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:	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	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019
Net sales	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)	12,206)	10,451)	9,782)	9,278)
Cost of sales, including buying and occupancy costs	(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)	(8,742)	(7,440)	(7,026)	(6,638)
Gross earnings (loss)	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)	3,465)	3,011)	2,756)	2,640)
Selling, general and administrative expenses	(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)	(2,135)	(1,886)	(1,731)	(1,702)
Operating income (loss)	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)	1,329)	1,125)	1,024)	937)
Impairment on equity investment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(218)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Loss on early extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(242)	—)	(312)	—)	—)	—)	—)	—)	—)	—)
Interest income (expense), net	28)	27)	30)	42)	43)	46)	50)	54)	41)	38)	37)	23)	—)	(11)	(19)	(21)	(21)	(29)	(45)	(47)	(53)	(57)	(23)	(3)	(3)	(3)	(1)
Income (loss) before income taxes	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)	1,326)	1,122)	1,021)	936)
(Provision) benefit for income taxes	(474)	(404)	(310)	(491)	(439)	(369)	(320)	(440)	(398)	(338)	(317)	(301)	(296)	(276)	(265)	(303)	(356)	(269)	(187)	(183)	(149)	(122)	455)	(341)	(294)	(262)	(236)
Net income (loss)	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)	985)	828)	759)	700)

Net Sales: Net sales displayed an initial increasing trend from May 2019 through February 2020, with values growing from 9,278 million USD to 12,206 million USD. Thereafter, there was a significant decline in May 2020 to 4,409 million USD, likely reflecting an unusual event impacting sales. Following this dip, net sales recovered progressively, reaching a high of 16,411 million USD in February 2024. However, some fluctuations occurred in subsequent quarters, with sales ranging between approximately 12,479 million USD and 15,117 million USD.
Cost of Sales, Including Buying and Occupancy Costs: Cost of sales followed a pattern broadly consistent with net sales. Initially increasing from 6,638 million USD in May 2019 to 8,742 million USD in February 2020, it then showed a sharp decrease to 4,414 million USD in May 2020. Post this decrease, costs rose steadily and peaked at 11,528 million USD in February 2024. Costs remained somewhat variable thereafter but generally stayed within a higher range consistent with revenue increases.
Gross Earnings: Gross earnings mostly mirrored the trends in net sales and costs. From 2,640 million USD in May 2019, gross earnings increased to 3,465 million USD by February 2020 before turning negative (-6 million USD) in May 2020. Thereafter, gross earnings rebounded strongly and generally showed an upward trajectory, reaching a peak of 4,883 million USD in February 2024. Fluctuations occurred in a few quarters but the overall trend was positive after the 2020 dip.
Selling, General and Administrative Expenses (SG&A): SG&A expenses initially increased steadily from 1,702 million USD in May 2019 to 2,496 million USD by January 2022. A notable decrease occurred in May 2020 to 1,314 million USD, concurrent with the overall cost reductions seen during that period. Post-2020, SG&A showed a gradual increasing trend, peaking again around 3,132 million USD in February 2024, reflecting rising operating costs alongside business recovery and growth.
Operating Income (Loss): Operating income grew steadily from 937 million USD in May 2019 to 1,329 million USD in February 2020. This was followed by a sharp operating loss of 1,319 million USD in May 2020, marking an unusual downturn. Operating income then recovered strongly, albeit with volatility, reaching 1,789 million USD in February 2024 and continuing to trend upwards through November 2025. The data reflect resilience and operational recovery after the mid-2020 setback.
Impairment on Equity Investment: There was an impairment charge reported in January 2022, negatively impacting earnings by 218 million USD. This one-time item likely contributed to declines in operating and net income during that period.
Loss on Early Extinguishment of Debt: Significant losses related to early debt extinguishment occurred sporadically, including a notable charge of 312 million USD in October 2020 and 242 million USD in May 2021. These charges impacted net profitability during those quarters.
Interest Income (Expense), Net: Interest expense was relatively stable but increased markedly from a small net expense (-1 to -3 million USD) in early periods up to -57 million USD in August 2020, before moderating somewhat. From 2021 onwards, net interest income fluctuated positively, indicating improved financing cost management or income generation from interest-bearing assets.
Income Before Income Taxes: Income before taxes followed a pattern similar to operating income, with growth from 936 million USD in May 2019 to 1,326 million USD in February 2020, then a sharp decline to -1,343 million USD in May 2020. Recovery was evident in subsequent quarters, culminating in 1,889 million USD by February 2025, indicating restored profitability over time.
Provision for Income Taxes: The provision for income taxes showed variability consistent with fluctuations in pre-tax income. Notably, a tax benefit of 455 million USD appeared in May 2020, corresponding to the large operating loss in that quarter. Tax provisions generally increased alongside profitability in later periods, exceeding 400 million USD in some quarters.
Net Income (Loss): Net income exhibited overall growth from 700 million USD in May 2019 to 985 million USD in February 2020, followed by a substantive loss of 887 million USD in May 2020. Thereafter, net income steadily increased, peaking at 1,403 million USD in February 2024. Despite some quarter-to-quarter volatility, the trend underscores strong recovery and sustained profitability after the mid-2020 downturn.

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TJX Cos. Inc. (NYSE:TJX)

Income Statement Quarterly Data

Income Statement
Quarterly Data