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Segment Information
 3 Months Ended
May 03, 2014
Segment Information

Note G. Segment Information

TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls and tjmaxx.com) and the HomeGoods segment both operate in the United States, the TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX Europe segment operates T.K. Maxx, HomeSense and tkmaxx.com in Europe. Late in fiscal 2013 TJX acquired STP, an off-price Internet retailer in the U.S. The results of STP are included in the Marmaxx segment.

All of TJX’s stores, with the exception of HomeGoods and HomeSense, sell family apparel and home fashions. HomeGoods and HomeSense offer home fashions.

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, net. “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

    May 3,
2014		      May 4,
2013		  

Net sales:

      

In the United States:

      

Marmaxx

    $ 4,234,755       $ 4,135,749   

HomeGoods

      757,152         689,530   

TJX Canada

      608,420         645,496   

TJX Europe

      890,849         718,834   
  

 

 

     

 

 

  
   $ 6,491,176       $ 6,189,609   
  

 

 

     

 

 

  

Segment profit:

      

In the United States:

      

Marmaxx

    $ 623,074       $ 634,300   

HomeGoods

      98,205         89,063   

TJX Canada

      44,023         74,306   

TJX Europe

      38,261         16,364   
  

 

 

     

 

 

  
     803,563         814,033   

General corporate expense

      63,437         76,866   

Interest expense, net

      9,595         5,282   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 730,531       $ 731,885