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Segment Information
12 Months Ended
Feb. 03, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
TJX operates four main business segments. In the United States, the Marmaxx segment operates TJ Maxx, Marshalls, tjmaxx.com and marshalls.com and the HomeGoods segment operates HomeGoods and Homesense. The TJX Canada segment operates Winners, HomeSense and Marshalls in Canada, and the TJX International segment operates TK Maxx and Homesense, as well as tkmaxx.com, tkmaxx.de, and tkmaxx.at in Europe and TK 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. In the third quarter of fiscal 2024, the Company closed its HomeGoods e-commerce business.
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 2024Fiscal 2023Fiscal 2022
Apparel:
Clothing including footwear47 %48 %47 %
Accessories including jewelry and beauty18 17 15 
Home fashions35 35 38 
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 (income) 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 millionsFebruary 3,
2024
January 28,
2023
January 29,
2022
(53 weeks)
Net sales:
In the United States:
Marmaxx$33,413 $30,545 $29,483 
HomeGoods8,990 8,264 8,995 
TJX Canada5,046 4,912 4,343 
TJX International6,768 6,215 5,729 
Total net sales$54,217 $49,936 $48,550 
Segment profit:
In the United States:
Marmaxx
$4,597 $3,883 $3,813 
HomeGoods861 522 907 
TJX Canada715 690 485 
TJX International332 347 161 
Total segment profit$6,505 $5,442 $5,366 
General corporate expense708 582 611 
Impairment on equity investment 218 — 
Loss on early extinguishment of debt — 242 
Interest (income) expense, net(170)115 
Income before income taxes$5,967 $4,636 $4,398 
Business segment information (continued):
  Fiscal Year Ended
In millionsFebruary 3,
2024
January 28,
2023
January 29,
2022
Identifiable assets:
In the United States:
Marmaxx$12,993 $12,170 $11,229 
HomeGoods3,828 3,590 3,461 
TJX Canada2,083 2,003 2,197 
TJX International4,154 4,075 4,281 
Corporate(a)
6,689 6,511 7,293 
Total identifiable assets
$29,747 $28,349 $28,461 
Capital expenditures:
In the United States:
Marmaxx$950 $822 $513 
HomeGoods345 295 244 
TJX Canada157 110 69 
TJX International270 230 219 
Total capital expenditures
$1,722 $1,457 $1,045 
Depreciation and amortization:
In the United States:
Marmaxx$525 $480 $465 
HomeGoods182 165 149 
TJX Canada76 70 73 
TJX International177 167 174 
Corporate(b)
4 
Total depreciation and amortization$964 $887 $868 
(a)Corporate identifiable assets consist primarily of cash, the trust assets in connection with the Executive Savings Plan and in fiscal 2022 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.