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Segment Information
12 Months Ended
Jan. 28, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls, tjmaxx.com and marshalls.com) and the HomeGoods segment (HomeGoods, Homesense and homegoods.com) 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 T.K. Maxx in Australia. In addition to the Company’s four main business segments, Sierra operates retail stores and sierra.com in the U.S. The results of Sierra are included in the Marmaxx segment.
All of TJX’s stores, with the exception of HomeGoods and HomeSense/Homesense, sell family apparel and home fashions. HomeGoods and HomeSense/Homesense offer home fashions. The percentages of the Company’s consolidated revenues by major product category for the last three fiscal years are as follows:
Fiscal 2023Fiscal 2022Fiscal 2021
Apparel:
Clothing including footwear48 %47 %46 %
Jewelry and accessories17 15 15 
Home fashions35 38 39 
Total100 %100 %100 %
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, interest expense, net and certain separately disclosed unusual or infrequent items. “Segment profit or loss,” as defined by TJX, may not be comparable to similarly titled measures used by other entities. This measure of performance should not be considered an alternative 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:
  Fiscal Year Ended
In millionsJanuary 28,
2023
January 29,
2022
January 30,
2021
Net sales:
In the United States:
Marmaxx$30,545 $29,483 $19,363 
HomeGoods8,264 8,995 6,096 
TJX Canada4,912 4,343 2,836 
TJX International6,215 5,729 3,842 
Total net sales$49,936 $48,550 $32,137 
Segment profit (loss):
In the United States:
Marmaxx
$3,883 $3,813 $891 
HomeGoods522 907 510 
TJX Canada690 485 124 
TJX International347 161 (504)
Total segment profit$5,442 $5,366 $1,021 
General corporate expense582 611 439 
Impairment on equity investment218 — — 
Loss on early extinguishment of debt 242 312 
Interest expense, net6 115 181 
Income before income taxes$4,636 $4,398 $89 
Business segment information (continued):
  Fiscal Year Ended
In millionsJanuary 28,
2023
January 29,
2022
January 30,
2021
Identifiable assets:
In the United States:
Marmaxx$12,170 $11,229 $10,221 
HomeGoods3,590 3,461 2,851 
TJX Canada2,003 2,197 2,035 
TJX International4,075 4,281 4,389 
Corporate(a)
6,511 7,293 11,318 
Total identifiable assets
$28,349 $28,461 $30,814 
Capital expenditures:
In the United States:
Marmaxx$822 $513 $216 
HomeGoods295 244 162 
TJX Canada110 69 44 
TJX International230 219 146 
Total capital expenditures
$1,457 $1,045 $568 
Depreciation and amortization:
In the United States:
Marmaxx$480 $465 $479 
HomeGoods165 149 135 
TJX Canada70 73 71 
TJX International167 174 176 
Corporate(b)
5 10 
Total depreciation and amortization$887 $868 $871 
(a)Corporate identifiable assets consist primarily of cash, the trust assets in connection with the Executive Savings Plan and in fiscal 2022 and fiscal 2021 included the minority investment in Familia. Consolidated cash, including cash held in the Company’s foreign entities, is included with corporate assets for consistency with the reporting of cash for the Company’s segments in the U.S.
(b)Includes debt discount accretion and debt expense amortization.