TJ Maxx 1999 Annual Report Download - page 6

T h e T J X C o m p a n i e s , I n c .
S E L E C T E D I N F O R M A T I O N B Y M A J O R B U S I N E S S S E G M E N T
Fi scal Ye a r E n d e d
Ja n u a ry 2 9 , Ja n u a ry 3 0, Ja nu a ry 3 1 ,
I n Th o u s a n d s 2 0 0 0 1 9 9 9 1 9 9 8
( 5 3 w e e k s )
Net sales:
Off-price family apparel stores $8,588,537 $7,816,563 $7,290,959
Off-price home fashion stores 206,810 132,538 98,110
$8,795,347 $7,949,101 $7,389,069
Operating income (loss):
Off-price family apparel stores $ 896,492 $ 782,706 $ 596,908
Off-price home fashion stores(1) 4,581 (4,950) (8,615)
901,073 777,756 588,293
General corporate expense (2) 37,182 69,449 58,906
Goodwill amortization 2,609 2,609 2,614
Interest expense, net 7,345 1,686 4,502
Income from continuing operations before income
taxes, extraordinary item and cumulative effect of
accounting change $ 853,937 $ 704,012 $ 522,271
Identifiable assets:
Off-price family apparel stores $2,189,403 $2,093,879 $2,033,945
Off-price home fashion stores 63,888 49,515 39,074
Corporate, primarily cash, goodwill and deferred taxes 551,672 604,452 536,613
$2,804,963 $2,747,846 $2,609,632
Capital expenditures:
Off-price family apparel stores $ 227,750 $ 202,054 $ 190,720
Off-price home fashion stores 10,819 5,688 1,662
$ 238,569 $ 207,742 $ 192,382
Depreciation and amortization:
Off-price family apparel stores $ 153,525 $ 130,325 $ 115,967
Off-price home fashion stores 3,911 3,302 3,186
Corporate, including goodwill 2,957 2,904 5,738
$ 160,393 $ 136,531 $ 124,891
( 1 ) The periods ended Ja n u a ry 30, 1999 and Ja n u a ry 31, 1998 include a pre-tax charge of $2.2 million and $1.5 million, re s p e c t ive ly,
for certain store closings and other re s t ructuring costs re l ating to HomeGoods.
( 2 ) G e n e ral corp o rate expense for the fiscal year ended Ja n u a ry 29, 2 0 0 0 , includes a pre-tax gain of $8.5 million associated with the
C o m p a ny ’s receipt of common stock resulting from the demutualization of Manulife Financial and a pre-tax charge of $1.1 million
for costs associated with a fiscal 1998 exe c u t ive defe r red compensation awa rd . G e n e ral corp o rate expense for the fiscal year ended
Ja n u a ry 30, 1999 includes a pre-tax charge of $6.3 million for costs associated with the fo re going exe c u t ive defe r red compensat i o n
awa rd , a $3.5 million pre-tax charge for the write-down of a note re c e ivable from the Company ’s former Hit or Miss division and a
$7.5 million charitable donation to The TJX Fo u n d at i o n . G e n e ral corp o rate expense for the fiscal year ended Ja n u a ry 31, 1 9 9 8
includes a pre-tax charge of $15.2 million for costs associated with the fo re going exe c u t ive defe r red compensation awa rd and a pre -
tax gain of $6.0 million for the sale of Bry l a n e, I n c . common stock.