TJ Maxx 2009 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 2009 TJ Maxx annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 101

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101

leverage on infrastructure costs. We also
lever costs as our more established businesses
continue to add stores to their chains, and in
Europe, we are strengthening the bottom line
as we expand because we are spreading costs
across a wider European store base.
OUR VISION FOR
PROFITABLE GROWTH
Prioritizing Investments
Our vision is to grow TJX as a global o-
price/value Company. As always, we will take
a strategic, deliberate approach to growth,
prioritizing investments in businesses with the
strongest nancial performance and opportu-
nities. In 2010, we are prioritizing the growth
of Marmaxx and TJX Europe. Marmaxx
delivered excellent results in 2009, with
comparable store sales up a strong 7% and
segment prot margin reaching an all-time
high of 12%. Today, we believe T.J. Maxx
and Marshalls are more dierentiated than
ever before, giving customers more reasons to
shop both chains. With the changing retail
landscape, we have both big and small market
opportunities for Marmaxx. In 2010, we plan
to net 53 additional stores at T.J. Maxx and
Marshalls, combined. Longer term, we now
believe that Marmaxx has the potential to add
several hundred more stores.
In Europe, our business has developed
from a promising growth seed into a core
business over the last 15 years. T.K. Maxx
Our stores have no walls between departments, which allows us to shift
product assortments quickly as customers’ tastes change. This helps drive
business and also leads to higher merchandise margins.