TJX Companies Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>TJX Companies Inc. has filed its 2024 Form 10-K detailing its fiscal year operations and financial standing.</b>

AI Summary

TJX COMPANIES INC /DE/ (TJX) filed a Annual Report (10-K) with the SEC on April 3, 2024. TJX Companies Inc. filed its annual report on Form 10-K for the fiscal year ended February 3, 2024. The filing covers the period from January 29, 2023, to February 3, 2024. The company's principal executive offices are located at 770 Cochituate Road, Framingham, MA 01701. TJX Companies Inc. was formerly known as Zayre Corp, with a name change on June 25, 1989. The filing includes financial data and disclosures related to the company's operations.

Why It Matters

For investors and stakeholders tracking TJX COMPANIES INC /DE/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of TJX's financial performance, strategic initiatives, and risk factors for the fiscal year 2024, crucial for investors to assess the company's health and future prospects. As a major player in the retail industry, TJX's annual report offers insights into consumer spending trends, inventory management, and competitive strategies within the apparel and home goods sectors.

Risk Assessment

Risk Level: medium — TJX COMPANIES INC /DE/ shows moderate risk based on this filing. The company operates in the highly competitive retail sector, facing risks related to consumer spending, economic conditions, and inventory management, as detailed in its 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand TJX's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 2024-02-03 — Fiscal Year End Date (Fiscal year end)
• 2024-04-03 — Filing Date (Date filed)
• 1989-06-25 — Name Change Date (Date of former company name change)

Key Players & Entities

• TJX COMPANIES INC /DE/ (company) — Filer name
• ZAYRE CORP (company) — Former company name
• 770 COCHITUATE RD (company) — Business address street
• FRAMINGHAM (company) — Business address city
• MA (company) — Business address state
• 01701 (company) — Business address zip

FAQ

Risk Factors

• Product Concentration Risk [medium — market]: The company faces risks related to the concentration of its product offerings, which could impact sales if demand shifts.

Industry Context

TJX Companies operates in the off-price retail sector, a segment characterized by value-oriented consumers and dynamic inventory sourcing.

Regulatory Implications

The filing adheres to SEC regulations for annual reports (Form 10-K), providing standardized financial and operational disclosures for public companies.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-K to understand revenue, expenses, and profitability for FY2024.
2. Review the 'Risk Factors' section to identify potential challenges and their impact on TJX's business.
3. Compare key financial metrics (if available in future filings) to previous years to assess performance trends.

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-03: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ended February 3, 2024, providing updated financial and operational data compared to the previous year's filings.

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share TJX New York Stock Exchange

Filing Documents

• tjx-20240203.htm (10-K) — 2259KB
• tjx-20240203xexhibit1012.htm (EX-10.12) — 15KB
• tjx-20240203xexhibit1017.htm (EX-10.17) — 13KB
• tjx-20240203xexhibit1018.htm (EX-10.18) — 127KB
• tjx-20240203xexhibit1019.htm (EX-10.19) — 20KB
• tjx-20240203xexhibit1025.htm (EX-10.25) — 16KB
• tjx-20240203xexhibit1049.htm (EX-10.49) — 20KB
• tjx-20240203exhibit21.htm (EX-21) — 65KB
• tjx-20240203exhibit23.htm (EX-23) — 2KB
• tjx-20240203exhibit24.htm (EX-24) — 8KB
• tjx-20240203exhibit311.htm (EX-31.1) — 14KB
• tjx-20240203exhibit312.htm (EX-31.2) — 14KB
• tjx-20240203exhibit321.htm (EX-32.1) — 7KB
• tjx-20240203exhibit322.htm (EX-32.2) — 7KB
• tjx-20240203xexhibit97.htm (EX-97) — 28KB
• picture1a.jpg (GRAPHIC) — 11KB
• picture2.jpg (GRAPHIC) — 5KB
• 0000109198-24-000014.txt (&nbsp;) — 13085KB
• tjx-20240203.xsd (EX-101.SCH) — 81KB
• tjx-20240203_cal.xml (EX-101.CAL) — 115KB
• tjx-20240203_def.xml (EX-101.DEF) — 353KB
• tjx-20240203_lab.xml (EX-101.LAB) — 957KB
• tjx-20240203_pre.xml (EX-101.PRE) — 689KB
• tjx-20240203_htm.xml (XML) — 2308KB

Risk Factors

ITEM 1A. Risk Factors 11

Unresolved Staff Comments

ITEM 1B. Unresolved Staff Comments 22

Cybersecurity

ITEM 1C. Cybersecurity 23

Properties

ITEM 2. Properties 24

Legal Proceedings

ITEM 3. Legal Proceedings 27

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 27 PART II

Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

ITEM 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27

Reserved

ITEM 6. Reserved 27

Management's Discussion and Analysis of Financial Condition and Results of Operation

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operation 28

Quantitative and Qualitative Disclosure about Market Risk

ITEM 7A. Quantitative and Qualitative Disclosure about Market Risk 40

Financial Statements and Supplementary Data

ITEM 8. Financial Statements and Supplementary Data 40

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 40

Controls and Procedures

ITEM 9A. Controls and Procedures 40

Other Information

ITEM 9B. Other Information 41

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 41 PART III

Directors, Executive Officers and Corporate Governance

ITEM 10. Directors, Executive Officers and Corporate Governance 41

Executive Compensation

ITEM 11. Executive Compensation 42

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 42

Certain Relationships and Related Transactions, and Director Independence

ITEM 13. Certain Relationships and Related Transactions, and Director Independence 42

Principal Accountant Fees and Services

ITEM 14. Principal Accountant Fees and Services 42 PART IV

Exhibits, Financial Statement Schedules

ITEM 15. Exhibits, Financial Statement Schedules 42

Form 10-K Summary

ITEM 16. Form 10-K Summary 45

SIGNATURES

SIGNATURES 46 4 PART I

Business

ITEM 1. Business BUSINESS OVERVIEW The TJX Companies, Inc. (together with its subsidiaries, "TJX," the "Company," "we," or "our") is the leading off-price apparel and home fashions retailer in the United States and worldwide. We have over 4,900 stores and six branded e-commerce sites that offer a rapidly changing assortment of quality, fashionable, brand name and designer merchandise at prices generally 20% to 60% below full-price retailers' (including department, specialty, and major online retailers) regular prices on comparable merchandise, every day. Our mission is to deliver great value to our customers every day. In our stores and online, we offer consumers our value proposition of brand, fashion, price and quality. Our opportunistic buying strategies and flexible business model differentiate us from traditional retailers. We offer a treasure hunt shopping experience and a rapid turn of inventories relative to traditional retailers. Our goal is to create a sense of excitement and urgency for our customers and encourage frequent customer visits. We acquire merchandise in a variety of ways to support that goal. We reach a broad range of customers across income levels with our value proposition on a wide range of items. Our strategies and operations are synergistic across our retail chains. As a result, we are able to leverage our expertise throughout our business, sharing information, best practices, initiatives and new ideas, and to develop talent across our company. Further, we can leverage the substantial buying power of our businesses with our global vendor relationships. In this report, fiscal 2024 means the 53-week fiscal year ended February 3, 2024; fiscal 2023 means the 52-week fiscal year ended January 28, 2023 and fiscal 2022 means the 52-week fiscal year ended January 29, 2022. Fiscal 2025 means the 52-week fiscal year ending February 1, 2025. Unless otherwise indicated, all store information in this Item 1 is as of February 3, 2024, and reference

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View this 10-K filing on SEC EDGAR