10-QPeriod: Q1 FY2011

TJX COMPANIES INC /DE/ Quarterly Report for Q1 Ended May 1, 2010

Filed May 28, 2010For Securities:TJX

Summary

TJX Companies Inc. (TJX) filed its quarterly report for the period ending April 30, 2010, showcasing continued operational activity and strategic financial management. While the filing itself is a standard 10-Q and does not present new, material financial results for the quarter, it provides insight into the company's ongoing business and governance structure. Investors should note the inclusion of various exhibits related to credit agreements, executive employment, and incentive plans, which underscore the company's efforts in maintaining strong leadership and financial flexibility. The report emphasizes the company's commitment to robust corporate governance and the execution of its business strategy through various contractual agreements. The period covered by this filing occurred during a dynamic economic environment, and the disclosed agreements and plans suggest TJX's proactive approach to managing its workforce and financial obligations, aiming for sustained growth and stability.

Financial Highlights

46 data points
Beta

Revenue

$5.02B

27.3% Gross Margin

Net Income

$331.43M

6.6% Net Margin

EPS (Diluted)

$0.20

Total Assets

$7.75B

Cash & Equivalents

$1.83B

Free Cash Flow

$378.32M

Financial Statements
Beta
Revenue$5.02B
Gross Profit$1.37B
SG&A Expenses$821.36M
Net Income$331.43M
EPS (Basic)$0.20
EPS (Diluted)$0.20
Shares Outstanding (Basic)1.63B
Shares Outstanding (Diluted)1.66B

Key Highlights

  • 1Filing is a standard 10-Q for the period ending April 30, 2010, not presenting new quarterly financial results.
  • 2Includes extensive exhibits detailing executive employment agreements for key personnel.
  • 3Revolves around financial and governance-related documentation rather than operating performance updates.
  • 4Disclosure of a 5-year revolving credit agreement dated May 5, 2005, indicating ongoing access to credit.
  • 5Details amendments and restatements of Management Incentive Plans and Long Range Performance Incentive Plans, highlighting executive compensation structures.
  • 6Includes a settlement agreement with Mastercard International Incorporated, dated April 2, 2008, suggesting resolution of past commercial matters.
  • 7Presents the Executive Savings Plan (2010 Restatement), showing the company's long-term employee benefits strategy.

Frequently Asked Questions

This 10-Q filing is primarily an update on TJX Companies' corporate structure and governance, rather than a release of new quarterly financial performance data. The key takeaway for investors is the confirmation of ongoing operational stability and strategic planning through various contractual agreements, including credit facilities and executive incentive plans.

The numerous employment agreement exhibits highlight TJX's commitment to retaining and incentivizing its executive leadership. These agreements outline compensation, responsibilities, and terms for key individuals, indicating a focus on strong management continuity and performance-driven rewards.

No, this specific 10-Q filing, filed on May 27, 2010, for the period ending April 30, 2010, does not present TJX's quarterly sales or profitability figures. It focuses on legal, governance, and contractual matters, including financial instruments and executive compensation plans.

The settlement agreement with Mastercard International Incorporated, dated April 2, 2008, indicates that TJX had a past commercial dispute with Mastercard that has since been resolved. While dated prior to the filing period, its inclusion suggests a formal closure to that matter.