TJX Companies

American multinational off-price department store corporation.

Categories

Retail and Consumer Goods  

#143

Rank

$96.04B

MarketCap US

US United States

Country

Summary

TJX Companies, Inc., together with its subsidiaries, operates as an off-price apparel and home fashion retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. 

The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewellery and accessories; and other merchandise. 

As of February 23, 2022, it operated 1,284 T.J. Maxx, 1,148 Marshalls, 850 HomeGoods, 59 Sierra, and 39 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com in the United States; 293 Winners, 147 HomeSense, and 106 Marshalls stores in Canada; 618 T.K. Maxx and 77 Homesense stores, as well as tkmaxx.com in Europe; and 68 T.K. Maxx stores in Australia. The company was incorporated in 1962 and is headquartered in Framingham, Massachusetts.


History

TJX Companies, Inc. is an American multinational off-price department store corporation headquartered in Framingham, Massachusetts. The company was founded in 1956 by Bernard Cammarata as Zayre Corporation, a discount retail chain that sold clothing, footwear, and housewares. In 1962, the company opened its first T.J. Maxx store in Auburn, Massachusetts, which would later become the company's flagship brand.

Throughout the 1970s and 1980s, Zayre Corporation continued to expand its discount retail operations and in 1989, it renamed itself as TJX Companies, Inc. The company went public in 1987 and its initial public offering was one of the largest in U.S. history at the time.

In the 1990s, TJX Companies continued to expand its operations and opened several new retail chains, including Marshalls and HomeGoods. The company also expanded internationally, opening stores in Canada and Europe.

Throughout the 2000s, TJX Companies continued to grow and diversify its business, acquiring several other retail chains including A.J. Wright and Bob's Stores. The company also continued to expand its international operations, opening stores in Australia and New Zealand.

In recent years, TJX Companies has continued to experience steady growth, with over 4,500 stores in nine countries as of 2021. The company has also invested in e-commerce, launching its online shopping platform, tjmaxx.com, in 2013.

TJX Companies has a long and successful history as a leading off-price retailer, and it continues to grow and innovate in the retail industry. Its commitment to providing high-quality merchandise at affordable prices has made it a popular choice among consumers, and its strong focus on sustainability and social responsibility has helped to solidify its position as a leader in the industry.


Mission

The TJX Companies' mission statement is "to deliver great value to our customers every day". This mission statement reflects the company's commitment to providing high-quality merchandise at affordable prices, which has been a key part of its business model since its inception.

In addition to delivering value to customers, the company also places a strong emphasis on treating its associates, vendors, and communities with integrity and respect. TJX Companies believes that by operating with integrity and a commitment to social responsibility, it can create long-term value for its stakeholders and contribute to the sustainability of the communities in which it operates.

TJX Companies' mission is to be a leader in the off-price retail industry by delivering value, maintaining strong relationships with stakeholders, and operating with integrity and social responsibility.


Vision

The TJX Companies' vision is "to be the leading off-price retailer of apparel and home fashions in the U.S. and worldwide."

This vision statement reflects the company's ambition to continue growing its business and expanding its presence in the retail industry. The company has already established itself as a major player in the off-price retail market, but its vision is to maintain this position and continue to grow its market share.

TJX Companies' vision also emphasizes its commitment to offering a wide variety of merchandise at affordable prices. By continuing to offer high-quality products at discounted prices, the company aims to attract and retain a loyal customer base and further solidify its position as a leader in the off-price retail industry.

TJX Companies' vision is to continue expanding its business while maintaining its commitment to providing customers with high-quality merchandise at unbeatable prices.


Key Team

Scott Goldenberg (Senior Exec VP/CFO)

David T. Ching (Board Member)

Alan M. Bennett (Board Member)

C. Kim Goodwin (Board Member)

John F. O'Brien (Board Member)

Kenneth Canestrari (Senior Executive Vice President, Group President)

Richard Sherr (Senior Executive Vice President, Group President)

José B. Alvarez (Board Member)

Mark Beyerly (Executive Vice President and Chief Information Officer)


Recognition and Awards
Fortune 500, Fortune Global 500, TJX has been consistently recognized for its ethical business practices and strong commitment to employees, communities and the environment. The company has earned numerous awards, including the Alliance for Workplace Excellence; the Human Rights Campaign Diversity Leader Award; and the Diversity Excellence Award.

Products and Services

The TJX Companies' main product is discounted, brand-name merchandise in the categories of apparel, home fashions, and other consumer goods. The company's business model is based on offering these products at prices up to 60% off department and specialty store regular prices, which allows customers to purchase high-quality merchandise at affordable prices.

The company operates a variety of retail chains that offer these products, including T.J. Maxx, Marshalls, HomeGoods, HomeSense, Winners, Sierra, and Trade Secret. Each of these chains focuses on a specific category of merchandise, such as clothing, home decor, or outdoor gear.

In addition to its physical retail stores, TJX Companies also offers online shopping through its e-commerce site, tjmaxx.com. Customers can browse and purchase merchandise online, which can then be shipped directly to their homes or picked up at a nearby store.

TJX Companies' main product and service is offering high-quality, brand-name merchandise at discounted prices through its network of retail stores and e-commerce site.


References
TJX Companies
Leadership team

Bernard Cammarata (Board Member)

Carol M. Meyrowitz (Executive Chairman)

Industries

Retail and Consumer Goods

Products/ Services
Clothing, footwear, bedding, food, furniture, jewelry, beauty products, housewares
Number of Employees
Above 50,000
Headquarters
Framingham, Massachusetts, U.S.
Established
1987
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000814445
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
TJX
Social Media

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Sat Mar 02 2024
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