In Q3, TJX experienced a boost in its gross margin, up 100 basis points year-over-year, due to reduced freight costs and favorable ocean rates, according to CFO John Klinger. However, it’s uncertain if this trend will persist in Q4, dependent on ocean freight providers’ capacity management. As of mid-November, ocean rates have declined significantly, driven by a seasonal demand lull and increased capacity, with Transpacific rates dropping over 20%. The Port of Los Angeles anticipates a decrease in volumes next month, reflecting broader trends across other ports.

Source: https://www.supplychaindive.com/news/tjx-low-ocean-freight-costs-q3-gains/806313/