Company: TJX
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0000109198-25-000024
Chunk: 36

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 36
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 Group President; and Kenneth Canestrari, Senior Executive Vice President, Group President. In this CD&A, the “Committee” refers to our Compensation Committee.

### INTRODUCTION
TJX is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, with a long track record of strong financial performance. Our distinctive, off-price business model is at the core of our success and differentiates TJX from traditional retailers. Each of our NEOs has more than 20 years of experience with our off-price business and has an in-depth understanding of our flexible business model and growth strategy. Having a highly experienced senior leadership team with the ability to successfully execute our off-price business in dynamic retail environments has been critical to our strong performance over many years.

To support the execution of our business model and our long-term success, we continue to focus on our traditional core compensation objectives: incentivizing and rewarding performance; sustaining our position of strength in a competitive and changing retail environment; supporting teamwork, management stability, and succession planning; and fostering alignment with shareholder interests.

| FY25 CD&A Highlights                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| •FY25 was a very strong year for TJX. TJX total consolidated annual sales surpassed $56 billion and we opened our 5,000th store. Consolidated comparable store sales* grew 4%, driven by an increase in customer transactions. We saw strong comparable store sales growth across both our apparel and home categories. Pre-tax profit of $6.5 billion and diluted earnings per share of $4.26 both grew significantly as compared to FY24. In FY25, we returned $4.1 billion to shareholders through our dividend and share repurchase programs. 
 •Our incentive plan results for FY25 and FY23-25 were based 100% on objective financial performance goals.                                                                                                                                                                                                                                                                                                                                                                                                                                        
 •We maintained the longstanding key features and overall design of our incentive compensation program in FY25, including a significant emphasis on compensation tied to long-term performance and a balanced mix of financial performance metrics.                                                                                                                                                                                                                                                                                                
 •Our very strong performance in FY25 resulted in above-target payouts for FY25 annual incentives and contributed to above-target payouts for FY23-25 long-term incentives.                                                                                                                                                                                                                                                                                                                                                                        
 •In 2024, we received 91% support in favor of our say-on-pay proposal, which we believe represents strong shareholder support for our program.                                                                                                                                                                                                                                                                                                                                                                                                    
 •We remain highly focused on management continuity and succession planning to support the execution of our off-price