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Segment Information
3 Months Ended
May 03, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
TJX operates four segments. TJX defines its segments as those operations whose results the Chief Executive Officer, who is the Company’s chief operating decision maker (“CODM”), regularly reviews to analyze performance and allocate resources. 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, Homesense, tkmaxx.com, tkmaxx.de, and tkmaxx.at in Europe and TK Maxx in Australia. In addition to the Company’s four 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 CODM regularly reviews net sales by segment and segment profit or loss. There are no significant expense categories or amounts regularly provided to the CODM and included in reported segment profit or loss. As such, no significant expense categories are disclosed in the table below. The CODM evaluates the performance of the Company’s 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 segments:
 Thirteen Weeks Ended
In millionsMay 3,
2025
May 4,
2024
Marmaxx
Net sales$8,052 $7,750 
Segment expenses(a)
6,945 6,653 
Segment profit$1,107 $1,097 
HomeGoods
Net sales$2,254 $2,079 
Segment expenses(a)
2,024 1,881 
Segment profit$230 $198 
TJX Canada
Net sales$1,144 $1,113 
Segment expenses(a)
1,022 976 
Segment profit$122 $137 
TJX International
Net sales$1,661 $1,537 
Segment expenses(a)
1,589 1,476 
Segment profit$72 $61 
Total TJX
Net sales$13,111 $12,479 
Segment expenses(a)
11,580 10,986 
Segment profit$1,531 $1,493 
General corporate expense215 153 
Impairment on equity investment — 
Interest (income) expense, net(30)(50)
Income before income taxes$1,346 $1,390 
(a)    Segment expenses for each reportable segment include cost of sales and selling, general and administrative expenses. Cost of sales includes buying and occupancy costs, cost of merchandise sold, and other expenses. Selling, general and administrative expenses include store payroll and benefit costs, communication costs, and other expenses. Refer to Note A - Basis of Presentation and Summary of Accounting Principles for more information on the classifications.
The following table presents identifiable assets by segment:
In millionsMay 3,
2025
February 1,
2025
May 4,
2024
Identifiable assets:
In the United States:
Marmaxx$14,747 $14,137 $13,285 
HomeGoods4,172 4,037 3,898 
TJX Canada2,333 2,128 2,172 
TJX International4,534 4,243 4,098 
Segment identifiable assets$25,786 $24,545 $23,453 
Corporate(a)
6,072 7,204 6,226 
Total identifiable assets
$31,858 $31,749 $29,679 
(a)Corporate identifiable assets primarily include cash and trust assets from the Executive Savings Plan, and as of May 3, 2025 and February 1, 2025, include the equity method investments. Consolidated cash, including that held by foreign entities, is reported with Corporate assets for consistency with segment reporting in the U.S.
The following table presents capital expenditures and depreciation and amortization by segment:
In millionsMay 3,
2025
May 4,
2024
Capital expenditures:
In the United States:
Marmaxx$339 $247 
HomeGoods61 69 
TJX Canada34 38 
TJX International63 65 
Total capital expenditures
$497 $419 
Depreciation and amortization:
In the United States:
Marmaxx$165 $144 
HomeGoods56 51 
TJX Canada24 21 
TJX International50 47 
Segment depreciation and amortization$295 $263 
Corporate(a)
1 
Total depreciation and amortization$296 $264 
(a)Includes debt discount accretion and debt expense amortization.