Company: TJX
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0000109198-25-000043
Chunk: 92

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-30
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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 reflects a 5% increase in comp sales, a 2% increase in non-comp sales and a positive foreign currency impact of 1%.

The increase in comp sales for the first quarter was driven by an increase in customer transactions.

E-commerce sales represented approximately 4% of TJX International’s net sales for the first quarter of fiscal 2026 and fiscal 2025.

Segment Profit Margin

Segment profit margin increased to 4.3% for the first quarter of fiscal 2026 compared to 4.0% for the same period last year. This increase for the first quarter of fiscal 2026 was primarily due to lower administrative costs and favorable occupancy costs, partially offset by incremental store wage and payroll costs.

GENERAL CORPORATE EXPENSE Thirteen Weeks EndedIn millionsMay 3,2025May 4,2024General corporate expense$215 $153 

General corporate expense for segment reporting purposes represents those costs not specifically related to the operations of our segments. General corporate expenses are primarily included in SG&A expenses. The mark-to-market adjustment of our fuel and inventory hedges is included in cost of sales, including buying and occupancy costs. 

The increase in general corporate expense for the first quarter of fiscal 2026 was primarily driven by the unfavorable year-over-year impacts related to the mark-to-market adjustments on inventory hedges and fuel hedges.

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ANALYSIS OF FINANCIAL CONDITION

Liquidity and Capital Resources

Our liquidity requirements have traditionally been funded through cash generated from operations, supplemented, as needed, by short-term bank borrowings and the issuance of commercial paper. As of May 3, 2025, there were no short-term bank borrowings or commercial paper outstanding. We believe our existing cash and cash equivalents, internally generated funds and our credit facilities, under which facilities we have $1.5 billion available as of the period ended May 3, 2025, as described in Note I—Long-Term Debt and Credit Lines of Notes to Consolidated Financial Statements, are adequate to meet our operating needs for the foreseeable future. 

As of May 3, 2025, we held $4.3 billion in cash. Approximately $1.2 billion of our cash was held by our foreign subsidiaries with $748 million held in countries where we intend to indefinitely reinvest any undistributed earnings. We have provided for all applicable state and foreign withholding taxes on all undistributed earnings of our foreign subsidiaries in Canada, Puerto Rico, Italy, India, Hong Kong