Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

TJX Cos. Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Aug 1, 2026	May 2, 2026	Jan 31, 2026	Nov 1, 2025	Aug 2, 2025	May 3, 2025	Feb 1, 2025	Nov 2, 2024	Aug 3, 2024	May 4, 2024	Feb 3, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020
Net sales	15,180)	14,323)	17,743)	15,117)	14,401)	13,111)	16,350)	14,063)	13,468)	12,479)	16,411)	13,265)	12,758)	11,783)	14,520)	12,166)	11,843)	11,406)	13,854)	12,532)	12,077)	10,087)	10,943)	10,117)	6,668)	4,409)
Cost of sales, including buying and occupancy costs	(10,108)	(9,843)	(12,267)	(10,190)	(9,976)	(9,246)	(11,371)	(9,622)	(9,380)	(8,739)	(11,528)	(9,139)	(8,910)	(8,374)	(10,732)	(8,623)	(8,572)	(8,223)	(10,095)	(8,836)	(8,528)	(7,256)	(7,883)	(7,062)	(5,174)	(4,414)
Gross earnings (loss)	5,072)	4,480)	5,476)	4,927)	4,425)	3,865)	4,979)	4,441)	4,088)	3,740)	4,883)	4,126)	3,848)	3,409)	3,789)	3,544)	3,271)	3,183)	3,760)	3,696)	3,549)	2,831)	3,061)	3,055)	1,493)	(6)
Selling, general and administrative expenses	(3,085)	(2,794)	(3,122)	(3,039)	(2,805)	(2,549)	(3,132)	(2,748)	(2,666)	(2,400)	(3,094)	(2,578)	(2,559)	(2,238)	(2,473)	(2,185)	(2,175)	(2,095)	(2,496)	(2,297)	(2,224)	(2,065)	(2,193)	(1,986)	(1,528)	(1,314)
Operating income (loss)	1,987)	1,686)	2,354)	1,888)	1,620)	1,316)	1,847)	1,693)	1,422)	1,340)	1,789)	1,548)	1,289)	1,171)	1,316)	1,359)	1,097)	1,089)	1,264)	1,400)	1,325)	766)	868)	1,069)	(35)	(1,319)
Impairment on equity investment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(218)	—)	—)	—)	—)	—)	—)	—)	—)
Loss on early extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(242)	—)	(312)	—)	—)	—)
Interest income (expense), net	31)	35)	36)	28)	27)	30)	42)	43)	46)	50)	54)	41)	38)	37)	23)	—)	(11)	(19)	(21)	(21)	(29)	(45)	(47)	(53)	(57)	(23)
Income (loss) before income taxes	2,018)	1,721)	2,390)	1,916)	1,647)	1,346)	1,889)	1,736)	1,468)	1,390)	1,843)	1,589)	1,327)	1,208)	1,339)	1,359)	1,086)	852)	1,243)	1,379)	1,054)	721)	508)	1,016)	(92)	(1,343)
(Provision) benefit for income taxes	(498)	(389)	(617)	(474)	(404)	(310)	(491)	(439)	(369)	(320)	(440)	(398)	(338)	(317)	(301)	(296)	(276)	(265)	(303)	(356)	(269)	(187)	(183)	(149)	(122)	455)
Net income (loss)	1,520)	1,332)	1,773)	1,442)	1,243)	1,036)	1,398)	1,297)	1,099)	1,070)	1,403)	1,191)	989)	891)	1,038)	1,063)	809)	587)	940)	1,023)	786)	534)	326)	867)	(214)	(887)

Financial performance exhibits a sustained recovery and growth trajectory from May 2020 through August 2026. Following an initial period of significant volatility and losses, the company established a pattern of consistent revenue expansion and operational efficiency, leading to stabilized and growing profitability.

Revenue Growth and Seasonality: Net sales grew from a low of 4,409 million in May 2020 to 15,180 million by August 2026. A recurring seasonal pattern is observable, with peak sales typically occurring in the quarters ending in January/February and October/November. This suggests a strong cyclical demand tied to specific calendar periods.
Gross Margin Expansion: Gross earnings recovered from a loss of 6 million in May 2020 to 5,072 million in August 2026. The cost of sales, while increasing in absolute terms, has scaled more slowly than net sales, indicating improved gross margin percentages over the analyzed period. The margin stability suggests effective inventory management and pricing strategies.
Operating Efficiency and SG&A: Selling, general, and administrative expenses increased from 1,314 million to 3,085 million. However, as a percentage of net sales, these expenses have trended downward, demonstrating operational leverage. Operating income reflected this efficiency, moving from an initial loss of 1,319 million to a consistent positive range, peaking at 2,354 million in January 2026.
Net Profitability and Bottom-Line Trends: Net income shifted from a deficit of 887 million in May 2020 to a gain of 1,520 million by August 2026. While periodic fluctuations occurred, the long-term trend shows a steady climb in net earnings. The provision for income taxes increased proportionally with the growth in pre-tax income, maintaining a consistent effective tax rate over time.
Non-Operating Items and Financial Position: The period was marked by specific one-time charges, including debt extinguishment costs in January 2021 and July 2021, and an equity investment impairment in April 2022. A notable shift is observed in net interest, which transitioned from a net expense in 2020 to a consistent source of income starting in January 2023, suggesting an improved cash position or a reduction in interest-bearing debt.

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TJX Cos. Inc. (NYSE:TJX)

Income StatementQuarterly Data

Income Statement
Quarterly Data