TJX COMPANIES INC /DE/TJX
TJX COMPANIES INC /DE/ Segments Disclosure
Segment Information
TJX operates four segments. TJX defines its segments as those operations whose results the Chief Executive Officer, who is the Company’s chief operating decision maker (“CODM”), regularly reviews to analyze performance and allocate resources. In the United States, the Marmaxx segment operates TJ Maxx, Marshalls, tjmaxx.com and marshalls.com and the HomeGoods segment operates HomeGoods and Homesense. The TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX International segment operates TK Maxx, Homesense, tkmaxx.com, tkmaxx.de, and tkmaxx.at in Europe and TK Maxx in Australia. In addition to the Company’s four segments, Sierra operates retail stores and sierra.com in the U.S. The results of Sierra are included in the Marmaxx segment.
All of TJX’s stores, with the exception of HomeGoods and HomeSense/Homesense, sell family apparel and home fashions. HomeGoods and HomeSense/Homesense offer home fashions. The percentages of the Company’s consolidated revenues by major product category for the last three fiscal years are as follows:
| Fiscal 2026 | Fiscal 2025 | Fiscal 2024 | |||||||||
| Apparel: | |||||||||||
| Clothing including footwear | 44 | % | 44 | % | 47 | % | |||||
| Accessories including jewelry and beauty | 20 | 21 | 18 | ||||||||
| Home fashions | 36 | 35 | 35 | ||||||||
| Total | 100 | % | 100 | % | 100 | % | |||||
The CODM regularly reviews net sales by segment and segment profit or loss. There are no significant expense categories or amounts regularly provided to the CODM and included in reported segment profit or loss. As such, no significant expense categories are disclosed in the table below. The CODM evaluates the performance of the Company’s segments based on “segment profit or loss,” which it defines as pre-tax income or loss before general corporate expense, interest (income) expense, net and certain separately disclosed unusual or infrequent items. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. This measure of performance should not be considered an alternative to net income or cash flows from operating activities as an indicator of TJX’s performance or as a measure of liquidity.
Presented below is financial information with respect to TJX’s segments:
| Fiscal Year Ended | |||||||||||
| In millions | January 31, 2026 | February 1, 2025 | February 3, 2024 | ||||||||
| (53 weeks) | |||||||||||
| United States: | |||||||||||
| Marmaxx | |||||||||||
| Net sales | $ | 36,585 | $ | 34,604 | $ | 33,413 | |||||
Segment expenses(a) | 31,057 | 29,709 | 28,816 | ||||||||
| Segment profit | $ | 5,528 | $ | 4,895 | $ | 4,597 | |||||
| HomeGoods | |||||||||||
| Net sales | $ | 10,172 | $ | 9,386 | $ | 8,990 | |||||
Segment expenses(a) | 8,926 | 8,365 | 8,129 | ||||||||
| Segment profit | $ | 1,246 | $ | 1,021 | $ | 861 | |||||
| TJX Canada | |||||||||||
| Net sales | $ | 5,629 | $ | 5,189 | $ | 5,046 | |||||
Segment expenses(a) | 4,872 | 4,486 | 4,331 | ||||||||
| Segment profit | $ | 757 | $ | 703 | $ | 715 | |||||
| TJX International | |||||||||||
| Net sales | $ | 7,986 | $ | 7,181 | $ | 6,768 | |||||
Segment expenses(a) | 7,428 | 6,759 | 6,436 | ||||||||
| Segment profit | $ | 558 | $ | 422 | $ | 332 | |||||
| Total TJX | |||||||||||
| Net sales | $ | 60,372 | $ | 56,360 | $ | 54,217 | |||||
Segment expenses(a) | 52,283 | 49,319 | 47,712 | ||||||||
| Segment profit | $ | 8,089 | $ | 7,041 | $ | 6,505 | |||||
| General corporate expense | 911 | 739 | 708 | ||||||||
| Interest (income) expense, net | (121) | (181) | (170) | ||||||||
| Income before income taxes | $ | 7,299 | $ | 6,483 | $ | 5,967 | |||||
(a) Segment expenses for each reportable segment include cost of sales and selling, general and administrative expenses. Cost of sales includes buying and occupancy costs, cost of merchandise sold, and other expenses. Selling, general and administrative expenses include store payroll and benefit costs, communication costs, and other expenses. Refer to Note A - Basis of Presentation and Summary of Accounting Principles for more information on the classifications.
Segment information (continued):
| Fiscal Year Ended | |||||||||||
| In millions | January 31, 2026 | February 1, 2025 | February 3, 2024 | ||||||||
| Identifiable assets: | |||||||||||
| United States: | |||||||||||
| Marmaxx | $ | 15,789 | $ | 14,137 | $ | 12,993 | |||||
| HomeGoods | 4,307 | 4,037 | 3,828 | ||||||||
| TJX Canada | 2,485 | 2,128 | 2,083 | ||||||||
| TJX International | 4,916 | 4,243 | 4,154 | ||||||||
| Segment identifiable assets | $ | 27,497 | $ | 24,545 | $ | 23,058 | |||||
Corporate(a) | 8,270 | 7,204 | 6,689 | ||||||||
Total identifiable assets | $ | 35,767 | $ | 31,749 | $ | 29,747 | |||||
| Capital expenditures: | |||||||||||
| United States: | |||||||||||
| Marmaxx | $ | 1,261 | $ | 1,102 | $ | 950 | |||||
| HomeGoods | 311 | 400 | 345 | ||||||||
| TJX Canada | 146 | 151 | 157 | ||||||||
| TJX International | 239 | 265 | 270 | ||||||||
Total capital expenditures | $ | 1,957 | $ | 1,918 | $ | 1,722 | |||||
| Depreciation and amortization: | |||||||||||
| United States: | |||||||||||
| Marmaxx | $ | 695 | $ | 595 | $ | 525 | |||||
| HomeGoods | 229 | 210 | 182 | ||||||||
| TJX Canada | 103 | 90 | 76 | ||||||||
| TJX International | 216 | 205 | 177 | ||||||||
| Segment depreciation and amortization | $ | 1,243 | $ | 1,100 | $ | 960 | |||||
Corporate(b) | 4 | 4 | 4 | ||||||||
| Total depreciation and amortization | $ | 1,247 | $ | 1,104 | $ | 964 | |||||
(a)Corporate identifiable assets mainly include cash and trust assets from the Executive Savings Plan and in both fiscal 2026 and fiscal 2025 includes the equity method investments. Consolidated cash, including that held by foreign entities, is reported with Corporate assets for consistency with segment reporting in the U.S.
(b)Includes debt discount accretion and debt expense amortization.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 31, 2026 | Showing above |
| 2025 | Apr 2, 2025 | |
| 2024 | Apr 3, 2024 | |
| 2023 | Mar 29, 2023 | |
| 2022 | Mar 30, 2022 | |
| 2021 | Mar 31, 2021 | |
| 2020 | Mar 27, 2020 | |
| 2019 | Apr 3, 2019 | |
| 2018 | Apr 4, 2018 | |
| 2017 | Mar 28, 2017 | |
| 2016 | Mar 29, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.