I am studying the company TJX (TJ Maxx, Marshalls, Homegoods, ect...).

I need to,

1. How aggressively should TJX expand globally, and where, and when, to maximize the value of the company for shareholders?

2. Develop Projected Financial Statements that fully assess and evaluate the impact of the proposed strategy. This should include a projected income statement, balance sheet, and EPS/EBIT analysis.

I have here a current balance sheet and income statement from the companies 10 k form.

I am expecting growth more in the Eurpean market by 10%, Canada by 5%, and US by 15%.

I mainly need help on the second quesiton.

The TJX Companies, Inc.

CONSOLIDATED BALANCE SHEETS

		Fiscal Year Ended
Amounts in thousands except share amounts		January 30, 2016				January 31, 2015
ASSETS
Current assets:
Cash and cash equivalents		$	2,095,473			$	2,493,775
Short-term investments			352,313				282,623
Accounts receivable, net			238,072				213,824
Merchandise inventories			3,695,113				3,217,923
Prepaid expenses and other current assets			380,530				356,824
Federal, state, and foreign income taxes recoverable			11,059				12,475
Total current assets			6,772,560				6,577,444
Property at cost:
Land and buildings			1,013,247				888,580
Leasehold costs and improvements			2,943,191				2,780,932
Furniture, fixtures and equipment			5,112,229				4,671,029
Total property at cost			9,068,667				8,340,541
Less accumulated depreciation and amortization			4,931,092				4,472,176
Net property at cost			4,137,575				3,868,365
Non-current deferred income taxes, net			13,831				22,532
Other assets			231,720				210,539
Goodwill and tradenames, net of amortization			343,796				309,870
TOTAL ASSETS		$	11,499,482			$	10,988,750
LIABILITIES
Current liabilities:
Accounts payable		$	2,203,050			$	2,007,511
Accrued expenses and other current liabilities			2,069,659				1,796,122
Federal, state and foreign income taxes payable			129,521				126,001
Total current liabilities			4,402,230				3,929,634
Other long-term liabilities			881,021				888,137
Non-current deferred income taxes, net			285,102				282,885
Long-term debt			1,624,054				1,623,864
SHAREHOLDERS EQUITY
Preferred stock, authorized 5,000,000 shares, par value $1, no shares issued
Common stock, authorized 1,200,000,000 shares, par value $1, issued and outstanding 663,495,715 and 684,733,200, respectively			663,496				684,733
Additional paid-in capital
Accumulated other comprehensive income (loss)			(667,472	)			(554,385	)
Retained earnings			4,311,051				4,133,882
Total shareholders equity			4,307,075				4,264,230
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY		$	11,499,482			$	10,988,750

The accompanying notes are an integral part of the financial statements.

The TJX Companies, Inc.

CONSOLIDATED STATEMENTS OF INCOME

		Fiscal Year Ended
Amounts in thousands except per share amounts		January 30, 2016				January 31, 2015				February 1, 2014
Net sales		$	30,944,938			$	29,078,407			$	27,422,696
Cost of sales, including buying and occupancy costs			22,034,523				20,776,522				19,605,037
Selling, general and administrative expenses			5,205,715				4,695,384				4,467,089
Loss on early extinguishment of debt							16,830
Interest expense, net			46,400				39,787				31,081
Income before provision for income taxes			3,658,300				3,549,884				3,319,489
Provision for income taxes			1,380,642				1,334,756				1,182,093
Net income		$	2,277,658			$	2,215,128			$	2,137,396
Basic earnings per share:
Net income		$	3.38			$	3.20			$	3.00
Weighted average common shares basic			673,484				692,691				713,470
Diluted earnings per share:
Net income		$	3.33			$	3.15			$	2.94
Weighted average common shares diluted			683,251				703,545				726,376
Cash dividends declared per share		$	0.84			$	0.70			$	0.58

Stores in operation:
In the United States:
T.J. Maxx			1,156				1,119				1,079				1,036				983
Marshalls			1,007				975				942				904				884
Sierra Trading Post			8				6				4				4
HomeGoods			526				487				450				415				374
In Canada:
Winners			245				234				227				222				216
HomeSense			101				96				91				88				86
Marshalls			41				38				27				14				6
In Europe:
T.K. Maxx			456				407				371				343				332
HomeSense			39				33				28				24				24
In Australia:
Trade Secret			35
Total			3,614				3,395				3,219				3,050				2,905