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Segment Information
 3 Months Ended
Apr. 30, 2016
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 International segment operates T.K. Maxx, HomeSense and tkmaxx.com in Europe and Trade Secret in Australia. TJX also operates Sierra Trading Post (STP), an off-price Internet retailer that operates sierratradingpost.com and a small number of stores in the U.S. The results of STP are included in the Marmaxx segment. The former TJX Europe segment was renamed TJX International in the fourth quarter of fiscal 2016 to reflect the acquisition of Trade Secret in Australia.

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  
     April 30,      May 2,  

In thousands

    2016      2015  

Net sales:

      

In the United States:

      

Marmaxx

    $ 4,865,375       $ 4,495,410   

HomeGoods

      1,010,436         880,193   

TJX Canada

      685,577         620,212   

TJX International

      980,968         869,822   
  

 

 

     

 

 

  
   $ 7,542,356       $ 6,865,637   
  

 

 

     

 

 

  

Segment profit:

      

In the United States:

      

Marmaxx

    $ 708,857       $ 652,303   

HomeGoods

      138,210         121,299   

TJX Canada

      57,472         45,172   

TJX International

      14,347         26,355   
  

 

 

     

 

 

  
     918,886         845,129   

General corporate expense

      83,723         68,390   

Interest expense, net

      10,194         11,624   
  

 

 

     

 

 

  

Income before provision for income taxes

    $ 824,969       $ 765,115