Company: TJX
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000109198-25-000010
Chunk: 100

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-04-02
Form: 10-K
Item: Item 7
Chunk 100
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 %Stores in operation at end of period:HomeGoods943 919 Homesense72 55 Total1,015 974 Selling square footage at end of period (in millions):HomeGoods17 17 Homesense2 1 Total19 18 

Net Sales

Net sales for HomeGoods were $9.4 billion for fiscal 2025, an increase of 4%, compared to $9.0 billion for fiscal 2024. The increase in net sales reflects a 4% increase from comp store sales and a 2% increase from non-comp store sales, partially offset by a negative 2% estimated year-over-year impact of the 53rd week in fiscal 2024.

The increase in comp store sales for fiscal 2025 reflected an increase in customer transactions, partially offset by a decrease in average basket. Geographically, comp store sales growth was strongest in the West and Midwest regions.

Segment Profit Margin

Segment profit margin increased to 10.9% for fiscal 2025 compared to a segment profit margin of 9.6% for fiscal 2024. The increase in segment profit margin for fiscal 2025 was primarily driven by higher merchandise margin and the year-over-year benefit from closing HomeGoods’ e-commerce business last year, partially offset by incremental store wage and payroll costs. Merchandise margin reflects lower freight costs and higher markon.

In fiscal 2026, we expect to open 30 new HomeGoods stores, of which 9 are expected to be Homesense stores. This would increase selling square footage by approximately 3%.

34

FOREIGN SEGMENTS 

TJX Canada

  Fiscal Year EndedU.S. dollars in millionsFebruary 1,2025February 3,2024(53 weeks)Net sales$5,189 $5,046 Segment profit$703 $715 Segment profit margin13.5 %14.2 %Comp store sales5 %3 %Stores in operation at end of period:Winners307 302 HomeSense160 158 Marshalls109 106 Total576 566 Selling square footage at end of period (in millions):Winners7 7 HomeSense3 3 Marshalls2 2 Total12 12 

Net Sales

Net sales for TJX Canada were $5.2 billion for fiscal 2025, an increase of 3% compared to $5.