Business & Tech
Framingham-Based TJX Makes 2023 Fortune 500 List
TJX is the only Framingham-based company on the list, though 16 others from Massachusetts landed in the top 500.
FRAMINGHAM, MA — TJX is Framingham's most noteworthy corporation, and on Monday, it was the only one named to the most recent Fortune 500 list.
This is the 69th edition of the Fortune 500 list, a ranking of companies by total annual revenue. The corporations on the list had combined revenues of $18 trillion in fiscal year 2022 and account for two-thirds of the gross domestic product, Fortune said in a news release. Profits, down 15 percent, fell for the second time in the last three years.
In total, 17 companies made the list and, although TJX is the only one located in Framingham, there are other MetroWest representatives.
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TJX was ranked at 87 in the list, third highest in the state behind General Electric at 52 and Liberty Mutual at 86.
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For the first time in the list’s history, more than 10 percent of Fortune 500 companies have female CEOs. This year’s list includes 52 Fortune 500 companies that are led by women, an all-time high, up from 44 last year.
Of the companies based in Massachusetts, only Vertex has a woman CEO: Reshma Kewalramani.
The number of companies led by women in this year’s Fortune 500 are a “slow, but real” sign of progress, Fortune Editor-in-Chief Alyson Shontoll said in her foreword in the June/July issue of the magazine.
“There are also more Black CEOs running Fortune 500s than ever before — but it’s shameful to say that there are still only eight,” Shontoll wrote.
The top 10 companies on the 2023 list are Walmart, Amazon.com, ExxonMobil, Apple, UnitedHealth Group, CVS Health — based in Woonsocket, RI — Berkshire Hathaway, Alphabet, McKeeson and Chevron.
Walmart held the top spot for the 11th consecutive year, generating $5.7 trillion cumulative revenue over that time. Amazon.com is at No. 2 for the fourth straight year with a 9 percent jump in revenue, eclipsing the $510 billion mark. At No. 3 with a 45 percent jump in revenue, ExxonMobil bumped Apple to No. 4.
But with $99.8 billion in profits, Apple was the most profitable company on the list for the eighth time in nine years.
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