The number of stores in operation increased by approximately 2%, with selling square footage increasing by approximately 3% compared to the end of the prior year, indicating continued expansion.

The company plans to add approximately 105 new stores in fiscal 2025, including 45 Marmaxx net new stores and 40 HomeGoods stores, of which 17 are expected to be Homesense stores, which would increase selling square footage by approximately 2-4%.

Net sales from e-commerce sites combined amounted to less than 2% of total sales for both fiscal 2024 and fiscal 2023, indicating a continued focus on brick-and-mortar stores.

TJX returned $4.0 billion to shareholders through share repurchases and dividends, demonstrating a commitment to shareholder returns.

SG&A expenses increased by 1.4 percentage points to 19.3% of net sales, mainly due to higher incentive compensation costs and incremental store wage and payroll costs, as well as a reserve related to a German government COVID program receivable.

The company's average per store inventories, including inventory on hand at distribution centers (excluding e-commerce and Sierra stores), increased by 1% on both a reported basis and constant currency basis, which may indicate a potential increase in inventory risk.

The 10K filing highlights risks associated with the company's opportunistic buying strategy, including the need to obtain and allocate the right merchandise at the right times, in the right quantities, at the right prices, in the right mix, and in the right geographies.

The company acknowledges the risk of cybersecurity compromises and disruptions to its IT systems, which could result in material loss or liability, impacting operating results or harming the company's reputation.

The company's global sourcing strategy exposes it to risks related to manufacturing, supply chain disruptions, compliance with laws and regulations, and concerns about human rights and environmental impact.

The company acknowledges the highly competitive nature of the retail apparel and home fashion business, competing on factors such as brand, fashion, price, quality, selection, and in-store and online shopping experience.

The company competes with local, regional, national and international retailers that sell apparel, home fashions and other merchandise, including retailers that operate through stores, e-commerce and/or other media, as well as omnichannel retailers.

The company acknowledges that competitors may enter or increase their presence in markets in which the company operates, consolidate with other retailers, expand their merchandise offerings, expand their e-commerce capabilities, add new sales channels, change their pricing strategies, and/or adopt new processes or technologies that may allow them to compete more effectively.

The company operates with a low cost structure compared to many traditional retailers, focusing on expenses throughout the business, including advertising, store design, and distribution network.

The company's distribution network is designed to support global buying strategies and facilitate quick, efficient and differentiated delivery of merchandise to stores, with a goal of delivering the right merchandise to the right stores at the right time.

The company uses specialized inventory planning, purchasing, monitoring and markdown systems, coupled with distribution center storage, processing, handling and shipping systems, to tailor merchandise to local preferences and demographics.

The company relies heavily on IT systems, including those operated and maintained by suppliers and other third parties, to manage key aspects of its business, including planning, purchasing, sales, supply chain management, and inventory management.

The company maintains policies, procedures and controls designed to reduce the risks of cybersecurity compromises and IT failures or disruptions, and is investing in technologies, hiring, training and compliance.

The company strategically renovates and upgrades its stores across retail banners to enhance the customer shopping experience and help drive sales, and also trains store associates to provide friendly and helpful customer service.

The company returned $4.0 billion to shareholders through share repurchases and dividends, reflecting a commitment to shareholder returns.

The Board of Directors approved a new stock repurchase program that authorizes the repurchase of up to an additional $2.5 billion of common stock, indicating confidence in the company's financial position.

The company plans to repurchase approximately $2 billion to $2.5 billion of stock under its stock repurchase programs in fiscal 2025, demonstrating a continued focus on returning capital to shareholders.

The company acknowledges that investor advocacy groups, investors, customers, regulators, Associates, and other stakeholders have increasingly focused on social impact, environmental sustainability, human capital management, human rights and other related matters.

The company is subject to evolving corporate governance and public disclosure regulations and expectations, including with respect to matters relating to environmental sustainability, human capital management, social compliance, and governance.

The company acknowledges that its ESG practices may not meet investor or other stakeholder expectations and standards, including related to climate change, environmental sustainability, human capital management, supply chain management, and human rights.

The company's business is affected by various economic conditions, including inflation, recession, unemployment levels, and availability of disposable income, which can impact consumer confidence and discretionary spending.

The company's business is affected by geopolitical uncertainty, war, terrorism, pandemics, supply chain disruptions, and political or social unrest, which may have significant effects on consumer confidence and spending.

The company's results may be affected by severe or unseasonable adverse weather, serious disruptions, catastrophic events or public health crises, which could disrupt operations and impact customer spending.