XML 50 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information
 6 Months Ended
Aug. 02, 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, loss on early extinguishment of debt 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

    August 2,
2014		      August 3,
2013		  

Net sales:

      

In the United States:

      

Marmaxx

    $ 4,493,878       $ 4,295,346   

HomeGoods

      773,071         690,123   

TJX Canada

      695,924         679,364   

TJX Europe

      954,339         777,591   
  

 

 

     

 

 

  
   $ 6,917,212       $ 6,442,424   
  

 

 

     

 

 

  

Segment profit:

      

In the United States:

      

Marmaxx

    $ 685,614       $ 647,978   

HomeGoods

      94,635         81,170   

TJX Canada

      95,024         90,776   

TJX Europe

      55,614         40,529   
  

 

 

     

 

 

  
     930,887         860,453   

General corporate expense

      72,289         79,088   

Loss on early extinguishment of debt

      16,830         —     

Interest expense, net

      11,150         8,919   
  

 

 

     

 

 

  

Income before provision for income taxes

    $      830,618       $      772,446   
  

 

 

     

 

 

  

 

     Twenty-Six Weeks Ended  

In thousands

    August 2,
2014		      August 3,
2013		  

Net sales:

      

In the United States:

      

Marmaxx

    $ 8,728,633       $ 8,431,095   

HomeGoods

      1,530,223         1,379,653   

TJX Canada

      1,304,344         1,324,860   

TJX Europe

      1,845,188         1,496,425   
  

 

 

     

 

 

  
   $ 13,408,388       $ 12,632,033   
  

 

 

     

 

 

  

Segment profit:

      

In the United States:

      

Marmaxx

    $ 1,308,688       $ 1,282,278   

HomeGoods

      192,840         170,233   

TJX Canada

      139,047         165,082   

TJX Europe

      93,875         56,893   
  

 

 

     

 

 

  
     1,734,450         1,674,486   

General corporate expense

      135,726         155,954   

Loss on early extinguishment of debt

      16,830         —     

Interest expense, net

      20,745         14,201   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 1,561,149       $ 1,504,331