Company: TJX
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000109198-25-000010
Chunk: 99

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-04-02
Form: 10-K
Item: Item 7
Chunk 99
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%Comp store sales4 %6 %Stores in operation at end of period:TJ Maxx1,333 1,319 Marshalls1,230 1,197 Sierra117 95 Total2,680 2,611 Selling square footage at end of period (in millions):TJ Maxx30 29 Marshalls27 27 Sierra1 1 Total58 57 

Net Sales

Net sales for Marmaxx were $34.6 billion for fiscal 2025, an increase of 4% compared to $33.4 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 was driven by an increase in customer transactions. While both Marmaxx home and apparel comp store sales growth were positive, home comp store sales growth outperformed apparel comp store sales growth for fiscal 2025. Geographically, comp store sales growth was positive across all regions.

Segment Profit Margin 

Segment profit margin increased to 14.1% for fiscal 2025 compared to a segment profit margin of 13.8% for fiscal 2024. The increase in segment profit margin was primarily driven by higher merchandise margin, partially offset by incremental store wage and payroll costs and higher occupancy and administrative costs. Merchandise margin reflects higher markon and lower inventory shrink expense.

Our Marmaxx e-commerce sites, tjmaxx.com and marshalls.com, together with sierra.com, represented less than 3% of Marmaxx’s net sales for fiscal 2025 and fiscal 2024, and did not have a significant impact on year-over-year segment margin comparisons. 

In fiscal 2026, we expect to open 40 Marmaxx net new stores and approximately 20 new Sierra stores, which would increase selling square footage by approximately 2%.

33

HomeGoods

  Fiscal Year EndedU.S. dollars in millionsFebruary 1,2025February 3,2024(53 weeks)Net sales$9,386 $8,990 Segment profit$1,021 $861 Segment profit margin10.9 %9.6 %Comp store sales4 %3