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Segment Information
 9 Months Ended
Nov. 01, 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. TJX also operates STP, an off-price Internet retailer in the U.S. that operates a small number of stores. 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

    November 1,
2014		      November 2,
2013		  

Net sales:

      

In the United States:

      

Marmaxx

    $ 4,673,718       $ 4,484,174   

HomeGoods

      851,045         739,537   

TJX Canada

      791,725         785,883   

TJX Europe

      1,049,578         972,282   
  

 

 

     

 

 

  
   $ 7,366,066       $   6,981,876   
  

 

 

     

 

 

  

Segment profit:

      

In the United States:

      

Marmaxx

    $ 679,929       $ 658,369   

HomeGoods

      117,922         96,937   

TJX Canada

      136,480         128,692   

TJX Europe

      115,313         101,043   
  

 

 

     

 

 

  
       1,049,644         985,041   

General corporate expense

      80,504         96,298   

Interest expense, net

      10,040         9,371   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 959,100       $ 879,372   
  

 

 

     

 

 

  

 

     Thirty-Nine Weeks Ended  

In thousands

    November 1,
2014		      November 2,
2013		  

Net sales:

      

In the United States:

      

Marmaxx

    $ 13,402,351       $ 12,915,269   

HomeGoods

      2,381,268         2,119,190   

TJX Canada

      2,096,069         2,110,743   

TJX Europe

      2,894,766         2,468,707   
  

 

 

     

 

 

  
   $ 20,774,454       $ 19,613,909   
  

 

 

     

 

 

  

Segment profit:

      

In the United States:

      

Marmaxx

    $ 1,988,617       $ 1,940,647   

HomeGoods

      310,762         267,170   

TJX Canada

      275,527         293,774   

TJX Europe

      209,188         157,936   
  

 

 

     

 

 

  
     2,784,094         2,659,527   

General corporate expense

      216,230         252,252   

Loss on early extinguishment of debt

      16,830         —     

Interest expense, net

      30,785         23,572   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 2,520,249       $ 2,383,703