TJX(TJX) - 2026 Q2 - Quarterly Report

PART I - FINANCIAL INFORMATION This section presents TJX's unaudited consolidated financial statements and management's discussion of financial performance and market risks ITEM 1. Consolidated Financial Statements This section provides TJX's unaudited consolidated financial statements, including income, balance sheets, cash flows, and detailed accounting notes Consolidated Statements of Income The company reported increased net sales and net income for both the thirteen and twenty-six weeks ended August 2, 2025, compared to the prior year, leading to higher basic and diluted earnings per share Consolidated Statements of Income (Millions of US$) | Metric | 13 Weeks Ended Aug 2, 2025 | 13 Weeks Ended Aug 3, 2024 | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $14,401 | $13,468 | $27,512 | $25,947 | | Net income | $1,243 | $1,099 | $2,279 | $2,169 | | Basic EPS | $1.11 | $0.97 | $2.04 | $1.92 | | Diluted EPS | $1.10 | $0.96 | $2.02 | $1.89 | Consolidated Statements of Comprehensive Income Total comprehensive income increased for both the thirteen and twenty-six weeks ended August 2, 2025, primarily driven by net income and positive foreign currency translation adjustments, especially for the twenty-six-week period Consolidated Statements of Comprehensive Income (Millions of US$) | Metric | 13 Weeks Ended Aug 2, 2025 | 13 Weeks Ended Aug 3, 2024 | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net income | $1,243 | $1,099 | $2,279 | $2,169 | | Foreign currency translation adjustments, net of tax | $19 | $18 | $164 | $(0) | | Total comprehensive income | $1,262 | $1,117 | $2,443 | $2,169 | Consolidated Balance Sheets As of August 2, 2025, TJX reported an increase in total assets and shareholders' equity compared to both February 1, 2025, and August 3, 2024, while cash and cash equivalents decreased from the beginning of the year Consolidated Balance Sheets (Millions of US$) | Metric | August 2, 2025 | February 1, 2025 | August 3, 2024 | | :--- | :--- | :--- | :--- | | Total assets | $32,885 | $31,749 | $30,555 | | Total liabilities | $24,019 | $23,350 | $22,773 | | Total shareholders' equity | $8,866 | $8,393 | $7,782 | | Cash and cash equivalents | $4,639 | $5,335 | $5,250 | | Merchandise inventories | $7,372 | $6,421 | $6,470 | Consolidated Statements of Cash Flows For the twenty-six weeks ended August 2, 2025, net cash provided by operating activities decreased compared to the prior year, while net cash used in investing activities slightly decreased, and net cash used in financing activities increased significantly, resulting in a larger net decrease in cash and cash equivalents Consolidated Statements of Cash Flows (Millions of US$) | Metric | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,185 | $2,366 | | Net cash (used in) investing activities | $(969) | $(990) | | Net cash (used in) financing activities | $(2,002) | $(1,722) | | Net (decrease) in cash and cash equivalents | $(696) | $(350) | | Cash and cash equivalents at end of period | $4,639 | $5,250 | Consolidated Statements of Shareholders' Equity Shareholders' equity increased for both the thirteen and twenty-six weeks ended August 2, 2025, primarily due to net income, partially offset by cash dividends and common stock repurchases Consolidated Statements of Shareholders' Equity (Millions of US$) | Metric | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | | Total shareholders' equity (End of Period) | $8,866 | $7,782 | | Net income | $2,279 | $2,169 | | Cash dividends declared on common stock | $(950) | $(849) | | Common stock repurchased | $(1,136) | $(1,073) | Notes To Consolidated Financial Statements These notes provide detailed explanations of TJX's accounting policies, financial instruments, segment information, and other critical financial disclosures, offering context to the consolidated financial statements Note A. Basis of Presentation and Summary of Significant Accounting Policies This note outlines GAAP basis for interim financials, TJX's fiscal year, key accounting estimates, deferred gift card revenue, equity investments, and recently adopted accounting standards - TJX's fiscal year ends on the Saturday nearest to the last day of January; fiscal 2026 is a 52-week year[28] Deferred Gift Card Revenue (Millions of US$) | Metric | August 2, 2025 | August 3, 2024 | | :--- | :--- | :--- | | Balance, beginning of year | $824 | $773 | | Deferred revenue | $861 | $889 | | Revenue recognized | $(920) | $(940) | | Balance, end of period | $774 | $720 | - TJX completed a 49% ownership stake in Multibrand Outlet Stores (MOS) for $193 million and a 35% ownership stake in Brands for Less (BFL) for $358 million during fiscal 2025, both accounted for under the equity method[31][33] - The company adopted the new standard for improvements to reportable segment disclosures as of February 1, 2025, on a retrospective basis[42] Note B. Property at Cost This note details property at cost, including land, buildings, leasehold costs, and furniture, along with accumulated depreciation and current period depreciation expense Property at Cost (Millions of US$) | Component | August 2, 2025 | February 1, 2025 | August 3, 2024 | | :--- | :--- | :--- | :--- | | Land and buildings | $2,640 | $2,558 | $2,400 | | Leasehold costs and improvements | $5,149 | $4,710 | $4,539 | | Furniture, fixtures and equipment | $9,171 | $8,714 | $8,425 | | Total property at cost | $16,960 | $15,982 | $15,364 | | Less: accumulated depreciation and amortization | $9,185 | $8,636 | $8,396 | | Net property at cost | $7,775 | $7,346 | $6,968 | - Depreciation expense was $307 million for the three months ended August 2, 2025, and $602 million for the six months ended August 2, 2025[43] Note C. Accumulated Other Comprehensive (Loss) Income This note details changes in Accumulated Other Comprehensive (Loss) Income, primarily reflecting foreign currency translation adjustments and deferred benefit costs Accumulated Other Comprehensive (Loss) Income (Millions of US$) | Component | Balance, Feb 3, 2024 | Balance, Feb 1, 2025 | Balance, Aug 2, 2025 | | :--- | :--- | :--- | :--- | | Foreign Currency Translation | $(514) | $(619) | $(455) | | Deferred Benefit Costs | $(18) | $10 | $10 | | Total Accumulated Other Comprehensive (Loss) Income | $(532) | $(609) | $(445) | Note D. Capital Stock and Earnings Per Share TJX's Board approved a new $2.5 billion stock repurchase program, with $2.4 billion remaining, and details share repurchases, diluted EPS, and cash dividends - A new stock repurchase program for up to an additional $2.5 billion was approved in February 2025, with approximately $2.4 billion available as of August 2, 2025[46][169] Common Stock Repurchases (Millions of Shares / Millions of US$) | Period | Total Number of Shares Repurchased and Retired | Total Cost | | :--- | :--- | :--- | | 13 Weeks Ended Aug 2, 2025 | 4.1 | $515 | | 13 Weeks Ended Aug 3, 2024 | 5.1 | $559 | | 26 Weeks Ended Aug 2, 2025 | 9.2 | $1,128 | | 26 Weeks Ended Aug 3, 2024 | 10.4 | $1,068 | Earnings Per Share and Dividends | Metric | 13 Weeks Ended Aug 2, 2025 | 13 Weeks Ended Aug 3, 2024 | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | :--- | :--- | | Basic earnings per share | $1.11 | $0.97 | $2.04 | $1.92 | | Diluted earnings per share | $1.10 | $0.96 | $2.02 | $1.89 | | Cash dividends declared per share | $0.425 | $0.375 | $0.85 | $0.75 | Note E. Financial Instruments TJX manages market risks using derivative financial instruments, primarily diesel fuel and foreign currency contracts, with a net fair value liability of $24.9 million as of August 2, 2025 - TJX uses derivative financial instruments to minimize market risks from changes in interest, foreign currency exchange rates, and fuel costs, but not for speculative purposes[49] - The company hedges approximately 50% of its estimated notional diesel fuel requirements for the remainder of fiscal 2026 and the first six months of fiscal 2027[50] Net Fair Value of Derivative Financial Instruments (Millions of US$) | Date | Current Asset | Current (Liability) | Net Fair Value in U.S.$ | | :--- | :--- | :--- | :--- | | August 2, 2025 | $14.2 | $(39.1) | $(24.9) | | February 1, 2025 | $53.1 | $(18.1) | $35.0 | | August 3, 2024 | $19.1 | $(28.6) | $(9.5) | Derivative Gain (Loss) Recognized in Income (Millions of US$) | Derivative Type | Location of Gain (Loss) | 13 Weeks Ended Aug 2, 2025 | 13 Weeks Ended Aug 3, 2024 | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | :--- | :--- | | Fair value hedges (Intercompany balances) | SG&A expenses | $(7) | $(0) | $(30) | $1 | | Economic hedges (Diesel fuel contracts) | Cost of sales | $11 | $(11) | $(1) | $(16) | | Economic hedges (Merchandise purchase commitments) | Cost of sales | $3 | $3 | $(56) | $14 | | Total Gain (Loss) recognized in income | | $2 | $(7) | $(95) | $0 | Note F. Fair Value Measurements This note defines the fair value hierarchy and presents financial assets and liabilities measured at fair value, including Executive Savings Plan investments and derivative contracts Financial Assets and Liabilities Measured at Fair Value (Millions of US$) | Category | August 2, 2025 | February 1, 2025 | August 3, 2024 | | :--- | :--- | :--- | :--- | | Level 1 Assets: | | | | | Executive Savings Plan investments | $511.7 | $481.4 | $453.1 | | Level 2 Assets: | | | | | Foreign currency exchange contracts | $14.2 | $53.1 | $19.1 | | Level 2 Liabilities: | | | | | Foreign currency exchange contracts | $38.7 | $9.0 | $13.0 | | Diesel fuel contracts | $0.4 | $9.1 | $15.6 | Long-Term Debt Fair Value (Millions of US$) | Date | Carrying Value | Fair Value (Level 2) | | :--- | :--- | :--- | | August 2, 2025 | $2,867 | $2,702 | | February 1, 2025 | $2,866 | $2,634 | | August 3, 2024 | $2,864 | $2,676 | Note G. Segment Information TJX operates four segments (Marmaxx, HomeGoods, TJX Canada, TJX International), with performance evaluated by "segment profit or loss," showing growth across most segments - TJX operates four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International, with Sierra included in Marmaxx[65] Segment Net Sales and Profit (Millions of US$) | Segment | 13 Weeks Ended Aug 2, 2025 Net Sales | 13 Weeks Ended Aug 2, 2025 Segment Profit | 26 Weeks Ended Aug 2, 2025 Net Sales | 26 Weeks Ended Aug 2, 2025 Segment Profit | | :--- | :--- | :--- | :--- | :--- | | Marmaxx | $8,841 | $1,254 | $16,893 | $2,361 | | HomeGoods | $2,286 | $228 | $4,540 | $458 | | TJX Canada | $1,381 | $221 | $2,525 | $343 | | TJX International | $1,893 | $99 | $3,554 | $171 | | Total TJX | $14,401 | $1,802 | $27,512 | $3,333 | Segment Identifiable Assets (Millions of US$) | Segment | August 2, 2025 | February 1, 2025 | August 3, 2024 | | :--- | :--- | :--- | :--- | | Marmaxx | $14,943 | $14,137 | $13,535 | | HomeGoods | $4,201 | $4,037 | $3,938 | | TJX Canada | $2,520 | $2,128 | $2,277 | | TJX International | $4,647 | $4,243 | $4,323 | | Segment identifiable assets | $26,311 | $24,545 | $24,073 | Segment Capital Expenditures and Depreciation (Millions of US$) | Segment | 26 Weeks Ended Aug 2, 2025 Capital Expenditures | 26 Weeks Ended Aug 2, 2025 Depreciation and Amortization | | :--- | :--- | :--- | | Marmaxx | $650 | $334 | | HomeGoods | $118 | $113 | | TJX Canada | $73 | $50 | | TJX International | $117 | $105 | | Total | $958 | $602 | Note H. Pension Plans and Other Retirement Benefits This note details financial information for TJX's funded and unfunded pension plans, including expenses and anticipated contributions for fiscal 2026 Pension Plan Expense (Millions of US$) | Plan | 13 Weeks Ended Aug 2, 2025 | 13 Weeks Ended Aug 3, 2024 | 26 Weeks Ended Aug 2, 2025 | 26 Weeks Ended Aug 3, 2024 | | :--- | :--- | :--- | :--- | :--- | | Funded Plan | $4 | $6 | $8 | $12 | | Unfunded Plan | $2 | $3 | $4 | $5 | - TJX anticipates making contributions of $8 million to the unfunded plan in fiscal 2026, with no required funding for the funded plan[74] Note I. Long-Term Debt and Credit Lines TJX's long-term debt consists of $2,867 million in senior unsecured notes, complemented by two $1.5 billion revolving credit facilities with no outstanding amounts Long-Term Debt (Millions of US$) | Note Type | Maturity | August 2, 2025 | February 1, 2025 | August 3, 2024 | | :--- | :--- | :--- | :--- | :--- | | 2.250% senior unsecured notes | Sep 15, 2026 | $999 | $998 | $998 | | 1.150% senior unsecured notes | May 15, 2028 | $500 | $500 | $500 | | 3.875% senior unsecured notes | Apr 15, 2030 | $496 | $496 | $496 | | 1.600% senior unsecured notes | May 15, 2031 | $500 | $500 | $500 | | 4.500% senior unsecured notes | Apr 15, 2050 | $383 | $383 | $383 | | Total debt | | $2,878 | $2,877 | $2,877 | | Debt issuance costs | | $(11) | $(11) | $(13) | | Long-term debt | | $2,867 | $2,866 | $2,864 | - TJX has two revolving credit facilities totaling $1.5 billion, maturing in May 2029 and May 2030, with no outstanding amounts as of August 2, 2025[78][81] Note J. Income Taxes Recent tax legislation is not expected to materially impact TJX's income tax provision, while the effective tax rate decreased due to federal tax credits - The One Big Beautiful Bill Act (signed July 4, 2025) is expected to reduce current year U.S. cash tax obligations but not materially impact the income tax provision[82][114] - The effective income tax rate decreased to 24.5% for Q2 fiscal 2026 (from 25.1% in Q2 fiscal 2025) and to 23.9% for the first six months of fiscal 2026 (from 24.1% in fiscal 2025), primarily due to a benefit from federal tax credits[84][116] - Net unrecognized tax benefits were $209 million as of August 2, 2025[85] Note K. Contingent Obligations, Contingencies, and Commitments TJX is involved in various legal proceedings and may have contingent contractual obligations, with immaterial amounts accrued in financial statements - TJX is subject to various legal proceedings, lawsuits, disputes, and claims arising in the ordinary course of business, with immaterial amounts accrued in the financial statements[89] ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations This section provides management's perspective on TJX's financial performance and condition, detailing results of operations, liquidity, and capital resources for the second quarter and first six months of fiscal 2026 OVERVIEW TJX is a leading global off-price retailer operating over 5,100 stores across four segments, offering merchandise at significant discounts while mitigating economic impacts - TJX is the leading off-price apparel and home fashions retailer globally, operating over 5,100 stores across four segments[90] - The company sells merchandise at prices generally 20% to 60% below full-price retailers' regular prices[90] - TJX continues to monitor and mitigate the impact of tariffs and global economic volatility through its merchandise sourcing model[91] RESULTS OF OPERATIONS For Q2 fiscal 2026, TJX reported a 7% net sales increase to $14.4 billion, 4% comparable store sales growth, and diluted EPS of $1.10, with improved pre-tax profit margin Key Financial Metrics (Billions of US$ / Percentages) | Metric | Q2 Fiscal 2026 | Q2 Fiscal 2025 | Change | | :--- | :--- | :--- | :--- | | Net sales | $14.4 billion | $13.5 billion | +7% | | Consolidated comp sales | +4% | +4% | 0 ppt | | Diluted EPS | $1.10 | $0.96 | +$0.14 | | Pre-tax profit margin | 11.4% | 10.9% | +0.5 ppt | | Cost of sales ratio | 69.3% | 69.6% | -0.3 ppt | | SG&A expense ratio | 19.5% | 19.8% | -0.3 ppt | - Home comp sales growth outperformed apparel comp sales growth for both the second quarter and first six months of fiscal 2026[96] - Consolidated average per store inventories were up 10% at the end of Q2 fiscal 2026 compared to Q2 fiscal 2025[92] U.S. SEGMENTS Marmaxx and HomeGoods reported strong net sales and comparable store sales growth for Q2 fiscal 2026, with improved segment profit margins due to operational efficiencies and lower costs U.S. Segment Performance (Millions of US$) | Segment | Net Sales | Comp Sales | | :--- | :--- | :--- | | Marmaxx | $8,841 | +3% | | HomeGoods | $2,286 | +5% | - Marmaxx segment profit margin increased to 14.2% in Q2 fiscal 2026 due to operational efficiencies[126] - HomeGoods segment profit margin increased to 10.0% in Q2 fiscal 2026 due to lower supply chain costs and favorable merchandise margin[134] Marmaxx Marmaxx net sales increased 5% to $8.8 billion in Q2 fiscal 2026, with comparable store sales up 3%, and segment profit margin improved to 14.2% due to operational efficiencies Marmaxx Segment Key Metrics (Millions of US$) | Metric | Value | YoY Change | | :--- | :--- | :--- | | Net sales | $8,841 | +5% | | Segment profit margin | 14.2% | +0.1 ppt | | Comp sales | +3% | -2 ppt (vs Q2 FY25) | | Stores in operation | 2,701 | +70 stores | - The increase in comp sales was driven by an increase in average basket and customer transactions, with home comp sales outperforming apparel[125] HomeGoods HomeGoods net sales grew 9% to $2.3 billion in Q2 fiscal 2026, with comparable store sales up 5%, and segment profit margin rose to 10.0% due to lower supply chain costs HomeGoods Segment Key Metrics (Millions of US$) | Metric | Value | YoY Change | | :--- | :--- | :--- | | Net sales | $2,286 | +9% | | Segment profit margin | 10.0% | +0.9 ppt | | Comp sales | +5% | +3 ppt (vs Q2 FY25) | | Stores in operation | 1,028 | +36 stores | - The increase in comp sales was driven by an increase in customer transactions, with strongest growth in the South, Midwest and West regions[133] FOREIGN SEGMENTS TJX's foreign segments, TJX Canada and TJX International, both delivered strong net sales growth in Q2 fiscal 2026, with improved comparable store sales and segment profit margins Foreign Segment Performance (Millions of US$) | Segment | Net Sales | Comp Sales | Foreign Currency Impact | | :--- | :--- | :--- | :--- | | TJX Canada | $1,381 | +9% | Neutral | | TJX International | $1,893 | +5% | +6% | - TJX Canada's segment profit margin increased to 16.0% in Q2 fiscal 2026 due to expense leverage and operational efficiencies[139] - TJX International's segment profit margin increased to 5.2% in Q2 fiscal 2026 due to lower administrative costs, operational efficiencies, and favorable occupancy costs[145] TJX Canada TJX Canada reported an 11% increase in net sales to $1.4 billion for Q2 fiscal 2026, with 9% comparable store sales growth and improved segment profit margin TJX Canada Segment Key Metrics (Millions of US$) | Metric | Value | YoY Change | | :--- | :--- | :--- | | Net sales | $1,381 | +11% | | Segment profit margin | 16.0% | +1.0 ppt | | Comp sales | +9% | +7 ppt (vs Q2 FY25) | | Stores in operation | 582 | +10 stores | - The increase in comp sales was driven by an increase in customer transactions[138] TJX International TJX International's net sales increased 13% to $1.9 billion in Q2 fiscal 2026, benefiting from positive foreign currency impact and 5% comparable store sales growth TJX International Segment Key Metrics (Millions of US$) | Metric | Value | YoY Change | | :--- | :--- | :--- | | Net sales | $1,893 | +13% | | Segment profit margin | 5.2% | +0.8 ppt | | Comp sales | +5% | +4 ppt (vs Q2 FY25) | | Stores in operation | 823 | +17 stores | - The increase in comp sales was driven by an increase in customer transactions[143] GENERAL CORPORATE EXPENSE General corporate expense decreased to $182 million for Q2 fiscal 2026 due to favorable mark-to-market adjustments, but increased for the first six months General Corporate Expense (Millions of US$) | Period | August 2, 2025 | August 3, 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | 13 Weeks Ended | $182 | $220 | $(38) | | 26 Weeks Ended | $397 | $373 | $24 | - The decrease in Q2 fiscal 2026 general corporate expense was primarily due to favorable mark-to-market adjustments on inventory and fuel hedges[149] ANALYSIS OF FINANCIAL CONDITION TJX maintains strong liquidity with $4.6 billion in cash and $1.5 billion in credit, funding operations, capital expenditures, share repurchases, and dividends - TJX held $4.6 billion in cash as of August 2, 2025, with $1.5 billion held by foreign subsidiaries[151] - Operating activities provided $2.2 billion in cash for the first six months of fiscal 2026, a decrease of $181 million from the prior year, mainly due to changes in merchandise inventories[153] - Investing activities used $969 million for the first six months of fiscal 2026, primarily for capital expenditures[154] - Capital spending for the full fiscal year 2026 is anticipated to be approximately $2.1 billion to $2.2 billion[155] - Financing activities used $2 billion for the first six months of fiscal 2026, including $1.1 billion for share repurchases and $898 million for cash dividends[156][157][158] - TJX plans to repurchase approximately $2 billion to $2.5 billion of stock in fiscal 2026[157] CRITICAL ACCOUNTING ESTIMATES No material changes to critical accounting estimates were reported from the prior fiscal year's Annual Report on Form 10-K RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS Refers to Note A for accounting standards discussion, indicating no new material pronouncements beyond those already covered ITEM 3. Quantitative and Qualitative Disclosures about Market Risk No material changes in primary risk exposures or market risk management were reported from the prior fiscal year's Annual Report on Form 10-K ITEM 4. Controls and Procedures Management concluded that disclosure controls and procedures were effective as of August 2, 2025, with no material changes to internal control over financial reporting - Disclosure controls and procedures were effective at the reasonable assurance level as of August 2, 2025[163] - No material changes in internal control over financial reporting were identified during the fiscal quarter ended August 2, 2025[164] PART II - OTHER INFORMATION This section covers legal proceedings, risk factors, equity security sales, other information, and exhibits ITEM 1. Legal Proceedings Refers to Note K for information on legal proceedings, indicating TJX is subject to various lawsuits and claims with immaterial accrued amounts ITEM 1A. Risk Factors No material changes to the risk factors disclosed in the Annual Report on Form 10-K for the year ended February 1, 2025, were reported ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds During Q2 fiscal 2026, TJX repurchased 4.1 million shares for $515 million, with approximately $2.4 billion remaining under existing repurchase programs Common Stock Repurchases (Shares / US$) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | Approximate Dollar Value of Shares that May Yet be Purchased | | :--- | :--- | :--- | :--- | | May 4, 2025 - May 31, 2025 | 706,769 | $130.02 | $2,870,087,618 | | June 1, 2025 - July 5, 2025 | 1,749,307 | $124.96 | $2,651,485,857 | | July 6, 2025 - August 2, 2025 | 1,647,046 | $124.06 | $2,447,149,407 | | Total | 4,103,122 | | | - Approximately $2.4 billion remained available for repurchase under existing stock repurchase programs as of August 2, 2025[169] ITEM 5. Other Information No directors or officers adopted, materially modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the fiscal quarter ITEM 6. Exhibits Lists the exhibits filed with the Form 10-Q, including amendments to revolving credit agreements and certifications of the CEO and CFO - Exhibits include amendments to the 2029 and 2030 Revolving Credit Agreements and certifications of the CEO and CFO[171] SIGNATURE The report was duly signed on behalf of The TJX Companies, Inc. by John Klinger, Chief Financial Officer, on August 29, 2025