TJ Maxx 2015 Annual Report Download - page 7

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Behind our amazing values is a world-class
buying organization that we believe is the best
in retail. We have dedicated nearly 40 years
to cultivating our merchandising talent and
improving our off-price buying processes.
Our buying team numbers more than
1,000 Associates, and our total
merchandising organization, which
includes our planning and allocation
group, is nearly double that size. Our
focus on teaching and training and our
passion for upholding our strong corporate culture have
created an environment where many of our merchants have
been with us for multiple decades.
We see ourselves as a global sourcing machine, with
buyers based in 11 countries across 4 continents, buying
merchandise from a universe that now numbers more
than 18,000 vendors in over 100 countries. We seek to
build long-term, mutually beneficial relationships with our
vendors, which has led to some of the strongest vendor
relationships in retail. With our global reach and vast
vendor universe, we have the flexibility to be nimble in
the marketplace, capitalize on the best merchandise
opportunities, and bring consumers new and exciting fash-
ions and brands. We are convinced that our constantly
fresh, eclectic mix of merchandise from around the globe
sets us apart from many other retailers.
Our global supply chain and distribution network have
been developed during almost four decades to support our
highly integrated, international business. Our proprietary
IT systems are designed to support the complexities of our
global, off-price model and opportunistic buying. Our
distribution network can efficiently process buys that are
very small or extremely large, from among thousands of
vendors, and precisely allocate that merchandise to the
right stores at the right time across our more than 3,600
stores. The flexibility of our global supply chain and
distribution network allows us to pursue hot merchandise
categories and shift our product selections rapidly to respond
to changing consumer preferences and market trends.
Our ability to capitalize on our global presence is
another major reason for our confidence. We have extensive
international experience and infrastructure, operating ten
chains in nine countries. We are the largest off-price retailer
in the U.S. and Canada and the only major brick-and-mortar,
off-price retailer in Europe and Australia. We operate highly
integrated, synergistic and flexible businesses across many
geographies. Each of our four large divisions is centered
around our value mission and we function as one TJX. We
take a “no walls” approach to communications, sharing ideas,
talent, initiatives, and best practices across all
divisions. We view our ability to leverage our
global presence as a major advantage in cap-
turing additional market share and continu-
ing to expand our international footprint.
Growing And Gaining
Market Share Profitably
We see tremendous potential to
continue achieving sales and market
share gains profitably well into the
future. Our growth strategy is focused on these key drivers:
driving customer traffic and comparable store sales,
global store growth, and new seeds and innovation.
DRIVING CUSTOMER TRAFFIC AND
COMPARABLE STORE SALES
We are extremely pleased with our significant increases
in customer traffic and comparable store sales in 2015
and are convinced that great opportunity remains to grow
our U.S. and international customer base. We believe
our U.S. consumer penetration levels remain below most
major department stores’ and the opportunity to expand
our reach in existing and new international markets is
huge. We reach a very wide customer demographic.
In 2015, we grew our customer base across all age
brackets and are particularly happy with the increases
among millennial shoppers across all our divisions,
which bodes well for our future.
To reach even more consumers, we are capitalizing
on our global marketing capabilities. During the
holiday season, we leveraged our tri-branded
campaigns across the U.S. and Canada, and we
utilized elements of our U.K. campaign in our
other European markets. In 2016, we will continue
our integrated marketing approach to engage with
shoppers through television, radio, digital, mobile,
and social media to further increase recognition
of our retail brands. To encourage more frequent
visits and cross shopping of our retail chains, we are
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