Company: TJX
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0000109198-25-000061
Chunk: 38

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 increase in the first nine months reflects a 4% increase in comp sales, a positive foreign currency impact of 4% and a 2% increase in non-comp sales.

The increase in comp sales for both the third quarter and first nine months of fiscal 2026 was driven by an increase in customer transactions.

E-commerce sales represented approximately 3% of TJX International’s net sales for both the third quarter and first nine months of fiscal 2026 and fiscal 2025.

Segment Profit Margin

Segment profit margin increased to 9.2% for the third quarter of fiscal 2026 compared to 7.3% for the same period last year. This increase for the third quarter of fiscal 2026 was primarily due to higher merchandise margin and the favorable impact of transactional foreign exchange. Merchandise margin reflects higher markon and lower markdowns.

Segment profit margin increased to 6.4% for the first nine months of fiscal 2026 compared to 5.3% for the same period last year. This increase for the first nine months of fiscal 2026 was primarily due to higher merchandise margin, lower administrative costs and favorable store occupancy costs. Merchandise margin reflects higher markon and lower markdowns, partially offset by higher freight costs.

33

GENERAL CORPORATE EXPENSE Thirteen Weeks EndedThirty-Nine Weeks EndedIn millionsNovember 1,2025November 2,2024November 1,2025November 2,2024General corporate expense$216 $150 $613 $523 

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 both the third quarter of fiscal 2026 and first nine months of fiscal 2026 was primarily driven by higher other administrative costs, contributions to our charitable foundations and incentive compensation costs.

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 November 1, 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