Tjx Companies (TJX) — cost advantage, read against the 10-Q

Tjx Companiesreason 03 of 4it makes it for less than anyone else canderived 2026-09-11accession 0000109198-26-000048

Marmaxx segment profit margin increased to 15.6% for the second quarter compared to 14.2% for the same period last year, driven by a net benefit from tariff refunds and favorable merchandise margin due to higher markon

Cost of sales as a percentage of net sales decreased 2.7 percentage points for the second quarter, driven by a net benefit from tariff refunds and favorable merchandise margin due to higher markon

the finding

The Marmaxx segment margin disclosure now explicitly cites a net benefit from tariff refunds as a driver alongside favorable merchandise margin due to higher markon, consistent with the stated reason.

before · MD&A · 2026-05-02 → 2026-08-01

“Segment profit margin increased to 14.7% for the first quarter of fiscal 2027 compared to 13.7% for the same period last year. The increase in segment profit margin for the first quarter of fiscal 2027 was primarily driven by favorable merchandise margin due to higher markon and expense leverage on higher comp sales.”

→ after