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:	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	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	(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)	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	(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)	1,686)	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	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	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	(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)	1,332)	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 strong recovery and sustained growth trajectory from May 2020 through May 2026. Revenue shows a consistent upward trend, characterized by significant seasonal peaks occurring in the first quarter of each calendar year, with the highest quarterly net sales reaching 17,743 million in January 2026.

Revenue and Sales Growth: Net sales have expanded substantially from an initial 4,409 million in May 2020 to 14,323 million by May 2026. A recurring seasonal pattern is evident, where sales typically surge during the January/February reporting periods, followed by a moderate decline in the spring months before climbing again through the autumn and winter.
Gross Profitability: Gross earnings transitioned from a marginal loss in May 2020 to a steady growth phase. Gross earnings increased from 1,493 million in August 2020 to 4,480 million by May 2026. While cost of sales remains the most significant expenditure, the gap between net sales and cost of sales has widened over time, indicating improved gross margin efficiency.
Operating Efficiency and Expenses: Operating income has shifted from negative territory in early 2020 to a stable and growing positive range. Selling, general, and administrative expenses have increased in absolute terms, scaling from 1,314 million in May 2020 to 2,794 million in May 2026. However, this increase is proportional to the growth in net sales, suggesting that operational overhead is being managed effectively relative to scale.
Net Income and Non-Operating Items: Net income demonstrates a strong recovery, moving from a loss of 887 million in May 2020 to a profit of 1,332 million in May 2026. A notable shift is observed in interest income (expense), net, which transitioned from a net cost in the 2020-2021 period to a consistent source of income starting in early 2023. Occasional non-recurring impacts were noted, including losses on early extinguishment of debt in 2021 and an impairment on equity investment in April 2022, though these did not disrupt the overall long-term profitability trend.

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TJX Cos. Inc. (NYSE:TJX)

Income StatementQuarterly Data

Income Statement
Quarterly Data