TJ Maxx 2015 Annual Report Download - page 19

PART I
ITEM 1. Business
BUSINESS OVERVIEW
The TJX Companies, Inc. (TJX) is the leading off-price apparel and home fashions retailer in the
United States and worldwide. Our over 3,600 stores offer a rapidly changing assortment of quality, fashionable,
brand name and designer merchandise at prices generally 20% to 60% below department and specialty store
regular prices on comparable merchandise, every day.
Our stores are known for our value proposition of brand, fashion, price and quality. Our opportunistic buying
strategies and flexible business model differentiate us from traditional retailers. We offer a treasure hunt
shopping experience and a rapid turn of inventories relative to traditional retailers. Our goal is to create a sense
of excitement and urgency for our customers and encourage frequent customer visits. We acquire merchandise
in a variety of ways to support that goal. We reach a broad range of customers across many income levels and
other demographic groups with our value proposition. Our strategies and operations are synergistic across our
retail chains. As a result, we are able to leverage our expertise throughout our business, sharing information,
best practices, initiatives and new ideas, and to develop talent across our Company. We also leverage the
substantial buying power of our businesses in our global relationships with vendors.
Our Businesses. We operate our business in four major segments: Marmaxx and HomeGoods, both in the
U.S., TJX Canada and TJX International (formerly referred to as TJX Europe).
MARMAXX:
Our T.J. Maxx and Marshalls chains in the United States (referred to together as The Marmaxx Group or
Marmaxx) are collectively the largest off-price retailer in the United States with a total of 2,163 stores. We
founded T.J. Maxx in 1976 and acquired Marshalls in 1995. Both chains sell family apparel (including
footwear and accessories), home fashions (including home basics, accent furniture, lamps, rugs, wall décor,
decorative accessories and giftware) and other merchandise. We primarily differentiate T.J. Maxx and
Marshalls through different product assortment, including an expanded assortment of fine jewelry and
accessories and a designer section called The Runway at T.J. Maxx and a full line of footwear, a broader
men’s offering and a juniors’ department called The Cube at Marshalls, as well as varying in-store initiatives.
This differentiated shopping experience at T.J. Maxx and Marshalls encourages our customers to shop both
chains. Our e-commerce website, tjmaxx.com, was launched in 2013.
HOMEGOODS:
Our HomeGoods chain, introduced in 1992, is the leading off-price retailer of home fashions in the U.S.
Through its 526 stores, HomeGoods offers a broad array of home fashions, including home basics, giftware,
accent furniture, lamps, rugs, wall décor, seasonal items, decorative accessories from around the world and
other merchandise.
TJX CANADA:
Our TJX Canada segment operates the Winners, HomeSense and Marshalls chains in Canada. Acquired in
1990, Winners is the leading off-price apparel and home fashions retailer in Canada. The merchandise
offering at its 245 stores across Canada is comparable to T.J. Maxx, with select stores offering fine jewelry
and The Runway, a designer section. We opened our HomeSense chain in 2001, bringing the home fashions
off-price concept to Canada. HomeSense has 101 stores with a merchandise mix of home fashions similar
to HomeGoods. We brought Marshalls to Canada in 2011 and operate 41 Marshalls stores in Canada. As
with Marshalls in the U.S., our Canadian Marshalls stores offer an expanded footwear department and The
Cube juniors’ department, differentiating them from Winners stores.
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