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:	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	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	(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)	5,476)	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	(3,122)	(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)	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	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	2,390)	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	(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)	1,773)	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)

The financial performance exhibited a period of significant volatility followed by a generally positive trend. Initial periods demonstrated substantial losses, which were then followed by periods of growth and profitability. More recently, performance has stabilized at a higher level, though with some quarterly fluctuations.

Net Sales: Net sales experienced a dramatic recovery following initial declines. From a low of US$4,409 million, sales increased substantially, peaking at US$16,411 million before experiencing a dip and subsequent recovery. The most recent periods show sales fluctuating between US$13,468 million and US$17,743 million, indicating a mature stage with moderate growth. Seasonal patterns are apparent, with generally higher sales in the quarters ending in October and January.
Gross Earnings: Gross earnings mirrored the trend in net sales. An initial loss of US$6 million was followed by consistent growth, reaching US$5,476 million in the most recent period. The gross earnings margin, calculated as gross earnings divided by net sales, appears to have improved over time, suggesting enhanced efficiency in managing the cost of goods sold. Fluctuations are present, but the overall trend is positive.
Operating Income: Operating income demonstrated a similar pattern to gross earnings, initially negative and then trending upwards. The company achieved positive operating income starting in the period ending October 31, 2020, and has maintained it since. Operating income reached US$2,354 million in the most recent period, indicating improved operational efficiency. The magnitude of operating income growth has slowed in recent quarters compared to the earlier recovery phase.
Selling, General and Administrative Expenses: Selling, general and administrative expenses increased consistently over the observed period, from US$1,314 million to US$3,122 million. While expenses increased in absolute terms, their growth appears to be managed relative to the growth in net sales, as evidenced by the improving operating income. The increase in expenses is likely related to the expansion of sales and business operations.
Net Income: Net income followed the overall trend of recovery and growth. The company experienced a net loss in the initial periods, but achieved profitability starting in the period ending October 31, 2020. Net income peaked at US$1,773 million and currently stands at US$1,442 million. The impact of income taxes is significant, consistently reducing net income from the income before taxes figure.
Specific Expense Items: The presence of "Impairment on equity investment" and "Loss on early extinguishment of debt" in specific periods indicates non-recurring expenses that impacted net income. These items appear to be isolated incidents and did not significantly disrupt the overall positive trend. Interest expense decreased over time, while interest income increased, contributing positively to net income.

In summary, the financial performance demonstrates a strong recovery from initial losses, driven by increased sales and improved operational efficiency. While fluctuations exist, the overall trend is positive, with recent periods showing stable profitability. The company appears to be managing its expenses effectively relative to revenue growth.

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TJX Cos. Inc. (NYSE:TJX)

Income Statement Quarterly Data

Income Statement
Quarterly Data