Analysis of Revenues
Revenues as Reported
TJX Cos. Inc., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30).
Overall, the financial information demonstrates a consistent pattern of revenue growth across all reported segments between January 30, 2021, and January 31, 2026. The rate of growth fluctuates year-over-year, but the general trajectory is positive. Marmaxx represents the largest single revenue contributor, followed by the aggregate of all stores in the United States.
- Marmaxx Revenue
- Marmaxx revenue experienced substantial growth from US$19,363 million in 2021 to US$36,585 million in 2026. The most significant increase occurred between 2021 and 2022, with a rise of approximately US$10.12 billion. Growth rates decelerated in subsequent years, but remained positive, averaging around US$2-3 billion annually from 2023 onwards.
- HomeGoods Revenue
- HomeGoods revenue also increased over the period, moving from US$6,096 million in 2021 to US$10,172 million in 2026. While growth was observed each year, a slight decrease occurred between 2022 and 2023 (US$8,995 million to US$8,264 million) before resuming an upward trend. The growth from 2024 to 2026 appears to be accelerating.
- United States Segment
- Combined revenue from stores in the United States increased from US$25,459 million in 2021 to US$46,757 million in 2026. The largest single-year increase was observed between 2021 and 2022, mirroring the trend in Marmaxx revenue. Growth continued at a steady pace throughout the period, indicating a strong performance within the domestic market.
- TJX Canada Revenue
- TJX Canada demonstrated consistent, albeit more moderate, growth, rising from US$2,836 million in 2021 to US$5,629 million in 2026. The annual increases were relatively stable, averaging approximately US$0.8-1.3 billion per year.
- TJX International Revenue
- TJX International revenue increased from US$3,842 million in 2021 to US$7,986 million in 2026. The rate of growth accelerated over the period, with larger increases observed in the later years. This suggests a strengthening performance in international markets.
- Net Sales
- Total net sales increased from US$32,137 million in 2021 to US$60,372 million in 2026. The growth trajectory closely follows the combined growth of its individual segments. The largest increase in net sales occurred between 2021 and 2022, with a gain of approximately US$16.41 billion. Subsequent years show continued, positive growth, though at a slightly reduced rate.
In summary, the reported revenues indicate a healthy and expanding business. While growth rates vary across segments and years, the overall trend is positive, suggesting effective strategies and market positioning.