Company: TJX
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0000109198-25-000043
Chunk: 67

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-30
Form: 10-Q
Item: Part I, Item 8
Chunk 67
---
3, 2025, both the number of stores in operation and the selling square footage increased 3% compared to the end of the first quarter of fiscal 2025.

–Consolidated comp sales increased 3% for the first quarter of fiscal 2026. See Net Sales below for our definition of comp sales.

–Diluted earnings per share for the first quarter of fiscal 2026 were $0.92 versus $0.93 in the first quarter of fiscal 2025.

–Pre-tax profit margin (the ratio of pre-tax income to net sales) for the first quarter of fiscal 2026 was 10.3%, a 0.8 percentage point decrease compared with 11.1% in the first quarter of fiscal 2025.

–Our cost of sales, including buying and occupancy costs, ratio for the first quarter of fiscal 2026 was 70.5%, a 0.5 percentage point increase compared with 70.0% in the first quarter of fiscal 2025.

–Our selling, general and administrative (“SG&A”) expense ratio for the first quarter of fiscal 2026 was 19.4%, a 0.2 percentage point increase compared with 19.2% in the first quarter of fiscal 2025.

–Our consolidated average per store inventories, including inventory on hand at our distribution centers (which excludes inventory in transit) and excluding our e-commerce sites, were up 7% at the end of the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025. Starting in the first quarter of fiscal 2026, Sierra stores are included in the consolidated average per store inventories. 

–During the first quarter of fiscal 2026, we returned $1 billion to our shareholders through share repurchases and dividends.

Recent Events and Trends

Global Economic Conditions and Tariffs

We continue to closely monitor changes in international trade relations, economic and monetary policies, or legislation and regulations including those related to tariffs on imports from China and other countries. The tariffs have led to significant volatility in the global economy, and the extent and duration of the tariffs and the resulting impact on general economic conditions and on our business are uncertain. Our buying organization’s ability to execute our merchandise sourcing model to offset the effects of the tariffs is a key factor. We are implementing and considering additional measures that seek to mitigate the impact of tariffs. However, the overall impact depends on a range of factors, including trade negotiations between the U