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Press Release

The TJX Companies, Inc. Reports Strong January 2006 Sales and Updates View of Fourth Quarter Earnings; Announces Tax Benefit from Repatriation of Foreign Earnings and Early Adoption of Stock Option Expensing

FRAMINGHAM, Mass., Feb 02, 2006 (BUSINESS WIRE) -- The TJX Companies, Inc. (NYSE:TJX) today reported strong January sales and, as a result, now estimates that its earnings per share for the fourth quarter ended January 28, 2006, will exceed its previously disclosed range. In addition, the Company announced a one-time tax benefit from the repatriation of foreign earnings, as well as its decision to early-adopt stock option expensing, both of which will impact its fourth quarter ended January 28, 2006. Details on January sales as well as the impact of the one-time tax benefit and stock option expensing are provided below.

January 2006 Sales

Consolidated net sales for the four-week period ended January 28, 2006, were $946 million, up 11% over $853 million achieved during the four-week period ended January 29, 2005. For the 52 weeks ended January 28, 2006, sales reached $16.1 billion, an increase of 8% over $14.9 billion achieved last year. Consolidated comparable store sales for the four-week period ended January 28, 2006, were up 5% over the same period last year. For the 13-week fourth quarter, consolidated comparable store sales increased 3% above last year's fourth quarter. For the 52-week, year-to-date period, consolidated comparable store sales increased 2% over last year.

Ben Cammarata, Chairman and Acting Chief Executive Officer of The TJX Companies, Inc., stated, "Our comparable store sales increase of 5% in January exceeded our expectations and came on top of a 5% comparable store sales increase in January last year. Solid execution of off-price fundamentals, namely maintaining liquid inventories, making the right buys late in the season, and flowing fresh product at compelling values, led to a strong finish to the year. Inventories are in excellent shape as we enter the new year and we remain focused on driving profitable sales across all divisions of the Company."

Fourth Quarter Outlook

The Company expects that fourth quarter earnings per share will exceed its previously disclosed range of $.41 - $.43, before the net positive impact of the one-time tax benefit and stock option expensing described below.

Repatriation of Foreign Earnings

The Company also today announced that it expects to realize a one-time tax benefit from the repatriation of foreign earnings in the fourth quarter and the fiscal year ended January 28, 2006. The TJX Board of Directors approved the repatriation of approximately US$260 million of accumulated earnings from its Canadian subsidiary, Winners, which was completed during January 2006. Recent U.S. tax legislation allows multinationals a one-time opportunity to repatriate accumulated earnings from foreign subsidiaries at a significantly reduced income tax rate. As a result, TJX's repatriation of foreign earnings will result in a one-time tax benefit to net income of approximately $47 million, or $.10 per share, which the Company will recognize in the fourth quarter of the current fiscal year, ended January 28, 2006.

Early Adoption of Stock Option Expensing

Separately, The TJX Companies announced its early adoption of the Statement of Financial Accounting Standards (SFAS) No. 123R relating to accounting for stock based compensation in the fourth quarter of the current fiscal year, which the Company expects will reduce earnings per share by $.03 in the fourth quarter of fiscal 2006 and by $.12 for the full fiscal 2006 year. The Company has elected the modified retrospective transition method. Accordingly, prior period financial statements will be adjusted to reflect the effect of stock option expense on a consolidated basis, as previously disclosed in the pro forma footnote to the TJX financial statements. Additionally, segment data will be adjusted to reflect the related stock option expense. (See attached schedules.)

About The TJX Companies, Inc.

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 799 T.J. Maxx, 715 Marshalls, 251 HomeGoods and 152 A.J. Wright stores, as well as 35 Bob's Stores, in the United States. In Canada, the Company operates 174 Winners and 58 HomeSense stores, and in Europe, 197 T.K. Maxx stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com.

January and February 2006 Sales Recorded Calls

A recorded message with more detailed information regarding TJX's January 2006 sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, February 9, 2006. Additionally, the Company expects to release its February 2006 sales on Thursday, March 2, 2006, at approximately 8:15 a.m. ET. Concurrent with that press release, a recorded message with more detailed information regarding TJX's February sales results, operations and business trends will be available via the Internet at www.tjx.com, or by calling (703) 736-7248 through Thursday, March 9, 2006.

Fourth Quarter and Fiscal Year 2006 Conference Call

The Company expects to release fourth quarter and fiscal 2006 year-end earnings on Wednesday, February 22, 2006, before 9:30 a.m. ET. At 11:00 a.m. ET that day, Ben Cammarata, Chairman and Acting Chief Executive Officer, and Carol Meyrowitz, President of TJX, will hold a conference call with stock analysts to discuss the Company's fiscal 2006 results, operations and business trends, as well as expectations for fiscal 2007. A real-time webcast of the call will be available at www.tjx.com. A replay of the call will also be available at www.tjx.com or by dialing (800) 216-3035 through Wednesday, March 1, 2006.

Archived versions of the Company's recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone.

SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in this release are forward-looking and involve a number of risks and uncertainties. All statements that address activities, events or developments that we intend, expect or believe may occur in the future, including projections of earnings per share and same store sales, are forward-looking statements. The following are some of the factors that could cause actual results to differ materially from the forward-looking statements: our ability to continue successful expansion of our store base; risks of expansion; our ability to successfully implement our opportunistic inventory strategies and to effectively manage our inventories; consumer confidence, demand, spending habits and buying preferences; effects of unseasonable weather; competitive factors; factors affecting availability of store and distribution center locations on suitable terms; factors affecting our recruitment and employment of associates; factors affecting expenses; success of our acquisition and divestiture activities; our ability to successfully implement technologies and systems and protect data; our ability to continue to generate adequate cash flows; availability and cost of financing; general economic conditions, including gasoline prices; potential disruptions due to wars, natural disasters and other events beyond our control; changes in currency and exchange rates; import risks; adverse outcomes for any significant litigation; changes in laws and regulations and accounting rules and principles; effectiveness of internal controls; and other factors that may be described in our filings with the Securities and Exchange Commission. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized.

The TJX Companies, Inc.
       Financial Summary - As Reported and as Adjusted for 123R
      Three Fiscal Years Ended January 2003 through January 2005

AS REPORTED                     As Reported for the Fiscal Year Ended
                                -------------------------------------
                                January 29,  January 31,  January 25,
                                       2005         2004         2003
                                -----------  -----------  -----------
                                               53 Weeks

Net Sales                       $14,913,483  $13,327,938  $11,981,207
                                ===========  ===========  ===========

Income before provision for
 income taxes                     1,079,693    1,068,326      937,724
Provision for income taxes          415,549      409,961      359,336
                                -----------  -----------  -----------

Net Income                      $   664,144  $   658,365  $   578,388
                                ===========  ===========  ===========

Net income per share:
   Basic                        $      1.36  $      1.30  $      1.09
   Diluted                      $      1.30  $      1.25  $      1.05



AS ADJUSTED FOR 123R            As Adjusted for the Fiscal Year Ended
                                -------------------------------------
                                January 29,  January 31,  January 25,
                                       2005         2004         2003
                                -----------  -----------  -----------
                                              53 Weeks

Net Sales                       $14,913,483  $13,327,938  $11,981,207
                                ===========  ===========  ===========

Income before provision for
 income taxes                       988,951      986,738      871,514
Provision for income taxes          379,252      377,326      332,852
                                -----------  -----------  -----------

Net Income                      $   609,699  $   609,412  $   538,662
                                ===========  ===========  ===========

Net income per share:
   Basic                        $      1.25  $      1.20  $      1.01
   Diluted                      $      1.21  $      1.16  $      0.98


IMPACT OF STOCK COMPENSATION
 ADJUSTMENT ON:

Income before provision for
 income taxes                   $    90,742  $    81,588  $    66,210

Net Income                      $    54,445  $    48,953  $    39,726

Net income per share:
   Basic                        $      0.11  $      0.10  $      0.08
   Diluted                      $      0.09  $      0.09  $      0.07


                        The TJX Companies, Inc.
      Segment Information - As Reported and as Adjusted for 123R
      Three Fiscal Years Ended January 2003 through January 2005

AS REPORTED                      As Reported for the Fiscal Year Ended
                                   -----------------------------------
                                  January 29, January 31, January 25,
                                         2005        2004        2003
                                   ----------  ----------  ----------
                                                53 Weeks
Segment Profit (loss)
    Marmaxx                        $1,023,524  $  961,632  $  887,944
    Winners and HomeSense             108,884     106,745      85,301
    T.K. Maxx                          70,724      59,059      43,044
    HomeGoods                          23,132      49,836      32,128
    A.J. Wright                       (15,032)      1,692     (12,566)
    Bob's Stores                      (17,269)     (4,970)          0
                                   ----------  ----------  ----------
                                    1,193,963   1,173,994   1,035,851

General corporate expense              88,513      78,416      72,754
Interest expense, net                  25,757      27,252      25,373
                                   ----------  ----------  ----------

Income before provision for
 income taxes                      $1,079,693  $1,068,326  $  937,724
                                   ==========  ==========  ==========



AS ADJUSTED FOR 123R             As Adjusted for the Fiscal Year Ended
                                   -----------------------------------
                                  January 29, January 31, January 25,
                                         2005        2004        2003
                                   ----------  ----------  ----------
                                                53 Weeks
Segment Profit (loss)
    Marmaxx                        $  982,082  $  922,907  $  856,514
    Winners and HomeSense              99,701      98,928      79,573
    T.K. Maxx                          63,975      53,655      39,205
    HomeGoods                          18,148      45,388      28,607
    A.J. Wright                       (19,626)     (2,125)    (15,363)
    Bob's Stores                      (18,512)     (5,025)          0
                                   ----------  ----------  ----------
                                    1,125,768   1,113,728     988,536

General corporate expense             111,060      99,738      91,649
Interest expense, net                  25,757      27,252      25,373
                                   ----------  ----------  ----------

Income before provision for
 income taxes                      $  988,951  $  986,738  $  871,514
                                   ==========  ==========  ==========


ALLOCATION OF PRE-TAX STOCK COMPENSATION ADJUSTMENT

    Marmaxx                        $   41,442  $   38,725  $   31,430
    Winners and HomeSense               9,183       7,817       5,728
    T.K. Maxx                           6,749       5,404       3,839
    HomeGoods                           4,984       4,448       3,521
    A.J. Wright                         4,594       3,817       2,797
    Bob's Stores                        1,243          55           0
    General Corporate expense          22,547      21,322      18,895
                                   ----------  ----------  ----------

       Total adjustment            $   90,742  $   81,588  $   66,210
                                   ==========  ==========  ==========


                        The TJX Companies, Inc.
      Financial Summary - As Reported and as Adjusted for 123R
    Quarterly results for the Fiscal Year Ended January 28, 2006


AS REPORTED                       Quarterly results as reported for
                                the Fiscal Year Ended January 28, 2006
                                 ------------------------------------
                                    First      Second        Third
                                  Quarter     Quarter      Quarter
                                    Ended       Ended        Ended
                                 April 30,    July 30,  October 29,
                                      2005        2005         2005
                                 ----------  ----------  ----------

Net Sales                        $3,651,830  $3,647,866  $4,041,912
                                 ==========  ==========  ==========

Income before provision for
 income taxes                       242,718     200,491     279,344
Provision for income taxes           93,374      77,350     108,181
                                 ----------  ----------  ----------

Net Income                       $  149,344  $  123,141  $  171,163
                                 ==========  ==========  ==========

Net Income per share:
   Basic                         $     0.31  $     0.26  $     0.37
   Diluted                       $     0.30  $     0.25  $     0.36



AS ADJUSTED FOR 123R              Quarterly results as adjusted for
                                the Fiscal Year Ended January 28, 2006
                                 ------------------------------------
                                    First      Second        Third
                                  Quarter     Quarter      Quarter
                                    Ended       Ended        Ended
                                 April 30,    July 30,  October 29,
                                      2005        2005         2005
                                 ----------  ----------  ----------

Net Sales                        $3,651,830  $3,647,866  $4,041,912
                                 ==========  ==========  ==========

Income before provision for
 income taxes                       219,780     179,945     257,316
Provision for income taxes           84,199      69,131     101,991
                                 ----------  ----------  ----------

Net Income                       $  135,581  $  110,814  $  155,325
                                 ==========  ==========  ==========

Net Income per share:
   Basic                         $     0.28  $     0.24  $     0.34
   Diluted                       $     0.28  $     0.23  $     0.32


IMPACT OF STOCK COMPENSATION ADJUSTMENT ON:

Income  before provision for
 income taxes                    $   22,938  $   20,546  $   22,028

Net Income                       $   13,763  $   12,327  $   15,838

Net Income per share:
   Basic                         $     0.03  $     0.02  $     0.03
   Diluted                       $     0.02  $     0.02  $     0.04



                        The TJX Companies, Inc.
     Segment Information - As Reported and as Adjusted for 123R
         By Quarter for the Fiscal Year Ended January 28, 2006

AS REPORTED                             Quarterly results as reported
                                          for the Fiscal Year Ended
                                               January 28, 2006
                                        -----------------------------
                                          First    Second       Third
                                        Quarter   Quarter     Quarter
                                          Ended     Ended       Ended
                                       April 30,  July 30, October 29,
                                            2005      2005        2005
                                        --------  --------  --------

Segment Profit (loss)
    Marmaxx                             $267,660  $211,581  $251,104
    Winners and HomeSense                 12,344    20,567    52,237
    T.K. Maxx                               (341)   10,484    22,679
    HomeGoods                                623    (3,700)    8,053
    A.J. Wright                           (2,960)   (1,587)   (2,466)
    Bob's Stores                          (6,523)   (8,743)   (6,736)
                                        --------  --------  --------
                                         270,803   228,602   324,871

General corporate expense                 22,049    20,194    35,408
Interest expense, net                      6,036     7,917    10,119
                                        --------  --------  --------

Income before provision for income
 taxes                                  $242,718  $200,491  $279,344
                                        ========  ========  ========



AS ADJUSTED FOR 123R                    Quarterly results as adjusted
                                          for the Fiscal Year Ended
                                               January 28, 2006
                                        -----------------------------
                                         First    Second        Third
                                       Quarter   Quarter      Quarter
                                         Ended     Ended        Ended
                                      April 30,  July 30,  October 29,
                                           2005      2005         2005
                                        --------  --------  --------

Segment Profit (loss)
    Marmaxx                             $257,485  $202,295  $242,514
    Winners and HomeSense                  9,892    18,563    50,036
    T.K. Maxx                             (2,236)    9,023    20,924
    HomeGoods                               (666)   (4,739)    6,921
    A.J. Wright                           (4,173)   (2,709)   (3,561)
    Bob's Stores                          (6,986)   (9,155)   (7,249)
                                        --------  --------  --------
                                         253,316   213,278   309,585

General corporate expense                 27,500    25,416    42,150
Interest expense, net                      6,036     7,917    10,119
                                        --------  --------  --------

Income before provision for income
 taxes                                  $219,780  $179,945  $257,316
                                        ========  ========  ========




ALLOCATION OF PRE-TAX STOCK COMPENSATION ADJUSTMENT

    Marmaxx                             $ 10,175  $  9,286  $  8,590
    Winners and HomeSense                  2,452     2,004     2,201
    T.K. Maxx                              1,895     1,461     1,755
    HomeGoods                              1,289     1,039     1,132
    A.J. Wright                            1,213     1,122     1,095
    Bob's Stores                             463       412       513
    General Corporate expense              5,451     5,222     6,742
                                        --------  --------  --------

       Total adjustment                 $ 22,938  $ 20,546  $ 22,028
                                        ========  ========  ========


                        The TJX Companies, Inc.
      Financial Summary - As Reported and as Adjusted for 123R
    Quarterly results for the Fiscal Year Ended January 29, 2005


AS REPORTED            Quarterly results as reported for the Fiscal
                                Year Ended January 29, 2005
                      ----------------------------------------------
                        First        Second       Third      Fourth
                      Quarter       Quarter     Quarter     Quarter
                        Ended         Ended       Ended       Ended
                        May 1,      July 31, October 30, January 29,
                          2004          2004        2004        2005
                      ----------  ----------  ----------  ----------

Net Sales             $3,352,737  $3,414,287  $3,817,350  $4,329,109
                      ==========  ==========  ==========  ==========

Income before
 provision for income
 taxes                   274,334     193,336     327,124     284,899
Provision for income
 taxes                   106,222      75,094     126,269     107,964
                      ----------  ----------  ----------  ----------

Net Income            $  168,112  $  118,242  $  200,855  $  176,935
                      ==========  ==========  ==========  ==========

Net Income per share:
   Basic              $     0.34  $     0.24  $     0.41  $     0.37
   Diluted            $     0.32  $     0.23  $     0.40  $     0.35



AS ADJUSTED FOR 123R   Quarterly results as adjusted for the Fiscal
                                Year Ended January 29, 2005
                      -----------------------------------------------
                         First       Second       Third      Fourth
                       Quarter      Quarter     Quarter     Quarter
                         Ended        Ended       Ended       Ended
                         May 1,     July 31, October 30, January 29,
                           2004         2004        2004        2005
                      ----------  ----------  ----------  ----------

Net Sales             $3,352,737  $3,414,287  $3,817,350  $4,329,109
                      ==========  ==========  ==========  ==========

Income before
 provision for income
 taxes                   252,355     172,351     300,300     263,945
Provision for income
 taxes                    97,431      66,998     115,858      98,965
                      ----------  ----------  ----------  ----------

Net Income            $  154,924  $  105,353  $  184,442  $  164,980
                      ==========  ==========  ==========  ==========

Net Income per share:
   Basic              $     0.31  $     0.21  $     0.38  $     0.34
   Diluted            $     0.30  $     0.21  $     0.37  $     0.33


IMPACT OF STOCK COMPENSATION ADJUSTMENT ON:

Income  before
 provision for income
 taxes                $   21,979  $   20,985  $   26,824  $   20,954

Net Income            $   13,188  $   12,889  $   16,413  $   11,955

Net Income per share:
   Basic              $     0.03  $     0.03  $     0.03  $     0.03
   Diluted            $     0.02  $     0.02  $     0.03  $     0.02



                        The TJX Companies, Inc.
     Segment Information - As Reported and as Adjusted for 123R
        By Quarter for the Fiscal Year Ended January 29, 2005

AS REPORTED            Quarterly results as reported for the Fiscal
                                Year Ended January 29, 2005
                     -----------------------------------------------
                      First       Second         Third       Fourth
                    Quarter      Quarter       Quarter      Quarter
                      Ended        Ended         Ended        Ended
                      May 1,     July 31,   October 30,  January 29,
                        2004         2004          2004         2005
                     --------    ---------     --------     --------

Segment Profit
 (loss)
    Marmaxx          $271,914    $ 202,582     $284,329     $264,699
    Winners and
     HomeSense         24,393       21,101       39,002       24,388
    T.K. Maxx           1,943        9,533       29,828       29,420
    HomeGoods           5,161         (626)      11,753        6,844
    A.J. Wright        (2,953)      (3,239)      (5,773)      (3,067)
    Bob's Stores        1,250       (8,231)      (2,392)      (7,896)
                     --------    ---------     --------     --------
                      301,708      221,120      356,747      314,388

General corporate
 expense               20,791       20,791       22,489       24,442
Interest expense,
 net                    6,583        6,993        7,134        5,047
                     --------    ---------     --------     --------

Income before
 provision for
 income taxes        $274,334    $ 193,336     $327,124     $284,899
                     ========    =========     ========     ========


AS ADJUSTED FOR 123R    Quarterly results as adjusted for the Fiscal
                                 Year Ended January 29, 2005
                     -----------------------------------------------
                      First       Second         Third       Fourth
                    Quarter      Quarter       Quarter      Quarter
                      Ended        Ended         Ended        Ended
                      May 1,     July 31,   October 30,  January 29,
                        2004         2004          2004         2005
                     --------    ---------     --------     --------

Segment Profit
 (loss)
    Marmaxx          $261,695    $ 192,798     $272,260     $255,329
    Winners and
     HomeSense         22,158       19,045       36,277       22,221
    T.K. Maxx             313        8,079       27,802       27,781
    HomeGoods           3,937       (1,758)      10,275        5,694
    A.J. Wright        (4,020)      (4,271)      (7,148)      (4,187)
    Bob's Stores        1,046       (8,435)      (2,822)      (8,301)
                     --------    ---------     --------     --------
                      285,129      205,458      336,644      298,537

General corporate
 expense               26,191       26,114       29,210       29,545
Interest expense,
 net                    6,583        6,993        7,134        5,047
                     --------    ---------     --------     --------

Income before
 provision for
 income taxes        $252,355    $ 172,351     $300,300     $263,945
                     ========    =========     ========     ========




ALLOCATION OF PRE-TAX STOCK COMPENSATION ADJUSTMENT

    Marmaxx          $ 10,219    $   9,784     $ 12,069     $  9,370
    Winners and
     HomeSense          2,235        2,056        2,725        2,167
    T.K. Maxx           1,630        1,454        2,026        1,639
    HomeGoods           1,224        1,132        1,478        1,150
    A.J. Wright         1,067        1,032        1,375        1,120
    Bob's Stores          204          204          430          405
    General
     Corporate
     expense            5,400        5,323        6,721        5,103
                     --------    ---------     --------     --------

       Total
        adjustment   $ 21,979    $  20,985     $ 26,824     $ 20,954
                     ========    =========     ========     ========



                        The TJX Companies, Inc.
      Financial Summary - As Reported and as Adjusted for 123R
    Quarterly results for the Fiscal Year Ended January 31, 2004


AS REPORTED           Quarterly results as reported for the Fiscal
                               Year Ended January 31, 2004
                     -----------------------------------------------
                        First     Second        Third       Fourth
                      Quarter    Quarter      Quarter      Quarter
                        Ended      Ended        Ended        Ended
                     April 26,   July 26,  October 25,  January 31,
                          2003       2003         2003         2004
                     ----------  ----------  ----------  ----------
                                                         (14 Weeks)

Net Sales            $2,788,705  $3,046,184  $3,387,452  $4,105,597
                     ==========  ==========  ==========  ==========

Income before
 provision for income
 taxes                  185,206     201,080     300,031     382,009
Provision for income
 taxes                   71,675      77,818     117,198     143,270
                     ----------  ----------  ----------  ----------

Net Income           $  113,531  $  123,262  $  182,833  $  238,739
                     ==========  ==========  ==========  ==========

Net Income per share:
   Basic             $     0.22  $     0.24  $     0.36  $     0.48
   Diluted           $     0.21  $     0.23  $     0.35  $     0.46



AS ADJUSTED FOR 123R  Quarterly results as adjusted for the Fiscal
                               Year Ended January 31, 2004
                     -----------------------------------------------
                         First     Second        Third       Fourth
                       Quarter    Quarter      Quarter      Quarter
                         Ended      Ended        Ended        Ended
                      April 26,   July 26,  October 25,  January 31,
                           2003       2003         2003         2004
                     ----------  ----------  ----------  -----------
                                                         (14 Weeks)

Net Sales            $2,788,705  $3,046,184  $3,387,452  $4,105,597
                     ==========  ==========  ==========  ==========

Income before
 provision for income
 taxes                  165,573     181,463     278,326     361,376
Provision for income
 taxes                   63,821      69,972     108,516     135,017
                     ----------  ----------  ----------  ----------

Net Income           $  101,752  $  111,491  $  169,810  $  226,359
                     ==========  ==========  ==========  ==========

Net Income per share:
   Basic             $     0.20  $     0.22  $     0.34  $     0.45
   Diluted(A)        $     0.19  $     0.21  $     0.32  $     0.43


IMPACT OF STOCK COMPENSATION ADJUSTMENT ON:

Income  before
 provision for income
 taxes               $   19,633  $   19,617  $   21,705  $   20,633

Net Income           $   11,779  $   11,771  $   13,023  $   12,380

Net Income per share:
   Basic             $     0.02  $     0.02  $     0.02  $     0.03
   Diluted           $     0.02  $     0.02  $     0.03  $     0.03

(A) In accordance with EITF N0. 04-08, the pro forma diluted earnings
per share for the fiscal year ended January 31, 2004 have been
adjusted for the impact of the shares associated with TJX's
contingently convertible debentures.



                        The TJX Companies, Inc.
     Segment Information - As Reported and as Adjusted for 123R
        By Quarter for the Fiscal Year Ended January 31, 2004

AS REPORTED            Quarterly results as reported for the Fiscal
                                Year Ended January 31, 2004
                      -----------------------------------------------
                         First      Second         Third      Fourth
                       Quarter     Quarter       Quarter     Quarter
                         Ended       Ended         Ended       Ended
                      April 26,    July 26,   October 25, January 31,
                           2003        2003          2003        2004
                       ---------    --------    --------    --------
                                                           (14 Weeks)
Segment Profit (loss)
    Marmaxx             $193,885    $191,800    $264,878    $311,069
    Winners and
     HomeSense            11,793      18,138      36,295      40,519
    T.K. Maxx                916       8,184      17,507      32,452
    HomeGoods              4,532       6,114      16,438      22,752
    A.J. Wright           (2,345)      1,839      (1,913)      4,111
    Bob's Stores               0           0           0      (4,970)
                        --------    --------    --------    --------
                         208,781     226,075     333,205     405,933

General corporate
 expense                  16,597      17,767      25,944      18,108
Interest expense, net      6,978       7,228       7,230       5,816
                        --------    --------    --------    --------

Income before
 provision for income
 taxes                  $185,206    $201,080    $300,031    $382,009
                        ========    ========    ========    ========



AS ADJUSTED FOR 123R   Quarterly results as adjusted for the Fiscal
                                Year Ended January 31, 2004
                        --------------------------------------------
                         First      Second        Third       Fourth
                       Quarter     Quarter      Quarter      Quarter
                         Ended       Ended        Ended        Ended
                      April 26,    July 26,  October 25,  January 31,
                           2003        2003         2003         2004
                        --------    --------    --------    --------
                                                           (14 Weeks)
Segment Profit (loss)
    Marmaxx             $184,475    $182,390    $254,596    $301,446
    Winners and
     HomeSense             9,926      16,271      34,088      38,643
    T.K. Maxx               (387)      6,881      15,898      31,263
    HomeGoods              3,446       5,028      15,206      21,708
    A.J. Wright           (3,212)        972      (2,924)      3,039
    Bob's Stores               0           0           0      (5,025)
                        --------    --------    --------    --------
                         194,248     211,542     316,864     391,074

General corporate
 expense                  21,697      22,851      31,308      23,882
Interest expense, net      6,978       7,228       7,230       5,816
                        --------    --------    --------    --------

Income before
 provision for income
 taxes                  $165,573    $181,463    $278,326    $361,376
                        ========    ========    ========    ========




ALLOCATION OF PRE-TAX STOCK COMPENSATION ADJUSTMENT

    Marmaxx             $  9,410    $  9,410    $ 10,282    $  9,623
    Winners and
     HomeSense             1,867       1,867       2,207       1,876
    T.K. Maxx              1,303       1,303       1,609       1,189
    HomeGoods              1,086       1,086       1,232       1,044
    A.J. Wright              867         867       1,011       1,072
    Bob's Stores               0           0           0          55
    General Corporate
     expense               5,100       5,084       5,364       5,774
                        --------    --------    --------    --------

      Total
       adjustment       $ 19,633    $ 19,617    $ 21,705    $ 20,633
                        ========    ========    ========    ========

SOURCE: The TJX Companies, Inc.

The TJX Companies, Inc. 
Sherry Lang, Vice President
Investor and Public Relations
(508) 390-2323