Segment Information

9 Months Ended

Oct. 31, 2020

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				Thirty-Nine Weeks Ended
In thousands	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
Net sales:
In the United States:
Marmaxx	$	5,784,753	$	6,353,987	$	12,441,872	$	18,262,444
HomeGoods	1,875,641		1,582,411		3,871,479		4,404,112
TJX Canada	1,027,828		1,081,522		1,999,382		2,896,717
TJX International	1,429,067		1,433,414		2,881,019		3,947,242
Total net sales	$	10,117,289	$	10,451,334	$	21,193,752	$	29,510,515
Segment profit (loss):
In the United States:
Marmaxx	$	665,070	$	820,430	$	55,872	$	2,471,622
HomeGoods	291,209		173,212		235,082		438,939
TJX Canada	176,520		170,264		101,304		385,513
TJX International	86,576		99,397		(303,303)		178,343
Total segment profit	1,219,375		1,263,303		88,955		3,474,417
General corporate expense	150,499		137,925		374,259		387,536
Interest expense, net	52,884		3,259		133,571		6,973
Income (loss) before income taxes	$	1,015,992	$	1,122,119	$	(418,875)	$	3,079,908