TJ Maxx 2004 Annual Report Download - page 7

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5
concepts.We buy opportunistically and close to need, taking
advantage of the abundant opportunities in the marketplace.
We maintain an inventory discipline that allows us to be nim-
ble in our navigation of the marketplace, following fashion
trends, not forcing the market.The expertise of our merchant
organization and their competitive intelligence give us the
ability to be right on fashion, right on timing, and right on
price, and to keep our contract with our customers to offer
great values on great fashions, every day.
A key component of our growth strategy is to ensure
that our T.J. Maxx and Marshalls chains are differentiated,
encouraging customers to shop both concepts. Our target
customer for both Marmaxx concepts is a middle to upper-
middle income shopper, who is fashion and value conscious
and fits the same profile as a department store shopper. Our
market analysis proves the power of this strategy — next to
T.J. Maxx, the number one shopping destination for our
T.J. Maxx customers is Marshalls, and vice versa.
Our major growth initiative for The Marmaxx Group
in 2004 was the expansion of our jewelry/accessories depart-
ments at T.J. Maxx [pictured here] and footwear departments
at Marshalls, which goes a long way to further differentiate these
chains.These initiatives drove overall sales increases in the
stores in which we expanded the departments and also increased