TJ Maxx 2004 Annual Report Download - page 2

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The TJX Companies, Inc. is the largest apparel and home
fashions off-price retailer in the United States and world-
wide, operating eight businesses at 2004's year end, and
ranking 141st in the 2004 Fortune 500 rankings. TJX's
off-price concepts include T.J. Maxx, Marshalls,
HomeGoods, and A.J. Wright in the U.S., Winners and
HomeSense in Canada, and T.K. Maxx in Europe. Bob's
Stores is a value-oriented, family apparel retailer, with
stores in the northeastern U.S. Our off-price mission is to
deliver a rapidly changing assortment of quality, brand
name merchandise at prices that are 20 - 60% less than
department and specialty store regular prices, every day.
Our target customer for our off-price concepts is a mid-
dle- to upper-middle income shopper, who is fashion and
value conscious and fits the same profile as a department
store shopper, with the exception of A.J. Wright, which
reaches a more moderate-income market. Bob's Stores has
a customer demographic spanning the moderate to
upper-middle income range, with a higher percentage
of males in its customer base.
LONG-TERM STORE BASE POTENTIAL
MARMAXX
WINNERS
HOMESENSE
T.K. MAXX
HOMEGOODS
A.J. WRIGHT
TJX TOTAL
GROWTH POTENTIAL
STORES FYE 05
BOB’S STORES
SELECTED CASH FLOW DATA
($ MILLIONS)
CONSOLIDATED PERFORMANCE
557
01
NET CASH FROM
OPERATING
ACTIVITIES
02 03 04 05
912 909
771
1,468
257
PROPERTY
ADDITIONS
449
397 409 429
40
130
32
2,224
SHARE
REPURCHASES
01 02 03 04 05 01 02 03 04 05
444 424
482 521
595
NET SALES
($ BILLIONS)
SEGMENT PROFIT
($ MILLIONS)
82*83*91*02*05
(FYE)
*RECESSIONS
0
2
4
6
8
10
12
0
200
400
600
800
1,000
1,200
1,800
168
216
(FYE)
14
16
1,400
1,600
DILUTED EARNINGS PER SHARE
(CONTINUING OPERATIONS)
$0.93 $0.96
$1.05
$1.25
$1.30
(FYE)
01 02 03 04 05
200
80
300
170
4,430
400
1,000+
650
1,080