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TJX Companies Inc. (TJX) has submitted its Form 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $56.4 billion, a 4% increase compared to $54.2 billion in the previous fiscal year. This growth was driven by a 4% increase in comparable store sales and a 2% increase from non-comparable store sales.
Diluted earnings per share for the fiscal year were $4.26, up from $3.86 in the prior year. The company reported a pre-tax profit margin of 11.5%, an increase from 11.0% in the previous year.
The cost of sales, including buying and occupancy costs, decreased as a percentage of net sales to 69.4% from 70.0%. Selling, general, and administrative expenses increased slightly to 19.4% of net sales.
As of February 1, 2025, TJX operated over 5,000 stores worldwide, with a 3% increase in store count and a 2% increase in selling square footage compared to the previous year.
The company returned $4.1 billion to shareholders through share repurchases and dividends during the fiscal year. A dividend of $0.375 per share was declared in the fourth quarter.
TJX announced plans to enter the Spanish market with its TK Maxx banner in fiscal 2027.
The filing includes information on TJX's equity investments, including a joint venture with Grupo Axo in Mexico and a minority stake in Brands for Less in the Middle East.
TJX's liquidity position remains strong, with $5.3 billion in cash and cash equivalents as of February 1, 2025. The company expects to fund future capital expenditures with existing cash balances and internally generated funds.
The filing outlines various risk factors, including competition in the retail sector, foreign currency exchange risk, and potential impacts from global economic conditions.
TJX continues to focus on its off-price retail model, emphasizing flexible inventory management and opportunistic buying strategies to deliver value to customers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TJX Companies Inc. annual 10-K report dated April 2, 2025. To report an error, please email earnings@qz.com.