1 Meaning segment profit (generally pre-tax income before general corporate and net interest expense) for the sum of our reporting segments. See the notes to our filed financial statements for more detail.
2 Comparable store sales for fiscal years commencing in 2005 are on a constant currency basis. Prior years include the impact of foreign exchange to the extent it was applicable.
The TJX business model is built to have tremendous flexibility and grow with the times, enabling us to navigate through economic downturns and upturns as well as operate successfully across different geographies. In our 40-plus year history, we have achieved consistent, strong performance. In fact, during this period, we have had only one year with a comparable store sales decline. Over the last 22 years, we have delivered annual comparable store sales increases each year, solid earnings growth, and we have increased the dividend for 21 straight years. Our long, successful track record through many types of economic and retail environments is one of the reasons for our confidence that our strong performance can continue for many years to come.
We believe significant opportunity remains to deliver value to more consumers and gain market share across the globe. At TJX, value has been our mission since day one and we are convinced that our off-price combination of brand, fashion, price, and quality will continue to be a tremendous draw for consumers.
As we pursue our goals for global growth, our major strengths give us great confidence:
We see huge opportunity to gain even more market share around the world. Our primary growth strategies are:
To learn more about our major strengths and growth drivers, we invite you to explore the other key success factors in this section of our website.