TJ Maxx 2004 Annual Report Download - page 9

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7
Stepping Out with Shoe Expansions
the spotlight, Marshalls has become a footwear shopping des-
tination [pictured here], further differentiating this chain from
T.J. Maxx. Having tested several prototypes in 2003, we added
over 60 expanded footwear departments in 2004 to end the year
with nearly 70. Since this initiative requires,in many cases,phys-
ically expanding our stores, it will take longer to fully roll out
than the jewelry/accessories initiative at T.J. Maxx. Still, in the
upcoming year,we plan to add more than 50 expanded footwear
departments to new and existing stores, and continue the
Marshalls footwear roll-out beyond 2005.
As our successful expansion of jewelry, accessories and
footwear bears out,we have many innovative ways to continue
to grow our Marmaxx division beyond adding stores. That
said, we continue to have plenty of opportunities for store
growth. Our expertise in real estate and customer demo-
graphics allows us to locate stores near to where customers
live, in tight trading areas, often placing T.J. Maxx near
Marshalls, and vice versa, along with HomeGoods nearby, to
create off-price shopping destinations.We are excited about
the growth potential of our largest division,and are confident
in our ability to continue to successfully grow this business
in the near and long term.