01—Abstract
Summary
Summary of the 10-Q filed May 30, 2025. Cited figures are marked; the original filing is the authoritative source.
The TJX Companies, Inc. reported net sales of $13.11 billiona for the thirteen weeks ended May 3, 2025, an increase of 5% compared to the prior year period.
This growth was driven by a 3% increase in comparable store sales, primarily due to higher customer transactions. Diluted earnings per share (EPS) were $0.92b, a slight decrease from $0.93 in the prior year, impacted by an increase in the cost of sales ratio and selling, general, and administrative expense ratio.
The company continues to return capital to shareholders, with $1 billionc allocated to share repurchases and dividends in the quarter. TJX maintains a strong liquidity position with $4.26 billion in cash and cash equivalents and significant availability under its credit facilities.
02—Key points
Key Highlights
- Net sales increased 5% year-over-year to $13.11 billion.
- Comparable store sales grew by 3%, driven by customer transactions.
- Diluted EPS decreased slightly to $0.92 from $0.93 in the prior year.
- Pre-tax profit margin declined to 10.3% from 11.1% due to increased cost of sales and SG&A expenses.
- The company returned $1 billion to shareholders through share repurchases ($613 million) and dividends ($424 million).
- Inventory levels increased by 7% on a consolidated average per store basis.
- TJX has approximately $3 billion available for future share repurchases.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 30, 2025Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $13.11B$12.48B | +5.1% |
| Cost of Revenue | $9.25B$8.74B | +5.8% |
| Gross Profit | $3.87B$3.74B | +3.3% |
| SG&A Expenses | $2.55B$2.40B | +6.2% |
| Net Income | $1.04B$1.07B | −3.2% |
| EPS (Basic) | $0.93$0.95 | −2.1% |
| EPS (Diluted) | $0.92$0.93 | −1.1% |
| Shares Outstanding (Basic) | 1.12B1.13B | −1.2% |
| Shares Outstanding (Diluted) | 1.13B1.15B | −1.2% |
05—Questions
Frequently Asked Questions
What was the primary driver of the net sales increase?
The net sales increase of 5% to $13.11 billion was primarily driven by a 3% increase in comparable store sales, which in turn was largely fueled by an increase in customer transactions.
Why did diluted earnings per share decrease slightly?
Diluted earnings per share decreased slightly to $0.92 from $0.93 in the prior year period. This was mainly due to an increase in the cost of sales ratio (to 70.5% from 70.0%) and the selling, general, and administrative expense ratio (to 19.4% from 19.2%), impacting the overall profit margin.
How is TJX returning capital to shareholders?
TJX is actively returning capital to shareholders. In the first quarter, they returned $1 billion through share repurchases ($613 million) and dividend payments ($424 million). The company also has a substantial authorization of approximately $3 billion remaining for future share repurchases.
What is the company's inventory position?
Consolidated average per store inventories increased by 7% at the end of the first quarter compared to the prior year. This increase includes inventory held at distribution centers and reflects the inclusion of Sierra stores in the consolidated calculation starting this fiscal year.
06—Continue