022 ₹383 Cr | Jun 2022 ₹366 Cr | Sep 2022 ₹352 Cr | Dec 2022 ₹515 Cr | Mar 2023 — | Jun 2023 ₹426 Cr | Sep 2023 ₹384 Cr | Dec 2023 ₹520 Cr | Mar 2024 ₹388 Cr | Jun 2024 ₹423 Cr | Sep 2024 ₹426 Cr | Dec 2024 ₹608 Cr | Mar 2025 ₹454 Cr | Jun 2025 ₹504 Cr | Sep 2025 ₹505 Cr | Dec 2025 ₹706 Cr | Mar 2026 ₹539 Cr | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 ₹905 Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹813 Cr | Sep 2022 ₹805 Cr | Dec 2022 ₹880 Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹836 Cr | Sep 2023 ₹935 Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.3K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 ₹1.1K Cr | Sep 2026 —
- AEO: Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹1.2K Cr | Sep 2026 —
- BKE: Dec 2021 ₹319 Cr | Mar 2022 ₹381 Cr | Jun 2022 ₹309 Cr | Sep 2022 ₹302 Cr | Dec 2022 ₹332 Cr | Mar 2023 ₹402 Cr | Jun 2023 ₹283 Cr | Sep 2023 ₹292 Cr | Dec 2023 ₹303 Cr | Mar 2024 ₹382 Cr | Jun 2024 ₹262 Cr | Sep 2024 ₹282 Cr | Dec 2024 ₹294 Cr | Mar 2025 ₹379 Cr | Jun 2025 ₹272 Cr | Sep 2025 ₹306 Cr | Dec 2025 ₹321 Cr | Mar 2026 ₹399 Cr | Jun 2026 ₹289 Cr | Sep 2026 —
- CRI: Dec 2021 ₹891 Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹781 Cr | Sep 2022 ₹701 Cr | Dec 2022 ₹819 Cr | Mar 2023 — | Jun 2023 ₹696 Cr | Sep 2023 ₹600 Cr | Dec 2023 ₹858 Cr | Mar 2024 ₹661 Cr | Jun 2024 ₹564 Cr | Sep 2024 ₹758 Cr | Dec 2024 ₹860 Cr | Mar 2025 ₹630 Cr | Jun 2025 ₹585 Cr | Sep 2025 ₹758 Cr | Dec 2025 — | Mar 2026 ₹925 Cr | Jun 2026 ₹681 Cr | Sep 2026 —
- CTRN: Dec 2021 ₹228 Cr | Mar 2022 ₹241 Cr | Jun 2022 ₹208 Cr | Sep 2022 ₹185 Cr | Dec 2022 ₹192 Cr | Mar 2023 ₹209 Cr | Jun 2023 ₹180 Cr | Sep 2023 ₹174 Cr | Dec 2023 ₹180 Cr | Mar 2024 ₹215 Cr | Jun 2024 ₹186 Cr | Sep 2024 ₹177 Cr | Dec 2024 ₹179 Cr | Mar 2025 ₹211 Cr | Jun 2025 ₹202 Cr | Sep 2025 ₹191 Cr | Dec 2025 ₹197 Cr | Mar 2026 ₹230 Cr | Jun 2026 ₹231 Cr | Sep 2026 —
- SFIX: Dec 2021 ₹581 Cr | Mar 2022 ₹517 Cr | Jun 2022 ₹493 Cr | Sep 2022 ₹427 Cr | Dec 2022 ₹444 Cr | Mar 2023 ₹401 Cr | Jun 2023 ₹383 Cr | Sep 2023 ₹365 Cr | Dec 2023 ₹365 Cr | Mar 2024 ₹330 Cr | Jun 2024 ₹323 Cr | Sep 2024 ₹320 Cr | Dec 2024 ₹319 Cr | Mar 2025 ₹312 Cr | Jun 2025 ₹325 Cr | Sep 2025 ₹311 Cr | Dec 2025 ₹342 Cr | Mar 2026 ₹341 Cr | Jun 2026 ₹340 Cr | Sep 2026 —
- CAL: Dec 2021 ₹784 Cr | Mar 2022 ₹679 Cr | Jun 2022 ₹735 Cr | Sep 2022 ₹738 Cr | Dec 2022 ₹798 Cr | Mar 2023 ₹696 Cr | Jun 2023 ₹663 Cr | Sep 2023 ₹696 Cr | Dec 2023 ₹762 Cr | Mar 2024 ₹697 Cr | Jun 2024 ₹659 Cr | Sep 2024 ₹683 Cr | Dec 2024 ₹741 Cr | Mar 2025 ₹639 Cr | Jun 2025 ₹614 Cr | Sep 2025 ₹659 Cr | Dec 2025 ₹790 Cr | Mar 2026 ₹695 Cr | Jun 2026 ₹667 Cr | Sep 2026 —
- GCO: Dec 2021 ₹601 Cr | Mar 2022 ₹728 Cr | Jun 2022 ₹521 Cr | Sep 2022 ₹535 Cr | Dec 2022 ₹604 Cr | Mar 2023 ₹725 Cr | Jun 2023 ₹483 Cr | Sep 2023 ₹523 Cr | Dec 2023 ₹579 Cr | Mar 2024 ₹739 Cr | Jun 2024 ₹458 Cr | Sep 2024 ₹525 Cr | Dec 2024 ₹596 Cr | Mar 2025 ₹746 Cr | Jun 2025 ₹474 Cr | Sep 2025 ₹546 Cr | Dec 2025 ₹616 Cr | Mar 2026 ₹800 Cr | Jun 2026 ₹487 Cr | Sep 2026 —
- SHOE: Dec 2021 ₹356 Cr | Mar 2022 ₹313 Cr | Jun 2022 ₹318 Cr | Sep 2022 ₹312 Cr | Dec 2022 ₹342 Cr | Mar 2023 ₹291 Cr | Jun 2023 ₹281 Cr | Sep 2023 ₹295 Cr | Dec 2023 ₹320 Cr | Mar 2024 ₹280 Cr | Jun 2024 ₹300 Cr | Sep 2024 ₹333 Cr | Dec 2024 ₹307 Cr | Mar 2025 ₹263 Cr | Jun 2025 ₹278 Cr | Sep 2025 ₹306 Cr | Dec 2025 ₹297 Cr | Mar 2026 ₹254 Cr | Jun 2026 ₹271 Cr | Sep 2026 —
- LE: Dec 2021 ₹376 Cr | Mar 2022 ₹555 Cr | Jun 2022 ₹304 Cr | Sep 2022 ₹351 Cr | Dec 2022 ₹371 Cr | Mar 2023 ₹530 Cr | Jun 2023 ₹310 Cr | Sep 2023 ₹323 Cr | Dec 2023 ₹325 Cr | Mar 2024 ₹515 Cr | Jun 2024 ₹285 Cr | Sep 2024 ₹317 Cr | Dec 2024 ₹319 Cr | Mar 2025 ₹442 Cr | Jun 2025 ₹261 Cr | Sep 2025 ₹294 Cr | Dec 2025 ₹317 Cr | Mar 2026 ₹462 Cr | Jun 2026 ₹239 Cr | Sep 2026 —
- ZUMZ: Dec 2021 ₹289 Cr | Mar 2022 ₹347 Cr | Jun 2022 ₹221 Cr | Sep 2022 ₹220 Cr | Dec 2022 ₹238 Cr | Mar 2023 ₹280 Cr | Jun 2023 ₹183 Cr | Sep 2023 ₹194 Cr | Dec 2023 ₹216 Cr | Mar 2024 ₹282 Cr | Jun 2024 ₹177 Cr | Sep 2024 ₹210 Cr | Dec 2024 ₹222 Cr | Mar 2025 ₹279 Cr | Jun 2025 ₹184 Cr | Sep 2025 ₹214 Cr | Dec 2025 ₹239 Cr | Mar 2026 ₹291 Cr | Jun 2026 ₹193 Cr | Sep 2026 —
- JILL: Dec 2021 ₹152 Cr | Mar 2022 ₹145 Cr | Jun 2022 ₹157 Cr | Sep 2022 ₹160 Cr | Dec 2022 ₹150 Cr | Mar 2023 ₹151 Cr | Jun 2023 ₹150 Cr | Sep 2023 ₹157 Cr | Dec 2023 ₹151 Cr | Mar 2024 ₹150 Cr | Jun 2024 ₹162 Cr | Sep 2024 ₹155 Cr | Dec 2024 ₹151 Cr | Mar 2025 ₹143 Cr | Jun 2025 ₹154 Cr | Sep 2025 ₹154 Cr | Dec 2025 ₹151 Cr | Mar 2026 ₹138 Cr | Jun 2026 ₹144 Cr | Sep 2026 —
- CURV: Dec 2021 ₹306 Cr | Mar 2022 ₹332 Cr | Jun 2022 ₹333 Cr | Sep 2022 ₹354 Cr | Dec 2022 ₹300 Cr | Mar 2023 ₹301 Cr | Jun 2023 ₹294 Cr | Sep 2023 ₹289 Cr | Dec 2023 ₹275 Cr | Mar 2024 ₹294 Cr | Jun 2024 ₹280 Cr | Sep 2024 ₹285 Cr | Dec 2024 ₹264 Cr | Mar 2025 ₹276 Cr | Jun 2025 ₹266 Cr | Sep 2025 ₹263 Cr | Dec 2025 ₹235 Cr | Mar 2026 ₹236 Cr | Jun 2026 ₹246 Cr | Sep 2026 —
- DLTH: Dec 2021 ₹145 Cr | Mar 2022 ₹271 Cr | Jun 2022 ₹123 Cr | Sep 2022 ₹142 Cr | Dec 2022 ₹147 Cr | Mar 2023 ₹242 Cr | Jun 2023 ₹124 Cr | Sep 2023 ₹139 Cr | Dec 2023 ₹138 Cr | Mar 2024 ₹246 Cr | Jun 2024 ₹117 Cr | Sep 2024 ₹142 Cr | Dec 2024 ₹127 Cr | Mar 2025 ₹241 Cr | Jun 2025 ₹103 Cr | Sep 2025 ₹132 Cr | Dec 2025 ₹115 Cr | Mar 2026 ₹216 Cr | Jun 2026 ₹99 Cr | Sep 2026 —
- TLYS: Dec 2021 ₹206 Cr | Mar 2022 ₹204 Cr | Jun 2022 ₹146 Cr | Sep 2022 ₹168 Cr | Dec 2022 ₹178 Cr | Mar 2023 ₹180 Cr | Jun 2023 ₹124 Cr | Sep 2023 ₹160 Cr | Dec 2023 ₹166 Cr | Mar 2024 ₹173 Cr | Jun 2024 ₹116 Cr | Sep 2024 ₹163 Cr | Dec 2024 ₹143 Cr | Mar 2025 ₹147 Cr | Jun 2025 ₹108 Cr | Sep 2025 ₹151 Cr | Dec 2025 ₹140 Cr | Mar 2026 ₹155 Cr | Jun 2026 ₹125 Cr | Sep 2026 —
- RENT: Dec 2021 ₹59 Cr | Mar 2022 ₹64 Cr | Jun 2022 ₹67 Cr | Sep 2022 ₹77 Cr | Dec 2022 ₹77 Cr | Mar 2023 ₹75 Cr | Jun 2023 ₹74 Cr | Sep 2023 ₹76 Cr | Dec 2023 ₹73 Cr | Mar 2024 ₹76 Cr | Jun 2024 ₹75 Cr | Sep 2024 ₹79 Cr | Dec 2024 ₹76 Cr | Mar 2025 ₹76 Cr | Jun 2025 ₹70 Cr | Sep 2025 ₹81 Cr | Dec 2025 ₹88 Cr | Mar 2026 ₹92 Cr | Jun 2026 ₹90 Cr | Sep 2026 —
- AKA: Dec 2021 ₹182 Cr | Mar 2022 ₹148 Cr | Jun 2022 ₹158 Cr | Sep 2022 ₹156 Cr | Dec 2022 ₹149 Cr | Mar 2023 ₹120 Cr | Jun 2023 ₹136 Cr | Sep 2023 ₹141 Cr | Dec 2023 ₹149 Cr | Mar 2024 ₹117 Cr | Jun 2024 ₹149 Cr | Sep 2024 ₹150 Cr | Dec 2024 ₹159 Cr | Mar 2025 ₹129 Cr | Jun 2025 ₹161 Cr | Sep 2025 ₹147 Cr | Dec 2025 ₹164 Cr | Mar 2026 ₹132 Cr | Jun 2026 — | Sep 2026 —

### 20-quarter Revenue growth history
- TJX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -1.9% | Dec 2022 -2.9% | Mar 2023 4.8% | Jun 2023 3.3% | Sep 2023 7.7% | Dec 2023 9.0% | Mar 2024 13% | Jun 2024 5.9% | Sep 2024 5.6% | Dec 2024 6.0% | Mar 2025 -0.4% | Jun 2025 5.1% | Sep 2025 6.9% | Dec 2025 7.5% | Mar 2026 8.5% | Jun 2026 9.2% | Sep 2026 —
- ROST: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -4.6% | Dec 2022 -0.2% | Mar 2023 3.8% | Jun 2023 3.7% | Sep 2023 7.7% | Dec 2023 7.9% | Mar 2024 16% | Jun 2024 8.1% | Sep 2024 7.2% | Dec 2024 3.0% | Mar 2025 -1.8% | Jun 2025 2.6% | Sep 2025 4.6% | Dec 2025 10% | Mar 2026 12% | Jun 2026 21% | Sep 2026 —
- BURL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -10% | Dec 2022 -11% | Mar 2023 5.2% | Jun 2023 11% | Sep 2023 9.4% | Dec 2023 12% | Mar 2024 14% | Jun 2024 11% | Sep 2024 13% | Dec 2024 11% | Mar 2025 4.8% | Jun 2025 6.0% | Sep 2025 9.7% | Dec 2025 7.1% | Mar 2026 11% | Jun 2026 14% | Sep 2026 —
- LULU: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 29% | Dec 2022 28% | Mar 2023 30% | Jun 2023 24% | Sep 2023 18% | Dec 2023 19% | Mar 2024 16% | Jun 2024 10% | Sep 2024 7.3% | Dec 2024 8.8% | Mar 2025 13% | Jun 2025 7.3% | Sep 2025 6.5% | Dec 2025 7.1% | Mar 2026 0.8% | Jun 2026 4.3% | Sep 2026 —
- GAP: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -8.4% | Dec 2022 2.4% | Mar 2023 -6.2% | Jun 2023 -5.8% | Sep 2023 -8.0% | Dec 2023 -6.7% | Mar 2024 1.3% | Jun 2024 3.4% | Sep 2024 4.9% | Dec 2024 1.7% | Mar 2025 -3.5% | Jun 2025 2.2% | Sep 2025 0.1% | Dec 2025 3.0% | Mar 2026 2.1% | Jun 2026 1.0% | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -100% | Jun 2023 -5.2% | Sep 2023 -6.2% | Dec 2023 -4.0% | Mar 2024 — | Jun 2024 -3.4% | Sep 2024 -0.7% | Dec 2024 6.5% | Mar 2025 1.1% | Jun 2025 -0.4% | Sep 2025 3.0% | Dec 2025 9.3% | Mar 2026 7.8% | Jun 2026 15% | Sep 2026 —
- URBN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 2.2% | Dec 2022 3.9% | Mar 2023 4.0% | Jun 2023 5.9% | Sep 2023 7.5% | Dec 2023 9.0% | Mar 2024 7.3% | Jun 2024 7.8% | Sep 2024 6.3% | Dec 2024 6.3% | Mar 2025 10% | Jun 2025 11% | Sep 2025 11% | Dec 2025 12% | Mar 2026 10% | Jun 2026 11% | Sep 2026 —
- BOOT: Dec 2021 — | Mar 2022 — | Jun 2022 20% | Sep 2022 12% | Dec 2022 6.0% | Mar 2023 — | Jun 2023 16% | Sep 2023 9.1% | Dec 2023 1.0% | Mar 2024 — | Jun 2024 -0.7% | Sep 2024 11% | Dec 2024 17% | Mar 2025 17% | Jun 2025 19% | Sep 2025 19% | Dec 2025 16% | Mar 2026 19% | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -6.9% | Dec 2022 -2.8% | Mar 2023 3.4% | Jun 2023 2.8% | Sep 2023 16% | Dec 2023 20% | Mar 2024 21% | Jun 2024 22% | Sep 2024 21% | Dec 2024 14% | Mar 2025 9.1% | Jun 2025 7.4% | Sep 2025 6.6% | Dec 2025 6.8% | Mar 2026 5.4% | Jun 2026 1.6% | Sep 2026 —
- AEO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.3% | Dec 2022 -2.6% | Mar 2023 -0.8% | Jun 2023 2.5% | Sep 2023 0.3% | Dec 2023 4.8% | Mar 2024 12% | Jun 2024 5.8% | Sep 2024 7.5% | Dec 2024 -0.9% | Mar 2025 -4.4% | Jun 2025 -4.7% | Sep 2025 -0.5% | Dec 2025 5.7% | Mar 2026 13% | Jun 2026 9.6% | Sep 2026 —
- BKE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 2.4% | Dec 2022 4.1% | Mar 2023 5.5% | Jun 2023 -8.4% | Sep 2023 -3.3% | Dec 2023 -8.7% | Mar 2024 -5.0% | Jun 2024 -7.4% | Sep 2024 -3.4% | Dec 2024 -3.0% | Mar 2025 -0.8% | Jun 2025 3.8% | Sep 2025 8.5% | Dec 2025 9.2% | Mar 2026 5.3% | Jun 2026 6.3% | Sep 2026 —
- CRI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -6.0% | Dec 2022 -8.1% | Mar 2023 — | Jun 2023 -11% | Sep 2023 -14% | Dec 2023 4.8% | Mar 2024 — | Jun 2024 -19% | Sep 2024 26% | Dec 2024 0.2% | Mar 2025 -4.7% | Jun 2025 3.7% | Sep 2025 0.0% | Dec 2025 — | Mar 2026 47% | Jun 2026 16% | Sep 2026 —
- CTRN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -22% | Dec 2022 -16% | Mar 2023 -13% | Jun 2023 -13% | Sep 2023 -6.0% | Dec 2023 -6.3% | Mar 2024 2.9% | Jun 2024 3.3% | Sep 2024 1.7% | Dec 2024 -0.6% | Mar 2025 -1.9% | Jun 2025 8.6% | Sep 2025 7.9% | Dec 2025 10% | Mar 2026 9.0% | Jun 2026 14% | Sep 2026 —
- SFIX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -25% | Dec 2022 -24% | Mar 2023 -22% | Jun 2023 -22% | Sep 2023 -15% | Dec 2023 -18% | Mar 2024 -18% | Jun 2024 -16% | Sep 2024 -12% | Dec 2024 -13% | Mar 2025 -5.5% | Jun 2025 0.6% | Sep 2025 -2.8% | Dec 2025 7.2% | Mar 2026 9.3% | Jun 2026 4.6% | Sep 2026 —
- CAL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 9.2% | Dec 2022 1.8% | Mar 2023 2.5% | Jun 2023 -9.8% | Sep 2023 -5.7% | Dec 2023 -4.5% | Mar 2024 0.1% | Jun 2024 -0.6% | Sep 2024 -1.9% | Dec 2024 -2.8% | Mar 2025 -8.3% | Jun 2025 -6.8% | Sep 2025 -3.5% | Dec 2025 6.6% | Mar 2026 8.8% | Jun 2026 8.6% | Sep 2026 —
- GCO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -3.6% | Dec 2022 0.5% | Mar 2023 -0.4% | Jun 2023 -7.3% | Sep 2023 -2.2% | Dec 2023 -4.1% | Mar 2024 1.9% | Jun 2024 -5.2% | Sep 2024 0.4% | Dec 2024 2.9% | Mar 2025 1.0% | Jun 2025 3.5% | Sep 2025 4.0% | Dec 2025 3.4% | Mar 2026 7.2% | Jun 2026 2.7% | Sep 2026 —
- SHOE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -6.0% | Dec 2022 -3.9% | Mar 2023 -7.0% | Jun 2023 -12% | Sep 2023 -5.5% | Dec 2023 -6.4% | Mar 2024 -3.8% | Jun 2024 6.8% | Sep 2024 13% | Dec 2024 -4.1% | Mar 2025 -6.1% | Jun 2025 -7.3% | Sep 2025 -8.1% | Dec 2025 -3.3% | Mar 2026 -3.4% | Jun 2026 -2.5% | Sep 2026 —
- LE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -8.6% | Dec 2022 -1.3% | Mar 2023 -4.5% | Jun 2023 2.0% | Sep 2023 -8.0% | Dec 2023 -12% | Mar 2024 -2.8% | Jun 2024 -8.1% | Sep 2024 -1.9% | Dec 2024 -1.9% | Mar 2025 -14% | Jun 2025 -8.4% | Sep 2025 -7.3% | Dec 2025 -0.6% | Mar 2026 4.5% | Jun 2026 -8.4% | Sep 2026 —
- ZUMZ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -18% | Dec 2022 -18% | Mar 2023 -19% | Jun 2023 -17% | Sep 2023 -12% | Dec 2023 -9.2% | Mar 2024 0.7% | Jun 2024 -3.3% | Sep 2024 8.3% | Dec 2024 2.8% | Mar 2025 -1.1% | Jun 2025 4.0% | Sep 2025 1.9% | Dec 2025 7.7% | Mar 2026 4.3% | Jun 2026 4.9% | Sep 2026 —
- JILL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.6% | Dec 2022 -1.3% | Mar 2023 4.1% | Jun 2023 -4.5% | Sep 2023 -1.9% | Dec 2023 0.7% | Mar 2024 -0.7% | Jun 2024 8.0% | Sep 2024 -1.3% | Dec 2024 0.0% | Mar 2025 -4.7% | Jun 2025 -4.9% | Sep 2025 -0.7% | Dec 2025 0.0% | Mar 2026 -3.5% | Jun 2026 -6.5% | Sep 2026 —
- CURV: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 6.3% | Dec 2022 -2.0% | Mar 2023 -9.3% | Jun 2023 -12% | Sep 2023 -18% | Dec 2023 -8.3% | Mar 2024 -2.3% | Jun 2024 -4.8% | Sep 2024 -1.4% | Dec 2024 -4.0% | Mar 2025 -6.1% | Jun 2025 -5.0% | Sep 2025 -7.7% | Dec 2025 -11% | Mar 2026 -14% | Jun 2026 -7.5% | Sep 2026 —
- DLTH: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -4.7% | Dec 2022 1.4% | Mar 2023 -11% | Jun 2023 0.8% | Sep 2023 -2.1% | Dec 2023 -6.1% | Mar 2024 1.7% | Jun 2024 -5.7% | Sep 2024 2.2% | Dec 2024 -8.0% | Mar 2025 -2.0% | Jun 2025 -12% | Sep 2025 -7.0% | Dec 2025 -9.5% | Mar 2026 -10% | Jun 2026 -3.9% | Sep 2026 —
- TLYS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -17% | Dec 2022 -14% | Mar 2023 -12% | Jun 2023 -15% | Sep 2023 -4.8% | Dec 2023 -6.7% | Mar 2024 -3.9% | Jun 2024 -6.5% | Sep 2024 1.9% | Dec 2024 -14% | Mar 2025 -15% | Jun 2025 -6.9% | Sep 2025 -7.4% | Dec 2025 -2.1% | Mar 2026 5.4% | Jun 2026 16% | Sep 2026 —
- RENT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 64% | Dec 2022 31% | Mar 2023 17% | Jun 2023 10% | Sep 2023 -1.3% | Dec 2023 -5.2% | Mar 2024 1.3% | Jun 2024 1.4% | Sep 2024 4.0% | Dec 2024 4.1% | Mar 2025 0.0% | Jun 2025 -6.7% | Sep 2025 2.5% | Dec 2025 16% | Mar 2026 21% | Jun 2026 29% | Sep 2026 —
- AKA: Dec 2021 — | Mar 2022 — | Jun 2022 6.0% | Sep 2022 -3.7% | Dec 2022 -18% | Mar 2023 -19% | Jun 2023 -14% | Sep 2023 -9.6% | Dec 2023 0.0% | Mar 2024 -2.5% | Jun 2024 9.6% | Sep 2024 6.4% | Dec 2024 6.7% | Mar 2025 10% | Jun 2025 8.1% | Sep 2025 -2.0% | Dec 2025 3.1% | Mar 2026 2.3% | Jun 2026 — | Sep 2026 —

## Operating Economics & Margin Trend

What the numbers say: The Buckle, Inc. leads opm at 20.6%; Tilly's, Inc. leads margin change at +14.6 percentage points.

Investor read: The Buckle, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: The Buckle, Inc. · 20.6% | 53.7% versus #2 · Ross Stores, Inc. | 4/8 recent comparable periods | 25/25 companies · 468 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. The Buckle, Inc. (BKE): 21%
2. Ross Stores, Inc. (ROST): 13%
3. The Gap, Inc. (GAP): 13%
4. The TJX Companies, Inc. (TJX): 12%
5. lululemon athletica inc. (LULU): 11%

### Margin change — fastest expanders
1. Tilly's, Inc. (TLYS): +14.6 pp
2. American Eagle Outfitters, Inc. (AEO): +10.2 pp
3. Rent the Runway, Inc. (RENT): +6.4 pp
4. The Gap, Inc. (GAP): +5.2 pp
5. The Buckle, Inc. (BKE): +4.6 pp

### 20-quarter OPM history
- TJX: Dec 2021 11% | Mar 2022 9.1% | Jun 2022 9.5% | Sep 2022 9.3% | Dec 2022 11% | Mar 2023 9.1% | Jun 2023 9.9% | Sep 2023 10% | Dec 2023 12% | Mar 2024 11% | Jun 2024 11% | Sep 2024 11% | Dec 2024 12% | Mar 2025 11% | Jun 2025 10% | Sep 2025 11% | Dec 2025 13% | Mar 2026 13% | Jun 2026 12% | Sep 2026 —
- ROST: Dec 2021 11% | Mar 2022 9.8% | Jun 2022 11% | Sep 2022 11% | Dec 2022 9.8% | Mar 2023 11% | Jun 2023 10% | Sep 2023 11% | Dec 2023 11% | Mar 2024 12% | Jun 2024 12% | Sep 2024 13% | Dec 2024 12% | Mar 2025 12% | Jun 2025 12% | Sep 2025 12% | Dec 2025 12% | Mar 2026 12% | Jun 2026 13% | Sep 2026 —
- BURL: Dec 2021 5.7% | Mar 2022 8.8% | Jun 2022 2.3% | Sep 2022 0.9% | Dec 2022 1.8% | Mar 2023 9.5% | Jun 2023 3.7% | Sep 2023 2.6% | Dec 2023 3.8% | Mar 2024 10% | Jun 2024 4.9% | Sep 2024 4.3% | Dec 2024 5.1% | Mar 2025 11% | Jun 2025 5.5% | Sep 2025 5.1% | Dec 2025 5.5% | Mar 2026 11% | Jun 2026 5.8% | Sep 2026 —
- LULU: Dec 2021 18% | Mar 2022 28% | Jun 2022 16% | Sep 2022 22% | Dec 2022 19% | Mar 2023 11% | Jun 2023 20% | Sep 2023 22% | Dec 2023 15% | Mar 2024 29% | Jun 2024 20% | Sep 2024 23% | Dec 2024 21% | Mar 2025 29% | Jun 2025 19% | Sep 2025 21% | Dec 2025 17% | Mar 2026 22% | Jun 2026 11% | Sep 2026 —
- GAP: Dec 2021 3.9% | Mar 2022 0.2% | Jun 2022 -5.7% | Sep 2022 -0.7% | Dec 2022 4.6% | Mar 2023 -0.7% | Jun 2023 -0.3% | Sep 2023 3.0% | Dec 2023 6.6% | Mar 2024 5.0% | Jun 2024 6.1% | Sep 2024 7.9% | Dec 2024 9.3% | Mar 2025 6.2% | Jun 2025 7.5% | Sep 2025 7.8% | Dec 2025 8.5% | Mar 2026 5.4% | Jun 2026 13% | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 15% | Jun 2022 6.3% | Sep 2022 6.4% | Dec 2022 3.3% | Mar 2023 — | Jun 2023 2.0% | Sep 2023 1.8% | Dec 2023 -5.3% | Mar 2024 4.6% | Jun 2024 1.9% | Sep 2024 4.4% | Dec 2024 -3.5% | Mar 2025 13% | Jun 2025 1.5% | Sep 2025 2.8% | Dec 2025 -1.3% | Mar 2026 10% | Jun 2026 4.9% | Sep 2026 —
- URBN: Dec 2021 10% | Mar 2022 4.0% | Jun 2022 4.4% | Sep 2022 7.3% | Dec 2022 4.9% | Mar 2023 2.7% | Jun 2023 6.4% | Sep 2023 10% | Dec 2023 8.5% | Mar 2024 3.9% | Jun 2024 6.2% | Sep 2024 11% | Dec 2024 9.4% | Mar 2025 7.7% | Jun 2025 9.6% | Sep 2025 12% | Dec 2025 9.4% | Mar 2026 8.8% | Jun 2026 9.4% | Sep 2026 —
- BOOT: Dec 2021 19% | Mar 2022 16% | Jun 2022 14% | Sep 2022 13% | Dec 2022 14% | Mar 2023 — | Jun 2023 15% | Sep 2023 12% | Dec 2023 14% | Mar 2024 9.8% | Jun 2024 12% | Sep 2024 9.4% | Dec 2024 16% | Mar 2025 11% | Jun 2025 14% | Sep 2025 11% | Dec 2025 16% | Mar 2026 11% | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 8.0% | Mar 2022 8.4% | Jun 2022 -1.2% | Sep 2022 -0.3% | Dec 2022 2.0% | Mar 2023 7.3% | Jun 2023 4.1% | Sep 2023 9.6% | Dec 2023 13% | Mar 2024 15% | Jun 2024 13% | Sep 2024 16% | Dec 2024 15% | Mar 2025 16% | Jun 2025 9.3% | Sep 2025 17% | Dec 2025 12% | Mar 2026 14% | Jun 2026 8.0% | Sep 2026 —
- AEO: Dec 2021 100% | Mar 2022 100% | Jun 2022 100% | Sep 2022 100% | Dec 2022 100% | Mar 2023 100% | Jun 2023 100% | Sep 2023 100% | Dec 2023 100% | Mar 2024 100% | Jun 2024 100% | Sep 2024 100% | Dec 2024 100% | Mar 2025 100% | Jun 2025 -7.8% | Sep 2025 100% | Dec 2025 100% | Mar 2026 100% | Jun 2026 2.4% | Sep 2026 —
- BKE: Dec 2021 26% | Mar 2022 29% | Jun 2022 24% | Sep 2022 22% | Dec 2022 24% | Mar 2023 27% | Jun 2023 19% | Sep 2023 19% | Dec 2023 21% | Mar 2024 25% | Jun 2024 16% | Sep 2024 17% | Dec 2024 19% | Mar 2025 25% | Jun 2025 16% | Sep 2025 18% | Dec 2025 19% | Mar 2026 25% | Jun 2026 21% | Sep 2026 —
- CRI: Dec 2021 14% | Mar 2022 13% | Jun 2022 13% | Sep 2022 11% | Dec 2022 11% | Mar 2023 — | Jun 2023 8.1% | Sep 2023 6.3% | Dec 2023 16% | Mar 2024 8.3% | Jun 2024 7.0% | Sep 2024 10% | Dec 2024 9.7% | Mar 2025 4.1% | Jun 2025 0.7% | Sep 2025 3.8% | Dec 2025 — | Mar 2026 9.2% | Jun 2026 4.2% | Sep 2026 —
- CTRN: Dec 2021 5.1% | Mar 2022 5.2% | Jun 2022 19% | Sep 2022 -1.8% | Dec 2022 16% | Mar 2023 3.5% | Jun 2023 -5.3% | Sep 2023 -4.6% | Dec 2023 -3.3% | Mar 2024 1.8% | Jun 2024 -3.7% | Sep 2024 -14% | Dec 2024 -4.9% | Mar 2025 0.6% | Jun 2025 0.2% | Sep 2025 -3.9% | Dec 2025 -3.7% | Mar 2026 2.9% | Jun 2026 3.2% | Sep 2026 —
- SFIX: Dec 2021 -0.3% | Mar 2022 -5.9% | Jun 2022 -16% | Sep 2022 -23% | Dec 2022 -11% | Mar 2023 -16% | Jun 2023 -5.4% | Sep 2023 -6.3% | Dec 2023 -7.9% | Mar 2024 -12% | Jun 2024 -7.7% | Sep 2024 -13% | Dec 2024 -2.8% | Mar 2025 -2.9% | Jun 2025 -3.0% | Sep 2025 -3.6% | Dec 2025 -2.5% | Mar 2026 -1.4% | Jun 2026 -1.2% | Sep 2026 —
- CAL: Dec 2021 10% | Mar 2022 6.5% | Jun 2022 9.0% | Sep 2022 9.3% | Dec 2022 6.7% | Mar 2023 3.7% | Jun 2023 7.5% | Sep 2023 7.1% | Dec 2023 8.5% | Mar 2024 4.4% | Jun 2024 6.5% | Sep 2024 6.2% | Dec 2024 7.7% | Mar 2025 1.2% | Jun 2025 1.9% | Sep 2025 1.4% | Dec 2025 1.5% | Mar 2026 -3.8% | Jun 2026 3.6% | Sep 2026 —
- GCO: Dec 2021 7.3% | Mar 2022 12% | Jun 2022 1.6% | Sep 2022 1.7% | Dec 2022 4.3% | Mar 2023 6.9% | Jun 2023 -4.8% | Sep 2023 -7.4% | Dec 2023 1.9% | Mar 2024 5.0% | Jun 2024 -7.0% | Sep 2024 -2.0% | Dec 2024 1.7% | Mar 2025 6.2% | Jun 2025 -5.9% | Sep 2025 -2.6% | Dec 2025 1.4% | Mar 2026 6.4% | Jun 2026 -3.2% | Sep 2026 —
- SHOE: Dec 2021 18% | Mar 2022 8.9% | Jun 2022 11% | Sep 2022 12% | Dec 2022 13% | Mar 2023 9.9% | Jun 2023 7.4% | Sep 2023 8.4% | Dec 2023 8.7% | Mar 2024 7.1% | Jun 2024 7.5% | Sep 2024 9.0% | Dec 2024 8.0% | Mar 2025 5.3% | Jun 2025 4.3% | Sep 2025 8.2% | Dec 2025 6.3% | Mar 2026 4.3% | Jun 2026 -2.2% | Sep 2026 —
- LE: Dec 2021 5.2% | Mar 2022 3.1% | Jun 2022 1.3% | Sep 2022 1.6% | Dec 2022 0.7% | Mar 2023 2.4% | Jun 2023 3.2% | Sep 2023 1.8% | Dec 2023 -31% | Mar 2024 1.6% | Jun 2024 0.8% | Sep 2024 0.8% | Dec 2024 2.9% | Mar 2025 8.4% | Jun 2025 -0.9% | Sep 2025 1.4% | Dec 2025 5.3% | Mar 2026 5.6% | Jun 2026 -19% | Sep 2026 —
- ZUMZ: Dec 2021 14% | Mar 2022 15% | Jun 2022 0.2% | Sep 2022 2.3% | Dec 2022 4.4% | Mar 2023 5.4% | Jun 2023 -12% | Sep 2023 -5.4% | Dec 2023 -0.1% | Mar 2024 -12% | Jun 2024 -11% | Sep 2024 -0.2% | Dec 2024 1.1% | Mar 2025 7.2% | Jun 2025 -11% | Sep 2025 0.0% | Dec 2025 4.9% | Mar 2026 8.6% | Jun 2026 -7.9% | Sep 2026 —
- JILL: Dec 2021 13% | Mar 2022 5.2% | Jun 2022 15% | Sep 2022 18% | Dec 2022 13% | Mar 2023 5.2% | Jun 2023 17% | Sep 2023 18% | Dec 2023 15% | Mar 2024 7.0% | Jun 2024 18% | Sep 2024 15% | Dec 2024 13% | Mar 2025 3.6% | Jun 2025 12% | Sep 2025 11% | Dec 2025 9.9% | Mar 2026 -0.1% | Jun 2026 6.1% | Sep 2026 —
- CURV: Dec 2021 14% | Mar 2022 4.9% | Jun 2022 12% | Sep 2022 11% | Dec 2022 6.6% | Mar 2023 0.8% | Jun 2023 8.9% | Sep 2023 7.0% | Dec 2023 2.5% | Mar 2024 1.4% | Jun 2024 9.3% | Sep 2024 7.2% | Dec 2024 2.7% | Mar 2025 1.3% | Jun 2025 6.0% | Sep 2025 3.9% | Dec 2025 0.1% | Mar 2026 -2.1% | Jun 2026 3.5% | Sep 2026 —
- DLTH: Dec 2021 3.3% | Mar 2022 9.0% | Jun 2022 -0.8% | Sep 2022 2.7% | Dec 2022 -5.0% | Mar 2023 4.4% | Jun 2023 -3.7% | Sep 2023 -1.0% | Dec 2023 -9.0% | Mar 2024 3.6% | Jun 2024 -7.7% | Sep 2024 -1.1% | Dec 2024 -17% | Mar 2025 -1.8% | Jun 2025 -12% | Sep 2025 1.8% | Dec 2025 -7.7% | Mar 2026 4.0% | Jun 2026 -9.4% | Sep 2026 —
- TLYS: Dec 2021 14% | Mar 2022 8.5% | Jun 2022 0.8% | Sep 2022 3.1% | Dec 2022 3.6% | Mar 2023 -0.8% | Jun 2023 -14% | Sep 2023 -1.7% | Dec 2023 -1.5% | Mar 2024 -4.9% | Jun 2024 -18% | Sep 2024 -0.5% | Dec 2024 -9.8% | Mar 2025 -9.6% | Jun 2025 -21% | Sep 2025 1.8% | Dec 2025 -1.4% | Mar 2026 1.7% | Jun 2026 -6.5% | Sep 2026 —
- RENT: Dec 2021 -75% | Mar 2022 -47% | Jun 2022 -50% | Sep 2022 -34% | Dec 2022 -35% | Mar 2023 -24% | Jun 2023 -29% | Sep 2023 -23% | Dec 2023 -30% | Mar 2024 -26% | Jun 2024 -22% | Sep 2024 -12% | Dec 2024 -18% | Mar 2025 -10% | Jun 2025 -28% | Sep 2025 -25% | Dec 2025 -19% | Mar 2026 -1.6% | Jun 2026 -22% | Sep 2026 —
- AKA: Dec 2021 2.9% | Mar 2022 2.3% | Jun 2022 -1.6% | Sep 2022 1.8% | Dec 2022 -118% | Mar 2023 -5.4% | Jun 2023 -0.8% | Sep 2023 -50% | Dec 2023 -3.6% | Mar 2024 -5.2% | Jun 2024 0.4% | Sep 2024 -1.4% | Dec 2024 -1.8% | Mar 2025 -4.2% | Jun 2025 -0.3% | Sep 2025 -1.0% | Dec 2025 -6.6% | Mar 2026 -3.1% | Jun 2026 — | Sep 2026 —

### 20-quarter Margin change history
- TJX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.7 pp | Dec 2022 0.0 pp | Mar 2023 0.0 pp | Jun 2023 +0.4 pp | Sep 2023 +0.8 pp | Dec 2023 +0.5 pp | Mar 2024 +1.8 pp | Jun 2024 +0.8 pp | Sep 2024 +0.5 pp | Dec 2024 +0.3 pp | Mar 2025 +0.4 pp | Jun 2025 −0.7 pp | Sep 2025 +0.6 pp | Dec 2025 +0.5 pp | Mar 2026 +2.0 pp | Jun 2026 +1.8 pp | Sep 2026 —
- ROST: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.8 pp | Dec 2022 −1.6 pp | Mar 2023 +0.9 pp | Jun 2023 −0.7 pp | Sep 2023 0.0 pp | Dec 2023 +1.4 pp | Mar 2024 +1.7 pp | Jun 2024 +2.1 pp | Sep 2024 +1.2 pp | Dec 2024 +0.7 pp | Mar 2025 0.0 pp | Jun 2025 0.0 pp | Sep 2025 −1.0 pp | Dec 2025 −0.3 pp | Mar 2026 −0.1 pp | Jun 2026 +1.2 pp | Sep 2026 —
- BURL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.8 pp | Dec 2022 −3.9 pp | Mar 2023 +0.7 pp | Jun 2023 +1.4 pp | Sep 2023 +1.7 pp | Dec 2023 +2.0 pp | Mar 2024 +0.7 pp | Jun 2024 +1.2 pp | Sep 2024 +1.7 pp | Dec 2024 +1.3 pp | Mar 2025 +0.5 pp | Jun 2025 +0.6 pp | Sep 2025 +0.8 pp | Dec 2025 +0.4 pp | Mar 2026 +0.5 pp | Jun 2026 +0.3 pp | Sep 2026 —
- LULU: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.4 pp | Dec 2022 +1.2 pp | Mar 2023 −16.4 pp | Jun 2023 +4.0 pp | Sep 2023 +0.2 pp | Dec 2023 −3.7 pp | Mar 2024 +17.2 pp | Jun 2024 −0.5 pp | Sep 2024 +1.1 pp | Dec 2024 +5.2 pp | Mar 2025 +0.4 pp | Jun 2025 −1.1 pp | Sep 2025 −2.1 pp | Dec 2025 −3.5 pp | Mar 2026 −6.6 pp | Jun 2026 −7.3 pp | Sep 2026 —
- GAP: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −10.4 pp | Dec 2022 +0.7 pp | Mar 2023 −0.9 pp | Jun 2023 +5.4 pp | Sep 2023 +3.7 pp | Dec 2023 +2.0 pp | Mar 2024 +5.7 pp | Jun 2024 +6.4 pp | Sep 2024 +4.9 pp | Dec 2024 +2.7 pp | Mar 2025 +1.2 pp | Jun 2025 +1.4 pp | Sep 2025 −0.1 pp | Dec 2025 −0.8 pp | Mar 2026 −0.8 pp | Jun 2026 +5.2 pp | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −4.3 pp | Sep 2023 −4.6 pp | Dec 2023 −8.6 pp | Mar 2024 — | Jun 2024 −0.1 pp | Sep 2024 +2.6 pp | Dec 2024 +1.8 pp | Mar 2025 +8.1 pp | Jun 2025 −0.4 pp | Sep 2025 −1.6 pp | Dec 2025 +2.2 pp | Mar 2026 −2.6 pp | Jun 2026 +3.4 pp | Sep 2026 —
- URBN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −7.0 pp | Dec 2022 −5.3 pp | Mar 2023 −1.3 pp | Jun 2023 +2.0 pp | Sep 2023 +3.1 pp | Dec 2023 +3.6 pp | Mar 2024 +1.2 pp | Jun 2024 −0.2 pp | Sep 2024 +0.3 pp | Dec 2024 +0.9 pp | Mar 2025 +3.8 pp | Jun 2025 +3.4 pp | Sep 2025 +0.9 pp | Dec 2025 0.0 pp | Mar 2026 +1.1 pp | Jun 2026 −0.2 pp | Sep 2026 —
- BOOT: Dec 2021 — | Mar 2022 — | Jun 2022 −3.2 pp | Sep 2022 −3.4 pp | Dec 2022 −4.9 pp | Mar 2023 — | Jun 2023 +0.4 pp | Sep 2023 −0.5 pp | Dec 2023 +0.3 pp | Mar 2024 — | Jun 2024 −2.8 pp | Sep 2024 −2.7 pp | Dec 2024 +2.0 pp | Mar 2025 +1.2 pp | Jun 2025 +2.1 pp | Sep 2025 +1.8 pp | Dec 2025 −0.1 pp | Mar 2026 −0.4 pp | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −13.6 pp | Dec 2022 −6.0 pp | Mar 2023 −1.1 pp | Jun 2023 +5.3 pp | Sep 2023 +9.9 pp | Dec 2023 +11.1 pp | Mar 2024 +8.0 pp | Jun 2024 +8.6 pp | Sep 2024 +5.9 pp | Dec 2024 +1.7 pp | Mar 2025 +0.9 pp | Jun 2025 −3.4 pp | Sep 2025 +1.6 pp | Dec 2025 −2.8 pp | Mar 2026 −2.1 pp | Jun 2026 −1.3 pp | Sep 2026 —
- AEO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0 pp | Dec 2022 0.0 pp | Mar 2023 0.0 pp | Jun 2023 0.0 pp | Sep 2023 0.0 pp | Dec 2023 0.0 pp | Mar 2024 0.0 pp | Jun 2024 0.0 pp | Sep 2024 0.0 pp | Dec 2024 0.0 pp | Mar 2025 0.0 pp | Jun 2025 −107.8 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp | Jun 2026 +10.2 pp | Sep 2026 —
- BKE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.2 pp | Dec 2022 −1.8 pp | Mar 2023 −1.4 pp | Jun 2023 −4.6 pp | Sep 2023 −2.4 pp | Dec 2023 −2.8 pp | Mar 2024 −2.2 pp | Jun 2024 −2.8 pp | Sep 2024 −2.3 pp | Dec 2024 −2.5 pp | Mar 2025 +0.2 pp | Jun 2025 −0.2 pp | Sep 2025 +1.3 pp | Dec 2025 +0.4 pp | Mar 2026 −0.2 pp | Jun 2026 +4.6 pp | Sep 2026 —
- CRI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.6 pp | Dec 2022 −2.7 pp | Mar 2023 — | Jun 2023 −5.0 pp | Sep 2023 −4.5 pp | Dec 2023 +4.7 pp | Mar 2024 — | Jun 2024 −1.1 pp | Sep 2024 +3.9 pp | Dec 2024 −6.2 pp | Mar 2025 −4.2 pp | Jun 2025 −6.3 pp | Sep 2025 −6.4 pp | Dec 2025 — | Mar 2026 +5.1 pp | Jun 2026 +3.5 pp | Sep 2026 —
- CTRN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −8.7 pp | Dec 2022 +11.3 pp | Mar 2023 −1.7 pp | Jun 2023 −24.3 pp | Sep 2023 −2.8 pp | Dec 2023 −19.7 pp | Mar 2024 −1.7 pp | Jun 2024 +1.6 pp | Sep 2024 −9.5 pp | Dec 2024 −1.6 pp | Mar 2025 −1.2 pp | Jun 2025 +3.9 pp | Sep 2025 +10.2 pp | Dec 2025 +1.2 pp | Mar 2026 +2.3 pp | Jun 2026 +3.0 pp | Sep 2026 —
- SFIX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −26.7 pp | Dec 2022 −10.6 pp | Mar 2023 −9.9 pp | Jun 2023 +10.2 pp | Sep 2023 +16.8 pp | Dec 2023 +3.0 pp | Mar 2024 +4.3 pp | Jun 2024 −2.3 pp | Sep 2024 −6.8 pp | Dec 2024 +5.1 pp | Mar 2025 +8.6 pp | Jun 2025 +4.7 pp | Sep 2025 +9.5 pp | Dec 2025 +0.3 pp | Mar 2026 +1.5 pp | Jun 2026 +1.8 pp | Sep 2026 —
- CAL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0 pp | Dec 2022 −3.7 pp | Mar 2023 −2.8 pp | Jun 2023 −1.5 pp | Sep 2023 −2.2 pp | Dec 2023 +1.8 pp | Mar 2024 +0.7 pp | Jun 2024 −1.0 pp | Sep 2024 −0.9 pp | Dec 2024 −0.8 pp | Mar 2025 −3.2 pp | Jun 2025 −4.6 pp | Sep 2025 −4.8 pp | Dec 2025 −6.2 pp | Mar 2026 −5.0 pp | Jun 2026 +1.7 pp | Sep 2026 —
- GCO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 −3.0 pp | Mar 2023 −4.6 pp | Jun 2023 −6.4 pp | Sep 2023 −9.1 pp | Dec 2023 −2.4 pp | Mar 2024 −1.9 pp | Jun 2024 −2.2 pp | Sep 2024 +5.4 pp | Dec 2024 −0.2 pp | Mar 2025 +1.2 pp | Jun 2025 +1.1 pp | Sep 2025 −0.6 pp | Dec 2025 −0.3 pp | Mar 2026 +0.2 pp | Jun 2026 +2.7 pp | Sep 2026 —
- SHOE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −5.6 pp | Dec 2022 −4.7 pp | Mar 2023 +1.0 pp | Jun 2023 −3.7 pp | Sep 2023 −4.0 pp | Dec 2023 −4.1 pp | Mar 2024 −2.8 pp | Jun 2024 +0.1 pp | Sep 2024 +0.6 pp | Dec 2024 −0.7 pp | Mar 2025 −1.8 pp | Jun 2025 −3.2 pp | Sep 2025 −0.8 pp | Dec 2025 −1.7 pp | Mar 2026 −1.0 pp | Jun 2026 −6.5 pp | Sep 2026 —
- LE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.6 pp | Dec 2022 −4.5 pp | Mar 2023 −0.7 pp | Jun 2023 +1.9 pp | Sep 2023 +0.2 pp | Dec 2023 −31.9 pp | Mar 2024 −0.8 pp | Jun 2024 −2.4 pp | Sep 2024 −1.0 pp | Dec 2024 +34.1 pp | Mar 2025 +6.8 pp | Jun 2025 −1.7 pp | Sep 2025 +0.6 pp | Dec 2025 +2.4 pp | Mar 2026 −2.8 pp | Jun 2026 −17.6 pp | Sep 2026 —
- ZUMZ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −9.6 pp | Dec 2022 −9.4 pp | Mar 2023 −9.5 pp | Jun 2023 −11.9 pp | Sep 2023 −7.7 pp | Dec 2023 −4.5 pp | Mar 2024 −17.0 pp | Jun 2024 +0.3 pp | Sep 2024 +5.2 pp | Dec 2024 +1.2 pp | Mar 2025 +18.8 pp | Jun 2025 +0.6 pp | Sep 2025 +0.2 pp | Dec 2025 +3.8 pp | Mar 2026 +1.4 pp | Jun 2026 +2.9 pp | Sep 2026 —
- JILL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.8 pp | Dec 2022 0.0 pp | Mar 2023 0.0 pp | Jun 2023 +1.7 pp | Sep 2023 +0.3 pp | Dec 2023 +2.2 pp | Mar 2024 +1.8 pp | Jun 2024 +0.7 pp | Sep 2024 −3.1 pp | Dec 2024 −2.0 pp | Mar 2025 −3.4 pp | Jun 2025 −5.2 pp | Sep 2025 −3.9 pp | Dec 2025 −2.8 pp | Mar 2026 −3.7 pp | Jun 2026 −6.3 pp | Sep 2026 —
- CURV: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +23.1 pp | Dec 2022 −7.7 pp | Mar 2023 −4.1 pp | Jun 2023 −3.0 pp | Sep 2023 −4.1 pp | Dec 2023 −4.1 pp | Mar 2024 +0.6 pp | Jun 2024 +0.4 pp | Sep 2024 +0.2 pp | Dec 2024 +0.2 pp | Mar 2025 −0.1 pp | Jun 2025 −3.3 pp | Sep 2025 −3.3 pp | Dec 2025 −2.6 pp | Mar 2026 −3.4 pp | Jun 2026 −2.5 pp | Sep 2026 —
- DLTH: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.1 pp | Dec 2022 −8.3 pp | Mar 2023 −4.6 pp | Jun 2023 −2.9 pp | Sep 2023 −3.7 pp | Dec 2023 −4.0 pp | Mar 2024 −0.8 pp | Jun 2024 −4.0 pp | Sep 2024 −0.1 pp | Dec 2024 −8.4 pp | Mar 2025 −5.4 pp | Jun 2025 −4.3 pp | Sep 2025 +2.9 pp | Dec 2025 +9.7 pp | Mar 2026 +5.8 pp | Jun 2026 +2.6 pp | Sep 2026 —
- TLYS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −10.0 pp | Dec 2022 −10.5 pp | Mar 2023 −9.3 pp | Jun 2023 −14.8 pp | Sep 2023 −4.8 pp | Dec 2023 −5.1 pp | Mar 2024 −4.1 pp | Jun 2024 −3.9 pp | Sep 2024 +1.2 pp | Dec 2024 −8.3 pp | Mar 2025 −4.7 pp | Jun 2025 −3.2 pp | Sep 2025 +2.3 pp | Dec 2025 +8.4 pp | Mar 2026 +11.3 pp | Jun 2026 +14.6 pp | Sep 2026 —
- RENT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +16.8 pp | Dec 2022 +40.0 pp | Mar 2023 +23.0 pp | Jun 2023 +20.8 pp | Sep 2023 +10.4 pp | Dec 2023 +4.7 pp | Mar 2024 −1.9 pp | Jun 2024 +6.7 pp | Sep 2024 +10.9 pp | Dec 2024 +12.1 pp | Mar 2025 +15.4 pp | Jun 2025 −6.3 pp | Sep 2025 −12.6 pp | Dec 2025 −0.4 pp | Mar 2026 +8.5 pp | Jun 2026 +6.4 pp | Sep 2026 —
- AKA: Dec 2021 — | Mar 2022 — | Jun 2022 −6.5 pp | Sep 2022 +1.1 pp | Dec 2022 −120.6 pp | Mar 2023 −7.7 pp | Jun 2023 +0.8 pp | Sep 2023 −51.8 pp | Dec 2023 +114.1 pp | Mar 2024 +0.2 pp | Jun 2024 +1.2 pp | Sep 2024 +48.6 pp | Dec 2024 +1.8 pp | Mar 2025 +1.0 pp | Jun 2025 −0.7 pp | Sep 2025 +0.4 pp | Dec 2025 −4.8 pp | Mar 2026 +1.1 pp | Jun 2026 — | Sep 2026 —

## Profit Scale & Acceleration

What the numbers say: The TJX Companies, Inc. leads with $5,790 million of TTM profit, 29.2% above American Eagle Outfitters, Inc.. Victoria's Secret & Co. shows 39.7% growth from a $243 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: The TJX Companies, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: The TJX Companies, Inc. · $5,790 million | 29.2% versus #2 · American Eagle Outfitters, Inc. | 6/8 recent comparable periods | 23/25 companies · 469 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. The TJX Companies, Inc. (TJX): ₹5.8K Cr
2. American Eagle Outfitters, Inc. (AEO): ₹4.5K Cr
3. Ross Stores, Inc. (ROST): ₹2.3K Cr
4. lululemon athletica inc. (LULU): ₹1.5K Cr
5. The Gap, Inc. (GAP): ₹962 Cr

### Profit growth — fastest growers
1. Victoria's Secret & Co. (VSXY): 40%
2. The TJX Companies, Inc. (TJX): 20%
3. Burlington Stores, Inc. (BURL): 18%
4. The Buckle, Inc. (BKE): 14%
5. Ross Stores, Inc. (ROST): 11%

### 20-quarter Net profit history
- TJX: Dec 2021 ₹1.0K Cr | Mar 2022 ₹940 Cr | Jun 2022 ₹587 Cr | Sep 2022 ₹810 Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.0K Cr | Jun 2023 ₹891 Cr | Sep 2023 ₹989 Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹1.3K Cr | Sep 2026 —
- ROST: Dec 2021 ₹385 Cr | Mar 2022 ₹367 Cr | Jun 2022 ₹338 Cr | Sep 2022 ₹385 Cr | Dec 2022 ₹342 Cr | Mar 2023 ₹447 Cr | Jun 2023 ₹371 Cr | Sep 2023 ₹446 Cr | Dec 2023 ₹447 Cr | Mar 2024 ₹610 Cr | Jun 2024 ₹488 Cr | Sep 2024 ₹527 Cr | Dec 2024 ₹489 Cr | Mar 2025 ₹587 Cr | Jun 2025 ₹479 Cr | Sep 2025 ₹508 Cr | Dec 2025 ₹512 Cr | Mar 2026 ₹646 Cr | Jun 2026 ₹650 Cr | Sep 2026 —
- BURL: Dec 2021 ₹14 Cr | Mar 2022 ₹122 Cr | Jun 2022 ₹16 Cr | Sep 2022 ₹12 Cr | Dec 2022 ₹17 Cr | Mar 2023 ₹185 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹31 Cr | Dec 2023 ₹49 Cr | Mar 2024 ₹227 Cr | Jun 2024 ₹79 Cr | Sep 2024 ₹74 Cr | Dec 2024 ₹91 Cr | Mar 2025 ₹261 Cr | Jun 2025 ₹101 Cr | Sep 2025 ₹94 Cr | Dec 2025 ₹105 Cr | Mar 2026 ₹310 Cr | Jun 2026 ₹115 Cr | Sep 2026 —
- LULU: Dec 2021 ₹188 Cr | Mar 2022 ₹435 Cr | Jun 2022 ₹190 Cr | Sep 2022 ₹290 Cr | Dec 2022 ₹255 Cr | Mar 2023 ₹120 Cr | Jun 2023 ₹290 Cr | Sep 2023 ₹342 Cr | Dec 2023 ₹249 Cr | Mar 2024 ₹669 Cr | Jun 2024 ₹321 Cr | Sep 2024 ₹393 Cr | Dec 2024 ₹352 Cr | Mar 2025 ₹748 Cr | Jun 2025 ₹315 Cr | Sep 2025 ₹371 Cr | Dec 2025 ₹307 Cr | Mar 2026 ₹587 Cr | Jun 2026 ₹195 Cr | Sep 2026 —
- GAP: Dec 2021 ₹-152 Cr | Mar 2022 ₹-16 Cr | Jun 2022 ₹-162 Cr | Sep 2022 ₹-49 Cr | Dec 2022 ₹282 Cr | Mar 2023 ₹-273 Cr | Jun 2023 ₹-18 Cr | Sep 2023 ₹117 Cr | Dec 2023 ₹218 Cr | Mar 2024 ₹185 Cr | Jun 2024 ₹158 Cr | Sep 2024 ₹206 Cr | Dec 2024 ₹274 Cr | Mar 2025 ₹206 Cr | Jun 2025 ₹193 Cr | Sep 2025 ₹216 Cr | Dec 2025 ₹236 Cr | Mar 2026 ₹171 Cr | Jun 2026 ₹339 Cr | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 ₹246 Cr | Jun 2022 ₹76 Cr | Sep 2022 ₹67 Cr | Dec 2022 ₹22 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹-1 Cr | Dec 2023 ₹-71 Cr | Mar 2024 ₹57 Cr | Jun 2024 ₹-3 Cr | Sep 2024 ₹32 Cr | Dec 2024 ₹-55 Cr | Mar 2025 ₹194 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹18 Cr | Dec 2025 ₹-31 Cr | Mar 2026 ₹199 Cr | Jun 2026 ₹57 Cr | Sep 2026 —
- URBN: Dec 2021 ₹89 Cr | Mar 2022 ₹41 Cr | Jun 2022 ₹32 Cr | Sep 2022 ₹59 Cr | Dec 2022 ₹37 Cr | Mar 2023 ₹31 Cr | Jun 2023 ₹53 Cr | Sep 2023 ₹104 Cr | Dec 2023 ₹83 Cr | Mar 2024 ₹48 Cr | Jun 2024 ₹62 Cr | Sep 2024 ₹117 Cr | Dec 2024 ₹103 Cr | Mar 2025 ₹120 Cr | Jun 2025 ₹108 Cr | Sep 2025 ₹144 Cr | Dec 2025 ₹116 Cr | Mar 2026 ₹96 Cr | Jun 2026 ₹116 Cr | Sep 2026 —
- BOOT: Dec 2021 ₹69 Cr | Mar 2022 ₹45 Cr | Jun 2022 ₹39 Cr | Sep 2022 ₹32 Cr | Dec 2022 ₹53 Cr | Mar 2023 — | Jun 2023 ₹46 Cr | Sep 2023 ₹34 Cr | Dec 2023 ₹56 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹39 Cr | Sep 2024 ₹29 Cr | Dec 2024 ₹75 Cr | Mar 2025 ₹38 Cr | Jun 2025 ₹53 Cr | Sep 2025 ₹42 Cr | Dec 2025 ₹86 Cr | Mar 2026 ₹44 Cr | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 ₹49 Cr | Mar 2022 ₹75 Cr | Jun 2022 ₹-15 Cr | Sep 2022 ₹-15 Cr | Dec 2022 ₹-1 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹18 Cr | Sep 2023 ₹59 Cr | Dec 2023 ₹98 Cr | Mar 2024 ₹161 Cr | Jun 2024 ₹115 Cr | Sep 2024 ₹135 Cr | Dec 2024 ₹134 Cr | Mar 2025 ₹190 Cr | Jun 2025 ₹82 Cr | Sep 2025 ₹143 Cr | Dec 2025 ₹115 Cr | Mar 2026 ₹175 Cr | Jun 2026 ₹68 Cr | Sep 2026 —
- AEO: Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹-65 Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹23 Cr | Sep 2026 —
- BKE: Dec 2021 ₹62 Cr | Mar 2022 ₹84 Cr | Jun 2022 ₹55 Cr | Sep 2022 ₹50 Cr | Dec 2022 ₹61 Cr | Mar 2023 ₹88 Cr | Jun 2023 ₹43 Cr | Sep 2023 ₹46 Cr | Dec 2023 ₹52 Cr | Mar 2024 ₹80 Cr | Jun 2024 ₹35 Cr | Sep 2024 ₹39 Cr | Dec 2024 ₹44 Cr | Mar 2025 ₹77 Cr | Jun 2025 ₹35 Cr | Sep 2025 ₹45 Cr | Dec 2025 ₹49 Cr | Mar 2026 ₹81 Cr | Jun 2026 ₹47 Cr | Sep 2026 —
- CRI: Dec 2021 ₹85 Cr | Mar 2022 ₹97 Cr | Jun 2022 ₹68 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹65 Cr | Mar 2023 — | Jun 2023 ₹36 Cr | Sep 2023 ₹24 Cr | Dec 2023 ₹107 Cr | Mar 2024 ₹38 Cr | Jun 2024 ₹28 Cr | Sep 2024 ₹58 Cr | Dec 2024 ₹62 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹12 Cr | Dec 2025 — | Mar 2026 ₹64 Cr | Jun 2026 ₹14 Cr | Sep 2026 —
- CTRN: Dec 2021 ₹12 Cr | Mar 2022 ₹13 Cr | Jun 2022 ₹40 Cr | Sep 2022 ₹-3 Cr | Dec 2022 ₹32 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹-9 Cr | Sep 2023 ₹-8 Cr | Dec 2023 ₹-6 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹-3 Cr | Sep 2024 ₹-25 Cr | Dec 2024 ₹-9 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹-7 Cr | Dec 2025 ₹-7 Cr | Mar 2026 ₹7 Cr | Jun 2026 ₹8 Cr | Sep 2026 —
- SFIX: Dec 2021 ₹-2 Cr | Mar 2022 ₹-31 Cr | Jun 2022 ₹-78 Cr | Sep 2022 ₹-96 Cr | Dec 2022 ₹-48 Cr | Mar 2023 ₹-63 Cr | Jun 2023 ₹-18 Cr | Sep 2023 ₹-20 Cr | Dec 2023 ₹-26 Cr | Mar 2024 ₹-35 Cr | Jun 2024 ₹-22 Cr | Sep 2024 ₹-36 Cr | Dec 2024 ₹-6 Cr | Mar 2025 ₹-7 Cr | Jun 2025 ₹-7 Cr | Sep 2025 ₹-9 Cr | Dec 2025 ₹-6 Cr | Mar 2026 ₹-3 Cr | Jun 2026 ₹-2 Cr | Sep 2026 —
- CAL: Dec 2021 ₹60 Cr | Mar 2022 ₹34 Cr | Jun 2022 ₹50 Cr | Sep 2022 ₹52 Cr | Dec 2022 ₹39 Cr | Mar 2023 ₹39 Cr | Jun 2023 ₹35 Cr | Sep 2023 ₹34 Cr | Dec 2023 ₹47 Cr | Mar 2024 ₹56 Cr | Jun 2024 ₹31 Cr | Sep 2024 ₹30 Cr | Dec 2024 ₹41 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹6 Cr | Sep 2025 ₹7 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹-24 Cr | Jun 2026 ₹14 Cr | Sep 2026 —
- GCO: Dec 2021 ₹33 Cr | Mar 2022 ₹62 Cr | Jun 2022 ₹5 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹20 Cr | Mar 2023 ₹39 Cr | Jun 2023 ₹-19 Cr | Sep 2023 ₹-32 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹-24 Cr | Sep 2024 ₹-10 Cr | Dec 2024 ₹-19 Cr | Mar 2025 ₹34 Cr | Jun 2025 ₹-21 Cr | Sep 2025 ₹-18 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹48 Cr | Jun 2026 ₹-15 Cr | Sep 2026 —
- SHOE: Dec 2021 ₹47 Cr | Mar 2022 ₹21 Cr | Jun 2022 ₹27 Cr | Sep 2022 ₹29 Cr | Dec 2022 ₹33 Cr | Mar 2023 ₹22 Cr | Jun 2023 ₹17 Cr | Sep 2023 ₹19 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹16 Cr | Jun 2024 ₹17 Cr | Sep 2024 ₹23 Cr | Dec 2024 ₹19 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹15 Cr | Mar 2026 ₹9 Cr | Jun 2026 ₹-6 Cr | Sep 2026 —
- LE: Dec 2021 ₹7 Cr | Mar 2022 ₹7 Cr | Jun 2022 ₹-2 Cr | Sep 2022 ₹-2 Cr | Dec 2022 ₹-5 Cr | Mar 2023 ₹-3 Cr | Jun 2023 ₹-2 Cr | Sep 2023 ₹-8 Cr | Dec 2023 ₹-112 Cr | Mar 2024 ₹-9 Cr | Jun 2024 ₹-6 Cr | Sep 2024 ₹-5 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹-8 Cr | Sep 2025 ₹-4 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹12 Cr | Jun 2026 ₹331 Cr | Sep 2026 —
- ZUMZ: Dec 2021 ₹31 Cr | Mar 2022 ₹38 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹11 Cr | Jun 2023 ₹-18 Cr | Sep 2023 ₹-9 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹-33 Cr | Jun 2024 ₹-17 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹-14 Cr | Sep 2025 ₹-1 Cr | Dec 2025 ₹9 Cr | Mar 2026 ₹20 Cr | Jun 2026 ₹-13 Cr | Sep 2026 —
- JILL: Dec 2021 ₹11 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹14 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹15 Cr | Dec 2023 ₹12 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹17 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹12 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹12 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹9 Cr | Mar 2026 ₹-4 Cr | Jun 2026 ₹5 Cr | Sep 2026 —
- CURV: Dec 2021 ₹-59 Cr | Mar 2022 ₹-23 Cr | Jun 2022 ₹24 Cr | Sep 2022 ₹23 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹-4 Cr | Jun 2023 ₹12 Cr | Sep 2023 ₹7 Cr | Dec 2023 ₹-3 Cr | Mar 2024 ₹-4 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹6 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹-6 Cr | Mar 2026 ₹-8 Cr | Jun 2026 ₹0 Cr | Sep 2026 —
- DLTH: Dec 2021 ₹3 Cr | Mar 2022 ₹17 Cr | Jun 2022 ₹-1 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹-6 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹-4 Cr | Sep 2023 ₹-2 Cr | Dec 2023 ₹-10 Cr | Mar 2024 ₹6 Cr | Jun 2024 ₹-8 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹-28 Cr | Mar 2025 ₹-6 Cr | Jun 2025 ₹-15 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹-10 Cr | Mar 2026 ₹8 Cr | Jun 2026 ₹-10 Cr | Sep 2026 —
- TLYS: Dec 2021 ₹21 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹4 Cr | Dec 2022 ₹5 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹-12 Cr | Sep 2023 ₹-1 Cr | Dec 2023 ₹-1 Cr | Mar 2024 ₹-21 Cr | Jun 2024 ₹-20 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹-13 Cr | Mar 2025 ₹-14 Cr | Jun 2025 ₹-22 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹-1 Cr | Mar 2026 ₹3 Cr | Jun 2026 ₹-8 Cr | Sep 2026 —
- RENT: Dec 2021 ₹-88 Cr | Mar 2022 ₹-39 Cr | Jun 2022 ₹-43 Cr | Sep 2022 ₹-34 Cr | Dec 2022 ₹-36 Cr | Mar 2023 ₹-26 Cr | Jun 2023 ₹-30 Cr | Sep 2023 ₹-27 Cr | Dec 2023 ₹-32 Cr | Mar 2024 ₹-25 Cr | Jun 2024 ₹-22 Cr | Sep 2024 ₹-16 Cr | Dec 2024 ₹-19 Cr | Mar 2025 ₹-13 Cr | Jun 2025 ₹-26 Cr | Sep 2025 ₹-26 Cr | Dec 2025 ₹77 Cr | Mar 2026 ₹-1 Cr | Jun 2026 ₹-19 Cr | Sep 2026 —
- AKA: Dec 2021 ₹0 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹-4 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹-174 Cr | Mar 2023 ₹-10 Cr | Jun 2023 ₹-5 Cr | Sep 2023 ₹-70 Cr | Dec 2023 ₹-14 Cr | Mar 2024 ₹-9 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-5 Cr | Dec 2024 ₹-9 Cr | Mar 2025 ₹-8 Cr | Jun 2025 ₹-4 Cr | Sep 2025 ₹-5 Cr | Dec 2025 ₹-14 Cr | Mar 2026 ₹-7 Cr | Jun 2026 — | Sep 2026 —

### 20-quarter Profit growth history
- TJX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 3.1% | Dec 2022 3.9% | Mar 2023 10% | Jun 2023 52% | Sep 2023 22% | Dec 2023 12% | Mar 2024 35% | Jun 2024 20% | Sep 2024 11% | Dec 2024 8.9% | Mar 2025 -0.4% | Jun 2025 -3.2% | Sep 2025 13% | Dec 2025 11% | Mar 2026 27% | Jun 2026 29% | Sep 2026 —
- ROST: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -22% | Dec 2022 -11% | Mar 2023 22% | Jun 2023 9.8% | Sep 2023 16% | Dec 2023 31% | Mar 2024 36% | Jun 2024 32% | Sep 2024 18% | Dec 2024 9.4% | Mar 2025 -3.8% | Jun 2025 -1.8% | Sep 2025 -3.6% | Dec 2025 4.7% | Mar 2026 10% | Jun 2026 36% | Sep 2026 —
- BURL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -88% | Dec 2022 21% | Mar 2023 52% | Jun 2023 106% | Sep 2023 158% | Dec 2023 188% | Mar 2024 23% | Jun 2024 139% | Sep 2024 139% | Dec 2024 86% | Mar 2025 15% | Jun 2025 28% | Sep 2025 27% | Dec 2025 15% | Mar 2026 19% | Jun 2026 14% | Sep 2026 —
- LULU: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 39% | Dec 2022 36% | Mar 2023 -72% | Jun 2023 53% | Sep 2023 18% | Dec 2023 -2.4% | Mar 2024 458% | Jun 2024 11% | Sep 2024 15% | Dec 2024 41% | Mar 2025 12% | Jun 2025 -1.9% | Sep 2025 -5.6% | Dec 2025 -13% | Mar 2026 -22% | Jun 2026 -38% | Sep 2026 —
- GAP: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -119% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -23% | Mar 2024 — | Jun 2024 — | Sep 2024 76% | Dec 2024 26% | Mar 2025 11% | Jun 2025 22% | Sep 2025 4.9% | Dec 2025 -14% | Mar 2026 -17% | Jun 2026 76% | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -100% | Jun 2023 -95% | Sep 2023 -101% | Dec 2023 -423% | Mar 2024 — | Jun 2024 -175% | Sep 2024 — | Dec 2024 — | Mar 2025 240% | Jun 2025 — | Sep 2025 -44% | Dec 2025 — | Mar 2026 2.6% | Jun 2026 1,800% | Sep 2026 —
- URBN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -54% | Dec 2022 -58% | Mar 2023 -24% | Jun 2023 66% | Sep 2023 76% | Dec 2023 124% | Mar 2024 55% | Jun 2024 17% | Sep 2024 13% | Dec 2024 24% | Mar 2025 150% | Jun 2025 74% | Sep 2025 23% | Dec 2025 13% | Mar 2026 -20% | Jun 2026 7.4% | Sep 2026 —
- BOOT: Dec 2021 — | Mar 2022 — | Jun 2022 -4.9% | Sep 2022 -16% | Dec 2022 -23% | Mar 2023 — | Jun 2023 18% | Sep 2023 6.3% | Dec 2023 5.7% | Mar 2024 — | Jun 2024 -15% | Sep 2024 -15% | Dec 2024 34% | Mar 2025 31% | Jun 2025 36% | Sep 2025 45% | Dec 2025 15% | Mar 2026 16% | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -114% | Dec 2022 -102% | Mar 2023 -40% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 258% | Jun 2024 539% | Sep 2024 129% | Dec 2024 37% | Mar 2025 18% | Jun 2025 -29% | Sep 2025 5.9% | Dec 2025 -14% | Mar 2026 -7.9% | Jun 2026 -17% | Sep 2026 —
- AEO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.3% | Dec 2022 -2.6% | Mar 2023 -0.8% | Jun 2023 2.5% | Sep 2023 0.3% | Dec 2023 4.8% | Mar 2024 12% | Jun 2024 5.8% | Sep 2024 7.5% | Dec 2024 -0.9% | Mar 2025 -4.4% | Jun 2025 -106% | Sep 2025 -0.5% | Dec 2025 5.7% | Mar 2026 13% | Jun 2026 — | Sep 2026 —
- BKE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -2.0% | Dec 2022 -1.6% | Mar 2023 4.8% | Jun 2023 -22% | Sep 2023 -8.0% | Dec 2023 -15% | Mar 2024 -9.1% | Jun 2024 -19% | Sep 2024 -15% | Dec 2024 -15% | Mar 2025 -3.8% | Jun 2025 0.0% | Sep 2025 15% | Dec 2025 11% | Mar 2026 5.2% | Jun 2026 34% | Sep 2026 —
- CRI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -49% | Dec 2022 -24% | Mar 2023 — | Jun 2023 -47% | Sep 2023 -35% | Dec 2023 65% | Mar 2024 — | Jun 2024 -22% | Sep 2024 142% | Dec 2024 -42% | Mar 2025 -58% | Jun 2025 -100% | Sep 2025 -79% | Dec 2025 — | Mar 2026 300% | Jun 2026 — | Sep 2026 —
- CTRN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -119% | Dec 2022 167% | Mar 2023 -46% | Jun 2023 -123% | Sep 2023 — | Dec 2023 -119% | Mar 2024 -43% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -75% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 600% | Jun 2026 700% | Sep 2026 —
- SFIX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -557% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- CAL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 37% | Dec 2022 -35% | Mar 2023 15% | Jun 2023 -30% | Sep 2023 -35% | Dec 2023 21% | Mar 2024 44% | Jun 2024 -11% | Sep 2024 -12% | Dec 2024 -13% | Mar 2025 -93% | Jun 2025 -81% | Sep 2025 -77% | Dec 2025 -98% | Mar 2026 -700% | Jun 2026 133% | Sep 2026 —
- GCO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -27% | Dec 2022 -39% | Mar 2023 -37% | Jun 2023 -480% | Sep 2023 -500% | Dec 2023 -65% | Mar 2024 -49% | Jun 2024 — | Sep 2024 — | Dec 2024 -371% | Mar 2025 70% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 41% | Jun 2026 — | Sep 2026 —
- SHOE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -34% | Dec 2022 -30% | Mar 2023 4.8% | Jun 2023 -37% | Sep 2023 -34% | Dec 2023 -33% | Mar 2024 -27% | Jun 2024 0.0% | Sep 2024 21% | Dec 2024 -14% | Mar 2025 -6.3% | Jun 2025 -47% | Sep 2025 -17% | Dec 2025 -21% | Mar 2026 -40% | Jun 2026 -167% | Sep 2026 —
- LE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -113% | Dec 2022 -171% | Mar 2023 -143% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -37% | Jun 2026 — | Sep 2026 —
- ZUMZ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -88% | Dec 2022 -77% | Mar 2023 -71% | Jun 2023 — | Sep 2023 -400% | Dec 2023 -129% | Mar 2024 -400% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 800% | Mar 2026 33% | Jun 2026 — | Sep 2026 —
- JILL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -18% | Mar 2023 -75% | Jun 2023 -64% | Sep 2023 -17% | Dec 2023 33% | Mar 2024 400% | Jun 2024 240% | Sep 2024 -47% | Dec 2024 0.0% | Mar 2025 -60% | Jun 2025 -29% | Sep 2025 38% | Dec 2025 -25% | Mar 2026 -300% | Jun 2026 -58% | Sep 2026 —
- CURV: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -41% | Dec 2022 — | Mar 2023 — | Jun 2023 -50% | Sep 2023 -70% | Dec 2023 -143% | Mar 2024 — | Jun 2024 0.0% | Sep 2024 14% | Dec 2024 — | Mar 2025 — | Jun 2025 -50% | Sep 2025 -75% | Dec 2025 — | Mar 2026 — | Jun 2026 -100% | Sep 2026 —
- DLTH: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -78% | Dec 2022 -300% | Mar 2023 -59% | Jun 2023 — | Sep 2023 -200% | Dec 2023 — | Mar 2024 -14% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -200% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- TLYS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -80% | Dec 2022 -76% | Mar 2023 -100% | Jun 2023 -1,300% | Sep 2023 -125% | Dec 2023 -120% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- AKA: Dec 2021 — | Mar 2022 — | Jun 2022 -300% | Sep 2022 — | Dec 2022 — | Mar 2023 -600% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —

## Return On Capital Employed

What the numbers say: Ross Stores, Inc. leads ROCE at 7.8%, 0.2 percentage points above The TJX Companies, Inc.. Carter's, Inc. has the strongest latest improvement at +5.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Ross Stores, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Ross Stores, Inc. · 7.8% | 2.6% versus #2 · The TJX Companies, Inc. | 6/8 recent comparable periods | 25/25 companies · 470 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Ross Stores, Inc. (ROST): 7.8%
2. The TJX Companies, Inc. (TJX): 7.6%
3. The Buckle, Inc. (BKE): 7.5%
4. Carter's, Inc. (CRI): 6.9%
5. The Gap, Inc. (GAP): 5.0%

### ROCE change — fastest improvers
1. Carter's, Inc. (CRI): +5.4 pp
2. Tilly's, Inc. (TLYS): +5.0 pp
3. American Eagle Outfitters, Inc. (AEO): +3.9 pp
4. Citi Trends, Inc. (CTRN): +2.3 pp
5. The Gap, Inc. (GAP): +1.9 pp

### 20-quarter ROCE history
- TJX: Dec 2021 7.3% | Mar 2022 6.7% | Jun 2022 5.7% | Sep 2022 6.1% | Dec 2022 7.6% | Mar 2023 7.3% | Jun 2023 6.5% | Sep 2023 7.3% | Dec 2023 8.6% | Mar 2024 9.6% | Jun 2024 7.1% | Sep 2024 7.4% | Dec 2024 8.7% | Mar 2025 9.2% | Jun 2025 6.5% | Sep 2025 7.8% | Dec 2025 9.1% | Mar 2026 11% | Jun 2026 7.6% | Sep 2026 —
- ROST: Dec 2021 5.8% | Mar 2022 5.4% | Jun 2022 5.0% | Sep 2022 5.5% | Dec 2022 4.7% | Mar 2023 5.8% | Jun 2023 4.7% | Sep 2023 5.7% | Dec 2023 5.6% | Mar 2024 7.5% | Jun 2024 6.1% | Sep 2024 6.7% | Dec 2024 6.1% | Mar 2025 7.2% | Jun 2025 6.2% | Sep 2025 6.4% | Dec 2025 6.3% | Mar 2026 7.8% | Jun 2026 7.8% | Sep 2026 —
- BURL: Dec 2021 2.5% | Mar 2022 4.5% | Jun 2022 0.8% | Sep 2022 0.4% | Dec 2022 0.7% | Mar 2023 5.0% | Jun 2023 1.5% | Sep 2023 1.1% | Dec 2023 1.6% | Mar 2024 5.8% | Jun 2024 2.1% | Sep 2024 2.0% | Dec 2024 2.2% | Mar 2025 5.8% | Jun 2025 2.3% | Sep 2025 2.2% | Dec 2025 2.2% | Mar 2026 5.8% | Jun 2026 2.3% | Sep 2026 —
- LULU: Dec 2021 8.1% | Mar 2022 17% | Jun 2022 7.6% | Sep 2022 11% | Dec 2022 9.5% | Mar 2023 8.2% | Jun 2023 10% | Sep 2023 12% | Dec 2023 7.9% | Mar 2024 19% | Jun 2024 8.9% | Sep 2024 11% | Dec 2024 10% | Mar 2025 19% | Jun 2025 7.8% | Sep 2025 9.3% | Dec 2025 7.7% | Mar 2026 13% | Jun 2026 4.4% | Sep 2026 —
- GAP: Dec 2021 1.6% | Mar 2022 0.1% | Jun 2022 -2.1% | Sep 2022 -0.3% | Dec 2022 2.1% | Mar 2023 -0.4% | Jun 2023 -0.1% | Sep 2023 1.3% | Dec 2023 3.0% | Mar 2024 2.7% | Jun 2024 2.5% | Sep 2024 3.6% | Dec 2024 4.3% | Mar 2025 3.1% | Jun 2025 3.1% | Sep 2025 3.4% | Dec 2025 3.8% | Mar 2026 2.5% | Jun 2026 5.0% | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 3.5% | Sep 2022 3.4% | Dec 2022 1.5% | Mar 2023 0.0% | Jun 2023 1.0% | Sep 2023 0.9% | Dec 2023 -2.2% | Mar 2024 8.5% | Jun 2024 0.9% | Sep 2024 2.0% | Dec 2024 -1.4% | Mar 2025 8.7% | Jun 2025 0.6% | Sep 2025 1.2% | Dec 2025 -0.5% | Mar 2026 6.9% | Jun 2026 2.2% | Sep 2026 —
- URBN: Dec 2021 4.3% | Mar 2022 2.0% | Jun 2022 1.7% | Sep 2022 3.1% | Dec 2022 2.1% | Mar 2023 1.3% | Jun 2023 2.6% | Sep 2023 4.6% | Dec 2023 3.8% | Mar 2024 1.9% | Jun 2024 2.5% | Sep 2024 4.6% | Dec 2024 4.0% | Mar 2025 3.8% | Jun 2025 3.9% | Sep 2025 5.1% | Dec 2025 4.1% | Mar 2026 4.3% | Jun 2026 3.9% | Sep 2026 —
- BOOT: Dec 2021 13% | Mar 2022 7.9% | Jun 2022 6.4% | Sep 2022 5.0% | Dec 2022 7.8% | Mar 2023 — | Jun 2023 6.3% | Sep 2023 4.4% | Dec 2023 6.3% | Mar 2024 3.0% | Jun 2024 3.8% | Sep 2024 2.9% | Dec 2024 6.8% | Mar 2025 3.3% | Jun 2025 4.4% | Sep 2025 3.4% | Dec 2025 6.4% | Mar 2026 3.1% | Jun 2026 4.7% | Sep 2026 —
- ANF: Dec 2021 3.3% | Mar 2022 4.6% | Jun 2022 -0.5% | Sep 2022 -0.1% | Dec 2022 0.9% | Mar 2023 4.7% | Jun 2023 1.9% | Sep 2023 4.9% | Dec 2023 7.6% | Mar 2024 12% | Jun 2024 6.8% | Sep 2024 9.1% | Dec 2024 9.1% | Mar 2025 12% | Jun 2025 4.9% | Sep 2025 9.7% | Dec 2025 7.0% | Mar 2026 10% | Jun 2026 3.9% | Sep 2026 —
- AEO: Dec 2021 47% | Mar 2022 55% | Jun 2022 38% | Sep 2022 43% | Dec 2022 42% | Mar 2023 54% | Jun 2023 39% | Sep 2023 43% | Dec 2023 46% | Mar 2024 63% | Jun 2024 42% | Sep 2024 48% | Dec 2024 46% | Mar 2025 57% | Jun 2025 -3.0% | Sep 2025 43% | Dec 2025 44% | Mar 2026 60% | Jun 2026 0.9% | Sep 2026 —
- BKE: Dec 2021 11% | Mar 2022 19% | Jun 2022 12% | Sep 2022 10% | Dec 2022 11% | Mar 2023 19% | Jun 2023 8.9% | Sep 2023 9.0% | Dec 2023 9.5% | Mar 2024 15% | Jun 2024 6.3% | Sep 2024 6.9% | Dec 2024 7.4% | Mar 2025 14% | Jun 2025 6.0% | Sep 2025 7.3% | Dec 2025 7.6% | Mar 2026 14% | Jun 2026 7.5% | Sep 2026 —
- CRI: Dec 2021 4.8% | Mar 2022 5.4% | Jun 2022 4.5% | Sep 2022 3.3% | Dec 2022 3.9% | Mar 2023 — | Jun 2023 3.0% | Sep 2023 2.0% | Dec 2023 7.2% | Mar 2024 2.9% | Jun 2024 2.2% | Sep 2024 4.1% | Dec 2024 4.4% | Mar 2025 1.4% | Jun 2025 0.2% | Sep 2025 1.5% | Dec 2025 — | Mar 2026 4.3% | Jun 2026 1.4% | Sep 2026 6.9%
- CTRN: Dec 2021 3.9% | Mar 2022 -14% | Jun 2022 12% | Sep 2022 -1.0% | Dec 2022 9.6% | Mar 2023 2.2% | Jun 2023 -2.6% | Sep 2023 -2.3% | Dec 2023 -1.6% | Mar 2024 1.1% | Jun 2024 -2.0% | Sep 2024 -7.3% | Dec 2024 -2.7% | Mar 2025 0.4% | Jun 2025 0.2% | Sep 2025 -2.4% | Dec 2025 -2.5% | Mar 2026 2.3% | Jun 2026 2.5% | Sep 2026 —
- SFIX: Dec 2021 -0.3% | Mar 2022 -5.1% | Jun 2022 -14% | Sep 2022 -19% | Dec 2022 -9.0% | Mar 2023 -12% | Jun 2023 -4.4% | Sep 2023 -5.4% | Dec 2023 -7.2% | Mar 2024 -10% | Jun 2024 -7.0% | Sep 2024 -13% | Dec 2024 -2.8% | Mar 2025 -3.0% | Jun 2025 -3.3% | Sep 2025 -4.0% | Dec 2025 -3.1% | Mar 2026 -1.7% | Jun 2026 -1.5% | Sep 2026 —
- CAL: Dec 2021 8.7% | Mar 2022 4.9% | Jun 2022 7.4% | Sep 2022 7.9% | Dec 2022 6.3% | Mar 2023 3.0% | Jun 2023 5.5% | Sep 2023 5.4% | Dec 2023 6.8% | Mar 2024 3.1% | Jun 2024 4.2% | Sep 2024 4.0% | Dec 2024 5.3% | Mar 2025 0.7% | Jun 2025 1.0% | Sep 2025 0.8% | Dec 2025 1.0% | Mar 2026 -2.3% | Jun 2026 2.1% | Sep 2026 —
- GCO: Dec 2021 3.9% | Mar 2022 7.2% | Jun 2022 0.7% | Sep 2022 0.8% | Dec 2022 2.3% | Mar 2023 4.5% | Jun 2023 -2.1% | Sep 2023 -3.6% | Dec 2023 1.0% | Mar 2024 3.5% | Jun 2024 -3.0% | Sep 2024 -1.0% | Dec 2024 1.0% | Mar 2025 4.7% | Jun 2025 -2.7% | Sep 2025 -1.4% | Dec 2025 0.8% | Mar 2026 5.2% | Jun 2026 -1.4% | Sep 2026 —
- SHOE: Dec 2021 11% | Mar 2022 4.8% | Jun 2022 5.8% | Sep 2022 5.9% | Dec 2022 6.1% | Mar 2023 3.8% | Jun 2023 2.8% | Sep 2023 3.1% | Dec 2023 3.3% | Mar 2024 2.3% | Jun 2024 2.5% | Sep 2024 3.3% | Dec 2024 2.6% | Mar 2025 1.5% | Jun 2025 1.2% | Sep 2025 2.6% | Dec 2025 1.8% | Mar 2026 1.1% | Jun 2026 -0.6% | Sep 2026 —
- LE: Dec 2021 2.4% | Mar 2022 2.3% | Jun 2022 0.5% | Sep 2022 0.7% | Dec 2022 0.3% | Mar 2023 1.7% | Jun 2023 1.2% | Sep 2023 0.7% | Dec 2023 -13% | Mar 2024 1.2% | Jun 2024 0.3% | Sep 2024 0.4% | Dec 2024 1.5% | Mar 2025 6.8% | Jun 2025 -0.4% | Sep 2025 0.7% | Dec 2025 2.9% | Mar 2026 4.9% | Jun 2026 -7.2% | Sep 2026 —
- ZUMZ: Dec 2021 5.2% | Mar 2022 7.0% | Jun 2022 0.1% | Sep 2022 0.7% | Dec 2022 1.6% | Mar 2023 2.4% | Jun 2023 -3.6% | Sep 2023 -1.8% | Dec 2023 0.0% | Mar 2024 -5.8% | Jun 2024 -3.7% | Sep 2024 -0.1% | Dec 2024 0.5% | Mar 2025 4.0% | Jun 2025 -4.2% | Sep 2025 0.0% | Dec 2025 2.5% | Mar 2026 5.2% | Jun 2026 -3.3% | Sep 2026 —
- JILL: Dec 2021 5.4% | Mar 2022 2.3% | Jun 2022 7.2% | Sep 2022 8.3% | Dec 2022 5.7% | Mar 2023 2.4% | Jun 2023 8.3% | Sep 2023 8.8% | Dec 2023 6.9% | Mar 2024 3.4% | Jun 2024 10% | Sep 2024 8.1% | Dec 2024 6.5% | Mar 2025 1.8% | Jun 2025 6.4% | Sep 2025 5.7% | Dec 2025 4.8% | Mar 2026 -0.1% | Jun 2026 2.8% | Sep 2026 —
- CURV: Dec 2021 12% | Mar 2022 4.8% | Jun 2022 11% | Sep 2022 12% | Dec 2022 6.5% | Mar 2023 0.9% | Jun 2023 9.8% | Sep 2023 7.6% | Dec 2023 2.6% | Mar 2024 1.6% | Jun 2024 10% | Sep 2024 8.2% | Dec 2024 2.9% | Mar 2025 1.5% | Jun 2025 6.9% | Sep 2025 4.7% | Dec 2025 0.1% | Mar 2026 -2.6% | Jun 2026 4.7% | Sep 2026 —
- DLTH: Dec 2021 1.2% | Mar 2022 5.9% | Jun 2022 -0.2% | Sep 2022 1.0% | Dec 2022 -1.9% | Mar 2023 2.6% | Jun 2023 -1.1% | Sep 2023 -0.4% | Dec 2023 -3.1% | Mar 2024 2.2% | Jun 2024 -2.3% | Sep 2024 -0.4% | Dec 2024 -6.2% | Mar 2025 -1.2% | Jun 2025 -3.6% | Sep 2025 0.7% | Dec 2025 -2.9% | Mar 2026 2.8% | Jun 2026 -3.1% | Sep 2026 —
- TLYS: Dec 2021 7.6% | Mar 2022 4.7% | Jun 2022 0.3% | Sep 2022 1.4% | Dec 2022 1.6% | Mar 2023 -0.4% | Jun 2023 -4.8% | Sep 2023 -0.7% | Dec 2023 -0.7% | Mar 2024 -2.5% | Jun 2024 -6.4% | Sep 2024 -0.3% | Dec 2024 -4.5% | Mar 2025 -5.0% | Jun 2025 -8.8% | Sep 2025 1.1% | Dec 2025 -0.8% | Mar 2026 1.1% | Jun 2026 -3.8% | Sep 2026 —
- RENT: Dec 2021 -13% | Mar 2022 -9.1% | Jun 2022 -11% | Sep 2022 -9.0% | Dec 2022 -7.7% | Mar 2023 -5.4% | Jun 2023 -7.1% | Sep 2023 -6.2% | Dec 2023 -8.2% | Mar 2024 -7.6% | Jun 2024 -6.9% | Sep 2024 -4.2% | Dec 2024 -6.2% | Mar 2025 -3.6% | Jun 2025 -10% | Sep 2025 -11% | Dec 2025 -9.0% | Mar 2026 -0.9% | Jun 2026 -13% | Sep 2026 —
- AKA: Dec 2021 1.4% | Mar 2022 0.6% | Jun 2022 -0.4% | Sep 2022 0.5% | Dec 2022 -41% | Mar 2023 -1.3% | Jun 2023 -0.2% | Sep 2023 -17% | Dec 2023 -1.9% | Mar 2024 -1.8% | Jun 2024 0.2% | Sep 2024 -0.7% | Dec 2024 -1.0% | Mar 2025 -1.9% | Jun 2025 -0.2% | Sep 2025 -0.5% | Dec 2025 -3.7% | Mar 2026 -1.4% | Jun 2026 — | Sep 2026 —

### 20-quarter ROCE change history
- TJX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.3 pp | Mar 2023 +0.6 pp | Jun 2023 +0.8 pp | Sep 2023 +1.2 pp | Dec 2023 +1.0 pp | Mar 2024 +2.3 pp | Jun 2024 +0.6 pp | Sep 2024 +0.1 pp | Dec 2024 +0.1 pp | Mar 2025 −0.4 pp | Jun 2025 −0.6 pp | Sep 2025 +0.4 pp | Dec 2025 +0.4 pp | Mar 2026 +1.7 pp | Jun 2026 +1.1 pp | Sep 2026 —
- ROST: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.1 pp | Mar 2023 +0.4 pp | Jun 2023 −0.3 pp | Sep 2023 +0.2 pp | Dec 2023 +0.9 pp | Mar 2024 +1.7 pp | Jun 2024 +1.4 pp | Sep 2024 +1.0 pp | Dec 2024 +0.5 pp | Mar 2025 −0.3 pp | Jun 2025 +0.1 pp | Sep 2025 −0.3 pp | Dec 2025 +0.2 pp | Mar 2026 +0.6 pp | Jun 2026 +1.6 pp | Sep 2026 —
- BURL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.8 pp | Mar 2023 +0.5 pp | Jun 2023 +0.7 pp | Sep 2023 +0.7 pp | Dec 2023 +0.9 pp | Mar 2024 +0.8 pp | Jun 2024 +0.6 pp | Sep 2024 +0.9 pp | Dec 2024 +0.6 pp | Mar 2025 0.0 pp | Jun 2025 +0.2 pp | Sep 2025 +0.2 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp | Jun 2026 0.0 pp | Sep 2026 —
- LULU: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.4 pp | Mar 2023 −9.1 pp | Jun 2023 +2.7 pp | Sep 2023 +0.3 pp | Dec 2023 −1.6 pp | Mar 2024 +10.9 pp | Jun 2024 −1.4 pp | Sep 2024 −0.6 pp | Dec 2024 +2.1 pp | Mar 2025 −0.5 pp | Jun 2025 −1.1 pp | Sep 2025 −1.6 pp | Dec 2025 −2.3 pp | Mar 2026 −5.4 pp | Jun 2026 −3.4 pp | Sep 2026 —
- GAP: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.5 pp | Mar 2023 −0.5 pp | Jun 2023 +2.0 pp | Sep 2023 +1.6 pp | Dec 2023 +0.9 pp | Mar 2024 +3.1 pp | Jun 2024 +2.6 pp | Sep 2024 +2.3 pp | Dec 2024 +1.3 pp | Mar 2025 +0.4 pp | Jun 2025 +0.6 pp | Sep 2025 −0.2 pp | Dec 2025 −0.5 pp | Mar 2026 −0.6 pp | Jun 2026 +1.9 pp | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −2.5 pp | Sep 2023 −2.5 pp | Dec 2023 −3.7 pp | Mar 2024 +8.5 pp | Jun 2024 −0.1 pp | Sep 2024 +1.1 pp | Dec 2024 +0.8 pp | Mar 2025 +0.2 pp | Jun 2025 −0.3 pp | Sep 2025 −0.8 pp | Dec 2025 +0.9 pp | Mar 2026 −1.8 pp | Jun 2026 +1.6 pp | Sep 2026 —
- URBN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −2.2 pp | Mar 2023 −0.7 pp | Jun 2023 +0.9 pp | Sep 2023 +1.5 pp | Dec 2023 +1.7 pp | Mar 2024 +0.6 pp | Jun 2024 −0.1 pp | Sep 2024 0.0 pp | Dec 2024 +0.2 pp | Mar 2025 +1.9 pp | Jun 2025 +1.4 pp | Sep 2025 +0.5 pp | Dec 2025 +0.1 pp | Mar 2026 +0.5 pp | Jun 2026 0.0 pp | Sep 2026 —
- BOOT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −4.9 pp | Mar 2023 — | Jun 2023 −0.1 pp | Sep 2023 −0.6 pp | Dec 2023 −1.5 pp | Mar 2024 — | Jun 2024 −2.5 pp | Sep 2024 −1.5 pp | Dec 2024 +0.5 pp | Mar 2025 +0.3 pp | Jun 2025 +0.6 pp | Sep 2025 +0.5 pp | Dec 2025 −0.4 pp | Mar 2026 −0.2 pp | Jun 2026 +0.3 pp | Sep 2026 —
- ANF: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −2.4 pp | Mar 2023 +0.1 pp | Jun 2023 +2.4 pp | Sep 2023 +5.0 pp | Dec 2023 +6.7 pp | Mar 2024 +7.0 pp | Jun 2024 +4.9 pp | Sep 2024 +4.2 pp | Dec 2024 +1.5 pp | Mar 2025 +0.6 pp | Jun 2025 −1.9 pp | Sep 2025 +0.6 pp | Dec 2025 −2.1 pp | Mar 2026 −2.1 pp | Jun 2026 −1.0 pp | Sep 2026 —
- AEO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −4.2 pp | Mar 2023 −1.1 pp | Jun 2023 +1.0 pp | Sep 2023 +0.5 pp | Dec 2023 +3.5 pp | Mar 2024 +9.6 pp | Jun 2024 +3.5 pp | Sep 2024 +4.7 pp | Dec 2024 +0.4 pp | Mar 2025 −5.9 pp | Jun 2025 −45.0 pp | Sep 2025 −5.1 pp | Dec 2025 −2.4 pp | Mar 2026 +2.3 pp | Jun 2026 +3.9 pp | Sep 2026 —
- BKE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.1 pp | Mar 2023 +0.5 pp | Jun 2023 −2.8 pp | Sep 2023 −1.1 pp | Dec 2023 −1.9 pp | Mar 2024 −4.1 pp | Jun 2024 −2.6 pp | Sep 2024 −2.1 pp | Dec 2024 −2.1 pp | Mar 2025 −1.0 pp | Jun 2025 −0.3 pp | Sep 2025 +0.4 pp | Dec 2025 +0.2 pp | Mar 2026 −0.3 pp | Jun 2026 +1.5 pp | Sep 2026 —
- CRI: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.9 pp | Mar 2023 — | Jun 2023 −1.5 pp | Sep 2023 −1.3 pp | Dec 2023 +3.3 pp | Mar 2024 — | Jun 2024 −0.8 pp | Sep 2024 +2.1 pp | Dec 2024 −2.8 pp | Mar 2025 −1.5 pp | Jun 2025 −2.0 pp | Sep 2025 −2.6 pp | Dec 2025 — | Mar 2026 +2.9 pp | Jun 2026 +1.2 pp | Sep 2026 +5.4 pp
- CTRN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +5.7 pp | Mar 2023 +16.5 pp | Jun 2023 −14.9 pp | Sep 2023 −1.3 pp | Dec 2023 −11.2 pp | Mar 2024 −1.1 pp | Jun 2024 +0.6 pp | Sep 2024 −5.0 pp | Dec 2024 −1.1 pp | Mar 2025 −0.7 pp | Jun 2025 +2.2 pp | Sep 2025 +4.9 pp | Dec 2025 +0.2 pp | Mar 2026 +1.9 pp | Jun 2026 +2.3 pp | Sep 2026 —
- SFIX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −8.7 pp | Mar 2023 −7.3 pp | Jun 2023 +9.4 pp | Sep 2023 +13.2 pp | Dec 2023 +1.8 pp | Mar 2024 +2.0 pp | Jun 2024 −2.6 pp | Sep 2024 −7.3 pp | Dec 2024 +4.4 pp | Mar 2025 +7.4 pp | Jun 2025 +3.7 pp | Sep 2025 +8.7 pp | Dec 2025 −0.3 pp | Mar 2026 +1.3 pp | Jun 2026 +1.8 pp | Sep 2026 —
- CAL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −2.4 pp | Mar 2023 −1.9 pp | Jun 2023 −1.9 pp | Sep 2023 −2.5 pp | Dec 2023 +0.5 pp | Mar 2024 +0.1 pp | Jun 2024 −1.3 pp | Sep 2024 −1.4 pp | Dec 2024 −1.5 pp | Mar 2025 −2.4 pp | Jun 2025 −3.2 pp | Sep 2025 −3.2 pp | Dec 2025 −4.3 pp | Mar 2026 −3.0 pp | Jun 2026 +1.1 pp | Sep 2026 —
- GCO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.6 pp | Mar 2023 −2.7 pp | Jun 2023 −2.8 pp | Sep 2023 −4.4 pp | Dec 2023 −1.3 pp | Mar 2024 −1.0 pp | Jun 2024 −0.9 pp | Sep 2024 +2.6 pp | Dec 2024 0.0 pp | Mar 2025 +1.2 pp | Jun 2025 +0.3 pp | Sep 2025 −0.4 pp | Dec 2025 −0.2 pp | Mar 2026 +0.5 pp | Jun 2026 +1.3 pp | Sep 2026 —
- SHOE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −5.0 pp | Mar 2023 −1.0 pp | Jun 2023 −3.0 pp | Sep 2023 −2.8 pp | Dec 2023 −2.8 pp | Mar 2024 −1.5 pp | Jun 2024 −0.3 pp | Sep 2024 +0.2 pp | Dec 2024 −0.7 pp | Mar 2025 −0.8 pp | Jun 2025 −1.3 pp | Sep 2025 −0.7 pp | Dec 2025 −0.8 pp | Mar 2026 −0.4 pp | Jun 2026 −1.8 pp | Sep 2026 —
- LE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −2.1 pp | Mar 2023 −0.6 pp | Jun 2023 +0.7 pp | Sep 2023 0.0 pp | Dec 2023 −13.7 pp | Mar 2024 −0.5 pp | Jun 2024 −0.9 pp | Sep 2024 −0.3 pp | Dec 2024 +14.9 pp | Mar 2025 +5.6 pp | Jun 2025 −0.7 pp | Sep 2025 +0.3 pp | Dec 2025 +1.4 pp | Mar 2026 −1.9 pp | Jun 2026 −6.8 pp | Sep 2026 —
- ZUMZ: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.6 pp | Mar 2023 −4.6 pp | Jun 2023 −3.7 pp | Sep 2023 −2.5 pp | Dec 2023 −1.6 pp | Mar 2024 −8.2 pp | Jun 2024 −0.1 pp | Sep 2024 +1.7 pp | Dec 2024 +0.5 pp | Mar 2025 +9.8 pp | Jun 2025 −0.5 pp | Sep 2025 +0.1 pp | Dec 2025 +2.0 pp | Mar 2026 +1.2 pp | Jun 2026 +0.9 pp | Sep 2026 —
- JILL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.3 pp | Mar 2023 +0.1 pp | Jun 2023 +1.1 pp | Sep 2023 +0.5 pp | Dec 2023 +1.2 pp | Mar 2024 +1.0 pp | Jun 2024 +1.7 pp | Sep 2024 −0.7 pp | Dec 2024 −0.4 pp | Mar 2025 −1.6 pp | Jun 2025 −3.6 pp | Sep 2025 −2.4 pp | Dec 2025 −1.7 pp | Mar 2026 −1.9 pp | Jun 2026 −3.6 pp | Sep 2026 —
- CURV: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −5.5 pp | Mar 2023 −3.9 pp | Jun 2023 −1.6 pp | Sep 2023 −3.9 pp | Dec 2023 −3.9 pp | Mar 2024 +0.7 pp | Jun 2024 +0.5 pp | Sep 2024 +0.6 pp | Dec 2024 +0.3 pp | Mar 2025 −0.1 pp | Jun 2025 −3.4 pp | Sep 2025 −3.5 pp | Dec 2025 −2.8 pp | Mar 2026 −4.1 pp | Jun 2026 −2.2 pp | Sep 2026 —
- DLTH: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.1 pp | Mar 2023 −3.3 pp | Jun 2023 −0.9 pp | Sep 2023 −1.4 pp | Dec 2023 −1.2 pp | Mar 2024 −0.4 pp | Jun 2024 −1.2 pp | Sep 2024 0.0 pp | Dec 2024 −3.1 pp | Mar 2025 −3.4 pp | Jun 2025 −1.3 pp | Sep 2025 +1.1 pp | Dec 2025 +3.3 pp | Mar 2026 +4.0 pp | Jun 2026 +0.5 pp | Sep 2026 —
- TLYS: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −6.0 pp | Mar 2023 −5.1 pp | Jun 2023 −5.1 pp | Sep 2023 −2.1 pp | Dec 2023 −2.3 pp | Mar 2024 −2.1 pp | Jun 2024 −1.6 pp | Sep 2024 +0.4 pp | Dec 2024 −3.8 pp | Mar 2025 −2.5 pp | Jun 2025 −2.4 pp | Sep 2025 +1.4 pp | Dec 2025 +3.7 pp | Mar 2026 +6.1 pp | Jun 2026 +5.0 pp | Sep 2026 —
- RENT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +5.1 pp | Mar 2023 +3.7 pp | Jun 2023 +4.1 pp | Sep 2023 +2.8 pp | Dec 2023 −0.5 pp | Mar 2024 −2.2 pp | Jun 2024 +0.2 pp | Sep 2024 +2.0 pp | Dec 2024 +2.0 pp | Mar 2025 +4.0 pp | Jun 2025 −3.2 pp | Sep 2025 −7.0 pp | Dec 2025 −2.8 pp | Mar 2026 +2.7 pp | Jun 2026 −2.5 pp | Sep 2026 —
- AKA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −41.9 pp | Mar 2023 −1.9 pp | Jun 2023 +0.2 pp | Sep 2023 −17.0 pp | Dec 2023 +38.6 pp | Mar 2024 −0.5 pp | Jun 2024 +0.4 pp | Sep 2024 +15.8 pp | Dec 2024 +0.9 pp | Mar 2025 −0.1 pp | Jun 2025 −0.4 pp | Sep 2025 +0.2 pp | Dec 2025 −2.7 pp | Mar 2026 +0.5 pp | Jun 2026 — | Sep 2026 —

## Valuation Against Growth & Quality

What the numbers say: Abercrombie & Fitch Co. has the lowest comparable PEG at 0.78×, 17.9% below lululemon athletica inc.. Only 11 of 25 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Abercrombie & Fitch Co. · 0.78× | 17.9% versus #2 · lululemon athletica inc. | 0/8 recent comparable periods | 11/25 companies · 66 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Abercrombie & Fitch Co. (ANF): 0.8
2. lululemon athletica inc. (LULU): 1.0
3. The Gap, Inc. (GAP): 1.0
4. The Buckle, Inc. (BKE): 1.1
5. Victoria's Secret & Co. (VSXY): 1.3

### P/E — lowest P/E
1. Rent the Runway, Inc. (RENT): 0.7
2. Lands' End, Inc. (LE): 1.0
3. Carter's, Inc. (CRI): 7.6
4. Abercrombie & Fitch Co. (ANF): 8.1
5. J.Jill, Inc. (JILL): 9.1

### 20-quarter PEG history
- TJX: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.3 | Sep 2023 1.2 | Dec 2023 1.1 | Mar 2024 0.9 | Jun 2024 1.0 | Sep 2024 1.3 | Dec 2024 1.3 | Mar 2025 2.8 | Jun 2025 5.6 | Sep 2025 4.8 | Dec 2025 4.7 | Mar 2026 2.1 | Jun 2026 1.4 | Sep 2026 —
- ROST: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 2.0 | Dec 2023 1.0 | Mar 2024 1.0 | Jun 2024 0.7 | Sep 2024 0.7 | Dec 2024 0.9 | Mar 2025 1.7 | Jun 2025 3.3 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 2.4 | Sep 2026 —
- BURL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 0.8 | Jun 2024 0.5 | Sep 2024 — | Dec 2024 — | Mar 2025 0.8 | Jun 2025 0.8 | Sep 2025 1.2 | Dec 2025 1.6 | Mar 2026 1.4 | Jun 2026 1.7 | Sep 2026 —
- LULU: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 1.4 | Jun 2025 1.0 | Sep 2025 1.0 | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- GAP: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 0.4 | Sep 2025 0.5 | Dec 2025 — | Mar 2026 — | Jun 2026 1.0 | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.4 | Jun 2025 0.4 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 1.3 | Sep 2026 —
- URBN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 2.7 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 0.4 | Dec 2024 0.5 | Mar 2025 0.3 | Jun 2025 0.2 | Sep 2025 0.3 | Dec 2025 0.2 | Mar 2026 0.8 | Jun 2026 1.5 | Sep 2026 —
- BOOT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 2.4 | Jun 2025 1.1 | Sep 2025 0.7 | Dec 2025 1.0 | Mar 2026 0.8 | Jun 2026 — | Sep 2026 —
- ANF: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 0.3 | Sep 2025 0.8 | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- AEO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 0.9 | Dec 2023 — | Mar 2024 0.6 | Jun 2024 — | Sep 2024 0.8 | Dec 2024 3.1 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- BKE: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.7 | Jun 2026 1.1 | Sep 2026 —
- CAL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 0.7 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- JILL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.2 | Sep 2024 0.3 | Dec 2024 0.3 | Mar 2025 2.0 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —

### 20-quarter P/E history
- TJX: Dec 2021 29.9 | Mar 2022 26.4 | Jun 2022 22.3 | Sep 2022 21.8 | Dec 2022 25.3 | Mar 2023 27.6 | Jun 2023 24.3 | Sep 2023 25.5 | Dec 2023 24.7 | Mar 2024 25.3 | Jun 2024 23.6 | Sep 2024 27.3 | Dec 2024 26.4 | Mar 2025 29.3 | Jun 2025 30.4 | Sep 2025 28.7 | Dec 2025 30.9 | Mar 2026 30.8 | Jun 2026 30.5 | Sep 2026 —
- ROST: Dec 2021 25.2 | Mar 2022 19.7 | Jun 2022 22.2 | Sep 2022 19.3 | Dec 2022 23.1 | Mar 2023 27.3 | Jun 2023 23.7 | Sep 2023 24.3 | Dec 2023 22.3 | Mar 2024 25.8 | Jun 2024 22.1 | Sep 2024 22.6 | Dec 2024 22.1 | Mar 2025 23.8 | Jun 2025 22.2 | Sep 2025 21.8 | Dec 2025 24.8 | Mar 2026 28.2 | Jun 2026 32.0 | Sep 2026 —
- BURL: Dec 2021 42.3 | Mar 2022 38.4 | Jun 2022 54.4 | Sep 2022 58.3 | Dec 2022 56.2 | Mar 2023 64.9 | Jun 2023 51.1 | Sep 2023 43.8 | Dec 2023 25.6 | Mar 2024 37.6 | Jun 2024 31.1 | Sep 2024 37.6 | Dec 2024 33.3 | Mar 2025 36.4 | Jun 2025 29.0 | Sep 2025 32.3 | Dec 2025 31.5 | Mar 2026 31.1 | Jun 2026 32.7 | Sep 2026 —
- LULU: Dec 2021 70.0 | Mar 2022 42.6 | Jun 2022 42.7 | Sep 2022 34.5 | Dec 2022 34.4 | Mar 2023 44.0 | Jun 2023 48.6 | Sep 2023 45.6 | Dec 2023 46.8 | Mar 2024 39.2 | Jun 2024 29.3 | Sep 2024 19.6 | Dec 2024 23.1 | Mar 2025 28.3 | Jun 2025 18.8 | Sep 2025 13.1 | Dec 2025 11.8 | Mar 2026 13.2 | Jun 2026 10.8 | Sep 2026 —
- GAP: Dec 2021 17.3 | Mar 2022 26.5 | Jun 2022 — | Sep 2022 — | Dec 2022 70.3 | Mar 2023 — | Jun 2023 — | Sep 2023 35.7 | Dec 2023 127.7 | Mar 2024 14.8 | Jun 2024 12.0 | Sep 2024 10.7 | Dec 2024 9.6 | Mar 2025 10.9 | Jun 2025 10.0 | Sep 2025 8.1 | Dec 2025 10.2 | Mar 2026 13.1 | Jun 2026 9.7 | Sep 2026 —
- VSXY: Dec 2021 — | Mar 2022 — | Jun 2022 7.6 | Sep 2022 7.0 | Dec 2022 8.1 | Mar 2023 9.4 | Jun 2023 9.6 | Sep 2023 8.5 | Dec 2023 15.8 | Mar 2024 19.4 | Jun 2024 13.5 | Sep 2024 9.4 | Dec 2024 — | Mar 2025 17.7 | Jun 2025 20.2 | Sep 2025 10.4 | Dec 2025 — | Mar 2026 28.2 | Jun 2026 28.3 | Sep 2026 —
- URBN: Dec 2021 10.6 | Mar 2022 9.2 | Jun 2022 8.2 | Sep 2022 9.0 | Dec 2022 13.4 | Mar 2023 16.1 | Jun 2023 14.0 | Sep 2023 15.2 | Dec 2023 12.0 | Mar 2024 12.5 | Jun 2024 12.5 | Sep 2024 14.1 | Dec 2024 10.3 | Mar 2025 13.0 | Jun 2025 11.0 | Sep 2025 14.7 | Dec 2025 12.2 | Mar 2026 14.0 | Jun 2026 13.5 | Sep 2026 —
- BOOT: Dec 2021 20.4 | Mar 2022 14.8 | Jun 2022 12.3 | Sep 2022 9.4 | Dec 2022 11.0 | Mar 2023 — | Jun 2023 13.6 | Sep 2023 15.4 | Dec 2023 14.2 | Mar 2024 19.8 | Jun 2024 26.1 | Sep 2024 33.2 | Dec 2024 28.0 | Mar 2025 17.7 | Jun 2025 24.4 | Sep 2025 25.0 | Dec 2025 26.1 | Mar 2026 20.3 | Jun 2026 22.5 | Sep 2026 —
- ANF: Dec 2021 8.6 | Mar 2022 8.8 | Jun 2022 8.5 | Sep 2022 12.1 | Dec 2022 30.4 | Mar 2023 514.7 | Jun 2023 32.5 | Sep 2023 17.9 | Dec 2023 14.5 | Mar 2024 17.6 | Jun 2024 15.5 | Sep 2024 13.5 | Dec 2024 13.0 | Mar 2025 11.2 | Jun 2025 7.0 | Sep 2025 8.6 | Dec 2025 7.0 | Mar 2026 9.3 | Jun 2026 8.1 | Sep 2026 —
- AEO: Dec 2021 13.2 | Mar 2022 11.0 | Jun 2022 8.7 | Sep 2022 13.2 | Dec 2022 19.1 | Mar 2023 24.5 | Jun 2023 24.4 | Sep 2023 13.4 | Dec 2023 15.7 | Mar 2024 24.2 | Jun 2024 21.9 | Sep 2024 16.1 | Dec 2024 16.6 | Mar 2025 9.6 | Jun 2025 11.3 | Sep 2025 10.3 | Dec 2025 14.4 | Mar 2026 21.4 | Jun 2026 10.5 | Sep 2026 —
- BKE: Dec 2021 8.7 | Mar 2022 7.1 | Jun 2022 6.1 | Sep 2022 5.9 | Dec 2022 8.0 | Mar 2023 8.5 | Jun 2023 6.9 | Sep 2023 7.6 | Dec 2023 7.2 | Mar 2024 8.6 | Jun 2024 9.0 | Sep 2024 9.6 | Dec 2024 10.7 | Mar 2025 12.2 | Jun 2025 9.2 | Sep 2025 12.3 | Dec 2025 13.4 | Mar 2026 11.4 | Jun 2026 12.7 | Sep 2026 —
- CRI: Dec 2021 12.8 | Mar 2022 13.0 | Jun 2022 11.9 | Sep 2022 10.4 | Dec 2022 10.0 | Mar 2023 — | Jun 2023 12.7 | Sep 2023 13.5 | Dec 2023 12.0 | Mar 2024 13.3 | Jun 2024 9.6 | Sep 2024 10.6 | Dec 2024 10.6 | Mar 2025 9.0 | Jun 2025 8.0 | Sep 2025 11.8 | Dec 2025 — | Mar 2026 13.1 | Jun 2026 14.5 | Sep 2026 7.6
- CTRN: Dec 2021 10.4 | Mar 2022 6.9 | Jun 2022 3.9 | Sep 2022 4.5 | Dec 2022 3.0 | Mar 2023 4.5 | Jun 2023 7.4 | Sep 2023 9.4 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 49.3 | Dec 2025 60.7 | Mar 2026 68.5 | Jun 2026 34.0 | Sep 2026 —
- CAL: Dec 2021 10.3 | Mar 2022 6.5 | Jun 2022 4.9 | Sep 2022 4.9 | Dec 2022 5.9 | Mar 2023 5.1 | Jun 2023 5.0 | Sep 2023 6.6 | Dec 2023 5.8 | Mar 2024 6.7 | Jun 2024 7.8 | Sep 2024 7.7 | Dec 2024 6.6 | Mar 2025 5.9 | Jun 2025 6.6 | Sep 2025 7.5 | Dec 2025 17.5 | Mar 2026 — | Jun 2026 — | Sep 2026 —
- GCO: Dec 2021 6.2 | Mar 2022 8.0 | Jun 2022 8.0 | Sep 2022 7.4 | Dec 2022 6.8 | Mar 2023 8.4 | Jun 2023 8.9 | Sep 2023 55.5 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 23.1 | Jun 2026 20.1 | Sep 2026 —
- SHOE: Dec 2021 6.8 | Mar 2022 6.1 | Jun 2022 6.2 | Sep 2022 5.0 | Dec 2022 6.1 | Mar 2023 7.0 | Jun 2023 6.4 | Sep 2023 8.1 | Dec 2023 7.9 | Mar 2024 9.8 | Jun 2024 12.8 | Sep 2024 13.6 | Dec 2024 12.6 | Mar 2025 10.1 | Jun 2025 7.6 | Sep 2025 8.8 | Dec 2025 8.7 | Mar 2026 10.0 | Jun 2026 13.7 | Sep 2026 —
- LE: Dec 2021 19.0 | Mar 2022 18.3 | Jun 2022 16.7 | Sep 2022 44.0 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 62.3 | Jun 2025 66.0 | Sep 2025 64.1 | Dec 2025 42.5 | Mar 2026 98.7 | Jun 2026 1.0 | Sep 2026 —
- ZUMZ: Dec 2021 8.3 | Mar 2022 8.9 | Jun 2022 9.5 | Sep 2022 8.4 | Dec 2022 10.3 | Mar 2023 23.8 | Jun 2023 116.6 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 1,205.0 | Sep 2025 — | Dec 2025 45.1 | Mar 2026 31.6 | Jun 2026 29.4 | Sep 2026 —
- JILL: Dec 2021 — | Mar 2022 — | Jun 2022 202.0 | Sep 2022 4.8 | Dec 2022 6.3 | Mar 2023 8.8 | Jun 2023 10.9 | Sep 2023 10.9 | Dec 2023 12.7 | Mar 2024 9.5 | Jun 2024 8.2 | Sep 2024 12.3 | Dec 2024 8.5 | Mar 2025 10.5 | Jun 2025 7.1 | Sep 2025 6.4 | Dec 2025 6.9 | Mar 2026 8.6 | Jun 2026 9.1 | Sep 2026 —
- CURV: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 15.5 | Mar 2023 7.7 | Jun 2023 9.5 | Sep 2023 13.6 | Dec 2023 21.6 | Mar 2024 45.2 | Jun 2024 48.2 | Sep 2024 59.4 | Dec 2024 24.0 | Mar 2025 47.1 | Jun 2025 64.6 | Sep 2025 62.5 | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- DLTH: Dec 2021 13.7 | Mar 2022 16.3 | Jun 2022 14.4 | Sep 2022 14.8 | Dec 2022 23.2 | Mar 2023 95.6 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- TLYS: Dec 2021 7.1 | Mar 2022 6.2 | Jun 2022 5.1 | Sep 2022 6.3 | Dec 2022 12.5 | Mar 2023 27.2 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- RENT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 3.8 | Jun 2026 0.7 | Sep 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.

## Every company
- The TJX Companies, Inc. (TJX) — market value ₹1.7 L Cr; latest fundamentals Jun 2026
- Ross Stores, Inc. (ROST) — market value ₹80.5K Cr; latest fundamentals Jun 2026
- Burlington Stores, Inc. (BURL) — market value ₹22.9K Cr; latest fundamentals Jun 2026
- lululemon athletica inc. (LULU) — market value ₹14.0K Cr; latest fundamentals Jun 2026
- The Gap, Inc. (GAP) — market value ₹7.4K Cr; latest fundamentals Jun 2026
- Victoria's Secret & Co. (VSXY) — market value ₹7.1K Cr; latest fundamentals Jun 2026
- Urban Outfitters, Inc. (URBN) — market value ₹6.8K Cr; latest fundamentals Jun 2026
- Boot Barn Holdings, Inc. (BOOT) — market value ₹4.9K Cr; latest fundamentals Jun 2026
- Abercrombie & Fitch Co. (ANF) — market value ₹4.9K Cr; latest fundamentals Jun 2026
- American Eagle Outfitters, Inc. (AEO) — market value ₹3.0K Cr; latest fundamentals Jun 2026
- The Buckle, Inc. (BKE) — market value ₹2.3K Cr; latest fundamentals Jun 2026
- Carter's, Inc. (CRI) — market value ₹1.5K Cr; latest fundamentals Sep 2026
- Citi Trends, Inc. (CTRN) — market value ₹589 Cr; latest fundamentals Jun 2026
- Stitch Fix, Inc. (SFIX) — market value ₹567 Cr; latest fundamentals Jun 2026
- Caleres, Inc. (CAL) — market value ₹479 Cr; latest fundamentals Jun 2026
- Genesco Inc. (GCO) — market value ₹439 Cr; latest fundamentals Jun 2026
- Shoe Station Group Inc. (SHOE) — market value ₹422 Cr; latest fundamentals Jun 2026
- Lands' End, Inc. (LE) — market value ₹395 Cr; latest fundamentals Jun 2026
- Zumiez Inc. (ZUMZ) — market value ₹336 Cr; latest fundamentals Jun 2026
- J.Jill, Inc. (JILL) — market value ₹287 Cr; latest fundamentals Jun 2026
- Torrid Holdings Inc. (CURV) — market value ₹264 Cr; latest fundamentals Jun 2026
- Duluth Holdings Inc. (DLTH) — market value ₹159 Cr; latest fundamentals Jun 2026
- Tilly's, Inc. (TLYS) — market value ₹130 Cr; latest fundamentals Jun 2026
- Rent the Runway, Inc. (RENT) — market value ₹123 Cr; latest fundamentals Jun 2026
- a.k.a. Brands Holding Corp. (AKA) — market value ₹120 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Sep 2026; prices through 2026-08-04.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Apparel Retail sector outperforming S&P 500?

Apparel Retail has outperformed S&P 500 by 20.7% over 52 weeks and 9% over 13 weeks. 12 of 25 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 25 beat the sector itself.

### Which Apparel Retail company is largest by revenue?

The TJX Companies, Inc. leads with revenue of $61,584 million, based on 23 of 25 comparable companies through Jun 2026.

### Which Apparel Retail company is growing fastest?

Rent the Runway, Inc. has the fastest current revenue growth at 16.6%, across 23 of 25 comparable companies.

### Which Apparel Retail company has the strongest 4-Factor Sector Score?

Victoria's Secret & Co. ranks first at 65.8/100 with 81.1% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Apparel Retail company has the lowest comparable PEG?

Abercrombie & Fitch Co. has the lowest comparable PEG at 0.78, among 11 of 25 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Apparel Retail comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Which Apparel Retail company is the biggest?

The TJX Companies, Inc. is the largest, with trailing-twelve-month revenue of $61,584 million, ahead of Ross Stores, Inc. at $23,775 million. That covers 23 of 25 companies with comparable reporting through Jun 2026.

### Which Apparel Retail company has the best profit margins?

The Buckle, Inc. has the highest operating margin at 20.6%, from 25 of 25 comparable companies. Tilly's, Inc. shows the biggest recent improvement, at +14.6 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Apparel Retail company makes the most profit?

The TJX Companies, Inc. earns the most, at $5,790 million of trailing-twelve-month net profit, from 23 of 25 comparable companies. Victoria's Secret & Co. has the fastest profit growth at 39.7%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Apparel Retail company earns the highest return on capital?

Ross Stores, Inc. leads on return on capital employed at 7.8%, across 25 of 25 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Apparel Retail stock is the cheapest?

On PEG — where a LOWER number is cheaper — Abercrombie & Fitch Co. screens cheapest at 0.78×. Only 11 of 25 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Apparel Retail sector beating the market?

Apparel Retail has outperformed S&P 500 by 20.7% over the last 52 weeks and 9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 12 of 25 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Apparel Retail stock has the strongest price momentum?

Victoria's Secret & Co. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Apparel Retail company scores highest for research priority?

Victoria's Secret & Co. scores 65.8 out of 100 with 81.1% evidence confidence, from 25.3 points on growth and earnings, 9.3 on capital efficiency, 11.2 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Apparel Retail companies does this comparison cover, and over what period?

It compares 25 listed companies over up to 20 reported quarters of fundamentals, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Apparel Retail sector?

The 25 Apparel Retail companies on this page carry $333,650 million of combined market value. The TJX Companies, Inc. is the largest at $174,046 million, about 52% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

### What is the Apparel Retail sector's P/E ratio?

The median price-to-earnings ratio across the 25 Apparel Retail companies on this page is 20.1×, measured on the 24 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

### How is the Apparel Retail sector performing?

12 of the 25 covered Apparel Retail companies are beating S&P 500 on Mansfield relative strength. The sector itself is 20.7% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

### How many Apparel Retail stocks are listed in the US?

This comparison covers 25 listed Apparel Retail companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.