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Segment Information
 9 Months Ended
Oct. 27, 2012
Segment Information

Note F. Segment Information

TJX operates four business segments. In the United States, TJX’s two segments are Marmaxx (T.J. Maxx and Marshalls stores) and HomeGoods. The TJX Canada segment operates stores in Canada (Winners, HomeSense and Marshalls), and the TJX Europe segment operates stores in Europe (T.K. Maxx and HomeSense). A.J. Wright ceased to be a segment following its consolidation. TJX evaluates the performance of its segments based on “segment profit or loss,” which it defines as pre-tax income or loss before general corporate expense and interest expense. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. The terms “segment margin” or “segment profit margin” are used to describe segment profit or loss as a percentage of net sales. These measures of performance should not be considered alternatives 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 business segments:

 

     Thirteen Weeks Ended  

In thousands

    October 27,
2012		      October 29,
2011		  

Net sales:

      

U.S. segments:

      

Marmaxx

    $ 4,161,409       $ 3,790,340   

HomeGoods

      637,514         551,066   

International segments:

      

TJX Canada

      768,967         705,061   

TJX Europe

      843,023         746,661   
  

 

 

     

 

 

  
   $ 6,410,913       $ 5,793,128   
  

 

 

     

 

 

  

Segment profit:

      

U.S. segments:

      

Marmaxx

    $ 576,505       $ 501,559   

HomeGoods

      76,790         63,128   

International segments:

      

TJX Canada

      127,212         125,936   

TJX Europe

      76,840         42,391   
  

 

 

     

 

 

  
     857,347         733,014   

General corporate expense

      102,789         60,711   

Interest expense, net

      6,089         8,551   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 748,469       $ 663,752   
  

 

 

     

 

 

  

 

Financial information on TJX’s business segments (continued):

 

     Thirty-Nine Weeks Ended  

In thousands

    October 27,
2012		      October 29,
2011		  

Net sales:

      

U.S. segments:

      

Marmaxx

    $ 12,026,518       $ 10,969,135   

HomeGoods

      1,830,950         1,569,658   

A.J. Wright (1)

      —           9,229   

International segments:

      

TJX Canada

      2,069,879         1,934,821   

TJX Europe

      2,227,211         1,998,854   
  

 

 

     

 

 

  
   $ 18,154,558       $ 16,481,697   
  

 

 

     

 

 

  

Segment profit (loss):

      

U.S. segments:

      

Marmaxx

    $ 1,762,512       $ 1,471,462   

HomeGoods

      206,754         146,059   

A.J. Wright (1)

      —           (49,291 ) 

International segments:

      

TJX Canada

      290,938         254,328   

TJX Europe

      113,293         18,398   
  

 

 

     

 

 

  
     2,373,497         1,840,956   

General corporate expense

      236,735         161,544   

Interest expense, net

      24,098         26,577   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 2,112,664       $ 1,652,835   
  

 

 

     

 

 

  

 

(1) The consolidation of the A.J. Wright segment was completed in fiscal 2012 (see Note B).