Segment Information

6 Months Ended

Jul. 31, 2021

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 and Homesense) 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 our four main business segments, Sierra operates sierra.com and retail stores 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, 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, 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. 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 (loss) 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				Twenty-Six Weeks Ended
In thousands	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Net sales:
In the United States:
Marmaxx	$	7,348,931	$	3,959,340	$	13,989,417	$	6,657,119
HomeGoods	2,083,261		1,235,973		4,225,017		1,995,838
TJX Canada	1,021,549		591,918		1,787,085		971,554
TJX International	1,623,322		880,344		2,162,205		1,451,952
Total net sales	$	12,077,063	$	6,667,575	$	22,163,724	$	11,076,463
Segment profit (loss):
In the United States:
Marmaxx	$	1,014,175	$	100,471	$	1,839,030	$	(609,198)
HomeGoods	182,526		97,576		434,128		(56,127)
TJX Canada	118,686		21,965		190,263		(75,216)
TJX International	173,456		(131,262)		(48,102)		(389,879)
Total segment profit (loss)	1,488,843		88,750		2,415,319		(1,130,420)
General corporate expense	163,602		123,433		324,044		223,760
Loss on early extinguishment of debt	242,248		—		242,248		—
Interest expense, net	28,661		57,336		73,349		80,687
Income (loss) before income taxes	$	1,054,332	$	(92,019)	$	1,775,678	$	(1,434,867)