Segment Information

3 Months Ended

May 02, 2020

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 (loss) 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
In thousands	May 2, 2020		May 4, 2019
Net sales:
In the United States:
Marmaxx	$	2,697,779	$	5,801,760
HomeGoods	759,865		1,396,865
TJX Canada	379,636		847,735
TJX International	571,608		1,231,225
Total net sales	$	4,408,888	$	9,277,585
Segment (loss) profit:
In the United States:
Marmaxx	$	(709,669)	$	795,993
HomeGoods	(153,703)		136,785
TJX Canada	(97,181)		97,032
TJX International	(258,617)		28,487
Total segment (loss) profit	(1,219,170)		1,058,297
General corporate expense	100,327		120,998

Interest expense, net	23,351		817
(Loss) income before income taxes	$	(1,342,848)	$	936,482