TJX Earnings 2020-08-01

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

tjx-20200801

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(mark one)


☒			Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended August 1, 2020


☐			Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission file number 1-4908

The TJX Companies, Inc.

(Exact name of registrant as specified in its charter)


Delaware						04-2207613
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

770 Cochituate Road Framingham, Massachusetts						01701
(Address of principal executive offices)						(Zip Code)

(508) 390-1000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00 per share	TJX	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒

The number of shares of registrant’s common stock outstanding as of August 1, 2020: 1,199,061,133

The TJX Companies, Inc.

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

THE TJX COMPANIES, INC.

CONSOLIDATED STATEMENTS OF (LOSS) INCOME

(UNAUDITED)

IN THOUSANDS EXCEPT PER SHARE AMOUNTS


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
Net sales	$	6,667,575	$	9,781,596	$	11,076,463	$	19,059,181
Cost of sales, including buying and occupancy costs	5,174,490		7,026,057		9,588,955		13,663,942
Selling, general and administrative expenses	1,527,768		1,731,335		2,841,688		3,433,736


Interest expense, net	57,336		2,897		80,687		3,714
(Loss) income before income taxes	(92,019)		1,021,307		(1,434,867)		1,957,789
(Provision) benefit for income taxes	(122,201)		(262,345)		333,158		(498,649)
Net (loss) income	$	(214,220)	$	758,962	$	(1,101,709)	$	1,459,140
Basic (loss) earnings per share	$	(0.18)	$	0.63	$	(0.92)	$	1.20
Weighted average common shares – basic	1,198,634		1,210,525		1,198,222		1,212,528
Diluted (loss) earnings per share	$	(0.18)	$	0.62	$	(0.92)	$	1.19
Weighted average common shares – diluted	1,198,634		1,228,986		1,198,222		1,231,211

The accompanying notes are an integral part of the unaudited consolidated financial statements.

THE TJX COMPANIES, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

(UNAUDITED)

IN THOUSANDS


	Thirteen Weeks Ended
	August 1, 2020		August 3, 2019
Net (loss) income	$	(214,220)	$	758,962
Additions to other comprehensive (loss) income:
Foreign currency translation adjustments, net of related tax provisions of $5,462 in fiscal 2021 and $1,681 in fiscal 2020	69,378		(83,743)
Reclassifications from other comprehensive income (loss) to net (loss) income:
Amortization of prior service cost and deferred gains/losses, net of related tax provisions of $1,746 in fiscal 2021 and $1,453 in fiscal 2020	4,797		3,992
Amortization of loss on cash flow hedge, net of related tax provisions of $76 in fiscal 2021 and $76 in fiscal 2020	208		208
Other comprehensive income (loss), net of tax	74,383		(79,543)
Total comprehensive (loss) income	$	(139,837)	$	679,419


	Twenty-Six Weeks Ended
	August 1, 2020		August 3, 2019
Net (loss) income	$	(1,101,709)	$	1,459,140
Additions to other comprehensive (loss) income:
Foreign currency translation adjustments, net of related tax benefit of $1,486 in fiscal 2021 and $952 in fiscal 2020	(59,780)		(90,904)


Reclassifications from other comprehensive loss to net (loss) income:

Amortization of prior service cost and deferred gains/losses, net of related tax provisions of $3,492 in fiscal 2021 and $2,906 in fiscal 2020	9,594		7,984
Amortization of loss on cash flow hedge, net of related tax provisions of $152 in fiscal 2021 and $152 in fiscal 2020	416		416
Other comprehensive (loss), net of tax	(49,770)		(82,504)
Total comprehensive (loss) income	$	(1,151,479)	$	1,376,636

The accompanying notes are an integral part of the unaudited consolidated financial statements.

THE TJX COMPANIES, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

IN THOUSANDS, EXCEPT SHARE DATA


	August 1, 2020		February 1, 2020		August 3, 2019
ASSETS
Current assets:
Cash and cash equivalents	$	6,620,411	$	3,216,752	$	2,186,382

Accounts receivable, net	444,229		386,261		377,057
Merchandise inventories	3,744,062		4,872,592		5,087,046
Prepaid expenses and other current assets	403,621		368,048		438,994
Federal, state and foreign income taxes recoverable	305,624		46,969		179,125
Total current assets	11,517,947		8,890,622		8,268,604
Net property at cost	5,100,411		5,325,048		5,041,878
Non-current deferred income taxes, net	48,600		12,132		5,642
Operating lease right of use assets	9,063,854		9,060,332		8,944,302
Goodwill	97,131		95,546		95,938
Other assets	740,459		761,323		498,615
TOTAL ASSETS	$	26,568,402	$	24,145,003	$	22,854,979
LIABILITIES
Current liabilities:
Accounts payable	$	2,422,140	$	2,672,557	$	2,607,651
Accrued expenses and other current liabilities	2,884,826		3,041,774		2,601,851
Current portion of operating lease liabilities	1,591,076		1,411,216		1,353,721
Current portion of long-term debt	749,209		—		—
Federal, state and foreign income taxes payable	—		24,700		37,518
Total current liabilities	7,647,251		7,150,247		6,600,741
Other long-term liabilities	848,253		851,116		776,654
Non-current deferred income taxes, net	91,770		142,170		196,985
Long-term operating lease liabilities	7,875,234		7,816,633		7,742,866
Long-term debt	5,445,325		2,236,625		2,235,121
Commitments and contingencies (See Note L)
SHAREHOLDERS’ EQUITY
Preferred stock, authorized 5,000,000 shares, par value $1, no shares issued	—		—		—
Common stock, authorized 1,800,000,000 shares, par value $1, issued and outstanding 1,199,061,133; 1,199,099,768 and 1,208,932,667 respectively	1,199,061		1,199,100		1,208,933
Additional paid-in capital	68,532		—		—
Accumulated other comprehensive loss	(722,941)		(673,171)		(712,825)
Retained earnings	4,115,917		5,422,283		4,806,504
Total shareholders’ equity	4,660,569		5,948,212		5,302,612
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	26,568,402	$	24,145,003	$	22,854,979

The accompanying notes are an integral part of the unaudited consolidated financial statements.

THE TJX COMPANIES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

IN THOUSANDS


	Twenty-Six Weeks Ended
	August 1, 2020		August 3, 2019
Cash flows from operating activities:
Net (loss) income	$	(1,101,709)	$	1,459,140
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Depreciation and amortization	439,525		427,834
Loss on property disposals and impairment charges	38,970		3,215

Deferred income tax (benefit) provision	(88,562)		37,855
Share-based compensation	27,647		55,400
Changes in assets and liabilities:
(Increase) in accounts receivable	(56,041)		(35,848)
Decrease (increase) in merchandise inventories	1,111,612		(560,386)
(Increase) in income taxes recoverable	(258,655)		(166,333)
(Increase) in prepaid expenses and other current assets	(40,032)		(73,770)
(Decrease) in accounts payable	(240,356)		(6,823)
Increase (decrease) in accrued expenses and other liabilities	153,502		(113,799)
(Decrease) in income taxes payable	(25,254)		(116,460)
Increase in net operating lease liabilities	209,071		25,284
Other, net	27,057		(36,065)
Net cash provided by operating activities	196,775		899,244
Cash flows from investing activities:
Property additions	(309,910)		(578,018)

Purchase of investments	(19,411)		(18,994)
Sales and maturities of investments	10,503		9,374
Other	—		7,419
Net cash (used in) investing activities	(318,818)		(580,219)
Cash flows from financing activities:
Cash payments on revolving credit facilities	(1,000,000)		—
Proceeds from long-term debt including revolving credit facilities	4,988,452		—
Cash payments for debt issuance expenses	(33,872)		—
Cash payments for repurchase of common stock	(201,500)		(699,751)
Cash dividends paid	(278,250)		(517,448)
Proceeds from issuance of common stock	59,532		102,475
Cash payments of employee tax withholdings for performance based stock awards	(21,843)		(23,297)

Net cash provided by (used in) financing activities	3,512,519		(1,138,021)
Effect of exchange rate changes on cash	13,183		(24,851)
Net increase (decrease) in cash and cash equivalents	3,403,659		(843,847)
Cash and cash equivalents at beginning of year	3,216,752		3,030,229
Cash and cash equivalents at end of period	$	6,620,411	$	2,186,382

The accompanying notes are an integral part of the unaudited consolidated financial statements.

THE TJX COMPANIES, INC.

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY

(UNAUDITED)

IN THOUSANDS


	Thirteen Weeks Ended
	Common Stock
	Shares	Par Value $1		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Total
Balance, May 2, 2020	1,197,877	$	1,197,877	$	8,104	$	(797,324)	$	4,330,561	$	4,739,218
Net loss	—	—		—		—		(214,220)		(214,220)

Other comprehensive income, net of tax	—	—		—		74,383		—		74,383

Recognition of share-based compensation	—	—		39,178		—		—		39,178

Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings	1,184	1,184		21,250		—		(424)		22,010

Balance, August 1, 2020	1,199,061	$	1,199,061	$	68,532	$	(722,941)	$	4,115,917	$	4,660,569


	Thirteen Weeks Ended
	Common Stock
	Shares	Par Value $1		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Total
Balance, May 4, 2019	1,212,668	$	1,212,668	$	—	$	(633,282)	$	4,552,509	$	5,131,895
Net income	—	—		—		—		758,962		758,962

Other comprehensive (loss), net of tax	—	—		—		(79,543)		—		(79,543)
Cash dividends declared on common stock	—	—		—		—		(278,624)		(278,624)
Recognition of share-based compensation	—	—		29,668		—		—		29,668
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings	1,952	1,952		40,759		—		—		42,711
Common stock repurchased and retired	(5,687)	(5,687)		(70,427)		—		(226,343)		(302,457)
Balance, August 3, 2019	1,208,933	$	1,208,933	$	—	$	(712,825)	$	4,806,504	$	5,302,612

The accompanying notes are an integral part of the unaudited consolidated financial statements.

THE TJX COMPANIES, INC.

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY

(UNAUDITED)

IN THOUSANDS


	Twenty-Six Weeks Ended
	Common Stock
	Shares	Par Value $1		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Total
Balance, February 1, 2020	1,199,100	$	1,199,100	$	—	$	(673,171)	$	5,422,283	$	5,948,212
Net loss	—	—		—		—		(1,101,709)		(1,101,709)

Other comprehensive (loss), net of tax	—	—		—		(49,770)		—		(49,770)

Recognition (reversal) of share-based compensation	—	—		59,482		—		(31,835)		27,647
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings	3,348	3,348		34,765		—		(424)		37,689
Common stock repurchased and retired	(3,387)	(3,387)		(25,715)		—		(172,398)		(201,500)
Balance, August 1, 2020	1,199,061	$	1,199,061	$	68,532	$	(722,941)	$	4,115,917	$	4,660,569


	Twenty-Six Weeks Ended
	Common Stock
	Shares	Par Value $1		Additional Paid-In Capital		Accumulated Other Comprehensive Loss		Retained Earnings		Total
Balance February 2, 2019	1,217,183	$	1,217,183	$	—	$	(630,321)	$	4,461,744	$	5,048,606
Net income	—	—		—		—		1,459,140		1,459,140
Cumulative effect of accounting change	—	—		—		—		403		403
Other comprehensive (loss), net of tax	—	—		—		(82,504)		—		(82,504)
Cash dividends declared on common stock	—	—		—		—		(557,860)		(557,860)
Recognition of share-based compensation	—	—		55,400		—		—		55,400
Issuance of common stock under Stock Incentive Plan, net of shares used to pay tax withholdings	5,094	5,094		74,084		—		—		79,178
Common stock repurchased and retired	(13,344)	(13,344)		(129,484)		—		(556,923)		(699,751)
Balance, August 3, 2019	1,208,933	$	1,208,933	$	—	$	(712,825)	$	4,806,504	$	5,302,612

The accompanying notes are an integral part of the unaudited consolidated financial statements.

THE TJX COMPANIES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note A. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

The Consolidated Financial Statements and Notes thereto have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. These Consolidated Financial Statements and Notes thereto are unaudited and, in the opinion of management, reflect all normal recurring adjustments, accruals and deferrals among periods required to match costs properly with the related revenue or activity, considered necessary by The TJX Companies, Inc. (together with its subsidiaries, “TJX”) for a fair statement of its Consolidated Financial Statements for the periods reported, all in conformity with GAAP consistently applied. Investments for which the Company exercises significant influence but does not have control are accounted for under the equity method. The Consolidated Financial Statements and Notes thereto should be read in conjunction with the audited Consolidated Financial Statements, including the related notes, contained in TJX’s Annual Report on Form 10-K for the fiscal year ended February 1, 2020 (“fiscal 2020”).

These interim results are not necessarily indicative of results for the full fiscal year. TJX’s business, in common with the businesses of retailers generally, is subject to seasonal influences, with higher levels of sales and income generally realized in the second half of the year. TJX is also impacted by the uncertainty surrounding the financial impact of the novel coronavirus (“COVID-19”) pandemic as discussed in Note B—Impact of the COVID-19 Pandemic.

The February 1, 2020 balance sheet data was derived from audited Consolidated Financial Statements and does not include all disclosures required by GAAP.

Fiscal Year

TJX’s fiscal year ends on the Saturday nearest to the last day of January of each year. The current fiscal year ends January 30, 2021 (“fiscal 2021”) and is a 52-week fiscal year. Fiscal 2020 was also a 52-week fiscal year.

Use of Estimates

The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. TJX considers its accounting policies relating to leases, inventory valuation, impairment of long-lived assets, goodwill and tradenames, reserves for uncertain tax positions and loss contingencies to be the most significant accounting policies that involve management estimates and judgments. The Company considered COVID-19 related impacts to its estimates, as appropriate, within its unaudited consolidated financial statements and there may be changes to those estimates in future periods. We believe that our accounting estimates are appropriate after giving consideration to the ongoing uncertainties surrounding the severity and duration of the COVID-19 pandemic and the associated containment and remediation efforts. Actual amounts could differ from these estimates, and such differences could be material.

Deferred Gift Card Revenue

The following table presents deferred gift card revenue activity:


In thousands	August 1, 2020		August 3, 2019
Balance, beginning of year	$	500,844	$	450,302
Deferred revenue	355,397		747,827
Effect of exchange rates changes on deferred revenue	(854)		(826)
Revenue recognized	(378,782)		(791,293)
Balance, end of period	$	476,605	$	406,010

TJX recognized $198.7 million in gift card revenue for the three months ended August 1, 2020 and $407.6 million for the three months ended August 3, 2019. The decrease in both deferred revenue and revenue recognized versus the prior year reflects the impact of temporary store and e-commerce closures due to the COVID-19 pandemic. Gift cards are combined in one homogeneous pool and are not separately identifiable. As such, the revenue recognized consists of gift cards that were part of the deferred revenue balance at the beginning of the period as well as gift cards that were issued during the period.

Equity Investment

On November 18, 2019, the Company, through a wholly owned subsidiary, completed an investment of $225 million, excluding acquisition costs, for a 25% ownership stake in privately held Familia, an established, off-price apparel and home fashions retailer with more than 275 stores throughout Russia. The Company's investment represents a non-controlling, minority position and is accounted for under the equity method of accounting.

Included in the initial carrying value of $225 million, which represents the transaction date fair value, was a basis difference of $212 million related to the difference between the cost of the investment and the Company's proportionate share of the net assets of Familia. Goodwill comprised $186 million of the difference, and the remainder was allocated to the Familia tradename and customer relationships. The carrying value of the equity method investment is primarily adjusted for the Company's share in the earnings of Familia, as adjusted for basis differences, and the foreign currency exchange translation adjustment related to translating the investment from Russian rubles to U.S. dollars. The Company amortizes the tradename and customer relationships over their useful lives of 10 and 7 years, respectively, using the straight-line method.

This investment is included in Other assets on our Consolidated Balance Sheets. The Company reports its share of Familia’s results on a one-quarter lag, and earnings from the Company's investment in Familia were $0.3 million for the three months ended August 1, 2020 and $0.7 million for the six months ended August 1, 2020, which has been recorded in our Consolidated Statements of (Loss) Income as a reduction to Selling, general and administrative expenses. Revaluing the investment from Russian rubles to the U.S. dollar as of August 1, 2020 resulted in a cumulative translation loss and reduced the carrying value of our investment by $32 million. The cumulative translation loss has been recorded in our Consolidated Balance Sheets as a component of Accumulated other comprehensive loss. The carrying value of the equity investment on the Consolidated Balance Sheets at August 1, 2020, including acquisition costs of $5.6 million, was $199.7 million.

Familia operations have also been impacted by the COVID-19 pandemic and virtually all stores were temporarily closed. We have not impaired our investment due to our belief that any decline in fair value of our investment is temporary as almost all Familia stores have been reopened and we expect Familia to have adequate liquidity to continue operations notwithstanding the COVID-19 pandemic.

Leases

Supplemental cash flow information related to leases for the twenty-six weeks ended August 1, 2020 and August 3, 2019 is as follows:


	Twenty-Six Weeks Ended
In thousands	August 1, 2020		August 3, 2019
Operating cash flows paid for operating leases	$	762,823	$	846,211
Lease liabilities arising from obtaining right of use assets	$	765,183	$	993,979

During the first half of fiscal 2021, we negotiated rent deferrals (primarily for second quarter lease payments) for a significant number of our stores, with repayment at later dates, primarily in fiscal 2022. See Note B—Impact of the COVID-19 Pandemic for additional information.

Recently Adopted Accounting Standards

Simplified Accounting for Income Taxes

In December 2019, the Financial Accounting Standards Board (“FASB”) issued guidance related to simplified accounting for income taxes. The new standard simplifies accounting for income taxes by removing certain exceptions to the general principals in Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020, with early adoption permitted in any interim period within that year. The Company reviewed the provisions of this standard and determined that most of them do not apply to TJX. The most significant impact to the Company is the simplification of the tax benefit calculation recognized on pre-tax losses in interim periods. The Company elected to early adopt this standard as of February 2, 2020, which did not have an impact on the Company's financial statements or disclosures for the first half of fiscal 2021.

From time to time, the FASB or other st

Price	54.83	EPS	3
Shares	1,229	P/E	22
MCap	67,381	P/FCF	36
Net Debt	240	EBIT	3,921
TEV	67,621	TEV/EBIT	17
TTM 2019-11-02, in MM, except price, ratios

10-Q	2020-08-01	Filed 2020-08-28
10-Q	2020-05-02	Filed 2020-05-21
10-K	2020-02-01	Filed 2020-03-27
10-Q	2019-11-02	Filed 2019-12-03
10-Q	2019-08-03	Filed 2019-08-30
10-Q	2019-05-04	Filed 2019-05-31
10-K	2019-02-02	Filed 2019-04-03
10-Q	2018-11-03	Filed 2018-12-04
10-Q	2018-08-04	Filed 2018-08-31
10-Q	2018-05-05	Filed 2018-06-01
10-K	2018-02-03	Filed 2018-04-04
10-Q	2017-10-28	Filed 2017-11-28
10-Q	2017-07-29	Filed 2017-08-25
10-Q	2017-04-29	Filed 2017-05-26
10-K	2017-01-28	Filed 2017-03-28
10-Q	2016-10-29	Filed 2016-11-30
10-Q	2016-07-30	Filed 2016-08-26
10-Q	2016-04-30	Filed 2016-05-27
10-K	2016-01-30	Filed 2016-03-29
10-Q	2015-10-31	Filed 2015-12-01
10-Q	2015-08-01	Filed 2015-08-28
10-Q	2015-05-02	Filed 2015-05-29
10-K	2015-01-31	Filed 2015-03-31
10-Q	2014-11-01	Filed 2014-12-02
10-Q	2014-08-02	Filed 2014-08-29
10-Q	2014-05-03	Filed 2014-05-30
10-K	2014-02-01	Filed 2014-04-01
10-Q	2013-08-03	Filed 2013-08-30
10-Q	2013-05-04	Filed 2013-05-31
10-K	2013-02-02	Filed 2013-04-02
10-Q	2012-10-27	Filed 2012-11-29
10-Q	2012-07-28	Filed 2012-08-24
10-Q	2012-04-28	Filed 2012-05-25
10-K	2012-01-28	Filed 2012-03-27
10-Q	2011-10-29	Filed 2011-12-01
10-Q	2011-07-30	Filed 2011-08-26
10-Q	2011-04-30	Filed 2011-05-27
10-K	2011-01-29	Filed 2011-03-30
10-Q	2010-10-30	Filed 2010-11-24
10-Q	2010-07-31	Filed 2010-08-27
10-Q	2010-05-01	Filed 2010-05-28
10-K	2010-01-30	Filed 2010-03-30

8-K	2020-08-19	Earnings, Exhibits
8-K	2020-08-10	Enter Agreement, Off-BS Arrangement, Regulation FD, Exhibits
8-K	2020-06-09
8-K	2020-05-15
8-K	2020-04-01
8-K	2020-04-01
8-K	2020-03-30
8-K	2020-03-19
8-K	2020-02-26
8-K	2019-11-20
8-K	2019-11-19
8-K	2019-08-20
8-K	2019-06-04
8-K	2019-05-21
8-K	2019-03-14
8-K	2019-02-27
8-K	2019-02-01
8-K	2018-11-21
8-K	2018-11-20
8-K	2018-10-22
8-K	2018-09-27
8-K	2018-09-17
8-K	2018-08-21
8-K	2018-06-05
8-K	2018-05-22
8-K	2018-03-02
8-K	2018-02-28
8-K	2018-02-02
8-K	2018-01-16

EX-31.1	tjx-20200801xex311.htm
EX-31.2	tjx-20200801xex312.htm
EX-32.1	tjx-20200801xex321.htm
EX-32.2	tjx-20200801xex322.htm


PART I
ITEM 1. Financial Statements			3
Consolidated Statements of (Loss) Income			3
Consolidated Statements of Comprehensive (Loss) Income			4
Consolidated Balance Sheets			5
Consolidated Statements of Cash Flows			6
Consolidated Statement of Shareholders' Equity			7
Notes To Consolidated Financial Statements			9
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations			24
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk			37
ITEM 4. Controls and Procedures			37

PART II
ITEM 1. Legal Proceedings			38
ITEM 1A. Risk Factors			38
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds			39
ITEM 6. Exhibits			40

SIGNATURES			41

TJX 10Q Quarterly Report

TJX Earnings 2020-08-01