Company: TJX
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000109198-25-000010
Chunk: 101

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-04-02
Form: 10-K
Item: Item 7
Chunk 101
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0 billion for fiscal 2024. The increase in net sales reflects a 5% increase in comp store sales and a 2% increase in non-comp store sales, partially offset by a negative foreign currency exchange rate impact of 2% and a negative 2% estimated year-over-year impact of the 53rd week in fiscal 2024. The increase in comp store sales was driven by an increase in customer transactions.

Segment Profit Margin  

Segment profit margin decreased to 13.5% for fiscal 2025 compared to a segment profit margin of 14.2% for fiscal 2024. The decrease for fiscal 2025 was primarily driven by incremental store wage and payroll costs, third-party supply chain exit costs this year, and the unfavorable year-over-year impact related to an insurance claim recovery last year.

In fiscal 2026, we expect to open 12 new stores in Canada, which would increase selling square footage by approximately 2%.

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TJX International  Fiscal Year EndedU.S. dollars in millionsFebruary 1,2025February 3,2024(53 weeks)Net sales$7,181 $6,768 Segment profit$422 $332 Segment profit margin5.9 %4.9 %Comp store sales4 %3 %Stores in operation at end of period:TK Maxx655 644 Homesense75 79 TK Maxx Australia84 80 Total814 803 Selling square footage at end of period (in millions):TK Maxx13 13 Homesense1 1 TK Maxx Australia1 1 Total15 15 

Net Sales

Net sales for TJX International were $7.2 billion for fiscal 2025, an increase of 6% compared to $6.8 billion for fiscal 2024. The increase in net sales reflects a 4% increase in comp store sales, a 3% increase from non-comp store sales and a positive foreign currency exchange rate impact of 1%, partially offset by a negative 2% estimated year-over-year impact of the 53rd week in fiscal 2024. The increase in comp store sales was driven by an increase in customer transactions.

E-commerce sales represented less than 4% of TJX International’s net sales for both fiscal 2025 and fiscal 2024.

Segment Profit Margin

Segment profit margin increased to 5.9% for fiscal 202