Company: TJX
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0000109198-25-000043
Chunk: 24

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-30
Form: 10-Q
Item: Part I, Item 1
Chunk 24
---
The following table sets forth our consolidated operating results as a percentage of net sales:Thirteen Weeks EndedMay 3,2025May 4,2024Net sales100.0 %100.0 %Cost of sales, including buying and occupancy costs70.5 70.0 Selling, general and administrative expenses19.4 19.2 Interest (income) expense, net(0.2)(0.4)Income before income taxes*10.3 %11.1 %

*Figures may not foot due to rounding.

Net Sales

Net sales for the quarter ended May 3, 2025 totaled $13.1 billion, a 5% increase versus first quarter fiscal 2025 net sales of $12.5 billion. This increase reflects a 3% increase in comp sales, a 2% increase from non-comp sales and a neutral impact from foreign currency. Net sales from our e-commerce sites combined amounted to approximately 2% of total sales for each of the first quarters of fiscal 2026 and fiscal 2025.

Comp sales increased 3% for the first quarter of fiscal 2026 and increased 3% for the first quarter of fiscal 2025. Both home comp sales growth (as defined below) and apparel comp sales growth (as defined below) generally performed in line with the overall comp sales increase for the first quarter of fiscal 2026. Comp sales for the first quarter of fiscal 2026 were driven by an increase in customer transactions.

As of May 3, 2025, both our store count and selling square footage increased 3% compared to the end of the first quarter last year.

Definition of Comparable Sales

We define comparable sales, or comp sales, to be sales of stores and e-commerce sites that have been in operation for all or a portion of two consecutive fiscal years, or, in other words, stores or e-commerce sites that are starting their third fiscal year of operation. In any given fiscal year, we calculate comp sales on a 52-week basis by comparing the current and prior year weekly periods that are most closely aligned. Relocated stores and stores that have changed in size are generally classified in the same way as the original store, and we believe that the impact of these stores on the consolidated comp sales percentage is immaterial. Starting in fiscal 2026, sales from e-commerce sites are included in comp sales, and the impact of such sales on the consolidated comp sales percentage is imm