Segment Information

6 Months Ended

Aug. 03, 2019

TJX operates four main business segments. The Marmaxx segment (T.J. Maxx, Marshalls and tjmaxx.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 and interest expense, net. “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 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	August 3, 2019		August 4, 2018		August 3, 2019		August 4, 2018
Net sales:
In the United States:
Marmaxx	$	6,106,697	$	5,847,721	$	11,908,457	$	11,228,639
HomeGoods	1,424,836		1,327,346		2,821,701		2,596,677
TJX Canada	967,460		937,736		1,815,195		1,791,572
TJX International	1,282,603		1,218,312		2,513,828		2,402,947
	$	9,781,596	$	9,331,115	$	19,059,181	$	18,019,835
Segment profit:
In the United States:
Marmaxx	$	855,199	$	830,315	$	1,651,192	$	1,580,771
HomeGoods	128,942		142,090		265,727		289,450
TJX Canada	118,217		138,735		215,249		263,919
TJX International	50,459		48,691		78,946		89,517
	1,152,817		1,159,831		2,211,114		2,223,657
General corporate expense	128,613		164,245		249,611		268,365
Interest expense, net	2,897		3,029		3,714		7,177
Income before provision for income taxes	$	1,021,307	$	992,557	$	1,957,789	$	1,948,115

Segment assets as of August 3, 2019 increased from February 2, 2019 due to inclusion of operating lease right of use assets in segment assets. As of August 3, 2019, the breakdown of the Company’s operating right of use assets by segment is $4.5 billion in Marmaxx, $1.4 billion in HomeGoods, $1.0 billion in TJX Canada and $2.0 billion in TJX International.