Company: TJX
Filing Date: 2025-05-30
Form Type: 10-Q
Source: 0000109198-25-000043
Chunk: 68

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-30
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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.S. and other countries, responses of other countries, exceptions that could be granted, and cost of alternative sources of merchandise. It is possible that some of the actions we might take to adapt could increase risk, drive a modification of our operations that might be time-consuming or expensive, or possibly impact pricing on certain items, which could impact our business. Uncertainty remains regarding the continued impact on our direct imports, indirect imports, vendor and competitor pricing, consumer demand, tariff pass-throughs, and reciprocal or retaliatory tariffs.

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Operating Results as a Percentage of Net Sales

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