AMM

Submission
on
TJX
Submitted By:-
Harpreet Singh
 Brothers Max and Morris Feldberg founded New
England Trading Company in Boston, Massachusetts
in 1919.
 This business prospered and in 1929 the Feldbergs
opened their first retail store, devoted to selling
ladies hosiery
 20 years later, their one store had grown into a chain
of women's apparel stores that stretched from New
England to Washington D.C
 In 1977, The first two T.J. Maxx stores open in Auburn
and Worcester, Massachusetts, offering off-price,
upscale apparel for the whole family
1956 : Stanley & Sumner Feldberg opened first
Zayre discount store in Hyannis,
Massachusetts.
1977 : First T. J. Maxx in Auburn, Massachusetts.
1987 : Zayre’s off price chains are organized as
the TJX companies.
1990 : Acquired Winners Apparel Ltd.
“The king of off price - Forbes”
Address: USA, The TJX Companies, Inc.
770 Cochituate Road
Framingham, MA 01701
Address:

USA, The TJX Companies, Inc.

770 Cochituate Road
Framingham, MA 01701
"Our vision of TJX is as a global, off-price,
value Company. We remain focused on
driving profitable sales through sharp
execution of the fundamentals of our off-
price business model. "
 Mission
See potential for growing with 4300 stores
in new countries.
 19 billion $ turnover in 2007.
 2500 stores.
 130,000 associates.
Ranked 132 in Fortune 500.
 The leading off-price retailer of apparel and
home fashions in the United States and
worldwide
 7 segments, 8 stores, and 2062 points of sale
 Marmaxx-T.J. Maxx & Marshalls
 A.J. Wright
 Homegoods
 Bob’s Stores
 T.K. Maxx
 Winners
 HomeSense
Retail Chains Under TJX
 Opened in 1976.

 Largest off price retailer in US.

 20-60% price below departmental &

specialty store.

 847 stores at the end of 2007.

 Avg. area 30,000 sq. feet.

 Deals in apparel & home fashion

 Second largest in US & acquired by TJX in
1995.

 Similar to T. J. Maxx , it expanded shoe &

junior departments.

 At the end of 2007, have 776 stores.

 Avg. area 32,000 sq. feet.

 Acquired by TJX in 1990.

 191 stores in Canada at the end of 2007.

Plans to open 9 new stores in 2008.

 Family footwear, children’s apparel, home

fashion & men’s wear.

 Avg. area 29000 sq. feet.

 Opened in 2001. Now have 71 stores in
Canada. Plans to get 4 stores in 2008.

 Furniture, lamps, accessories & giftware.

 Operates standalone & superstore format

with Winners.

 Avg. area 28,000 sq. feet.

 Opened in 1994. The only major off price
retailer in Europe.

Have 226 stores across UK, Ireland &

Germany.

 Family apparel, home fashion, women’s

footwear & accessories.

 Plans to have 10 stores in Europe & 5 in

Germany In 2008.


 Opened in 1992. Now have 289 stores.
Plans to have 500 stores in future.

 Giftware, home basics, accent furniture,

lamps, accessories, children’s furniture, &
seasonal merchandise.

 Operates in standalone & superstore with

Marshalls and T. J. Maxx.

 Avg. area 27,000 sq. feet.

 Opened in 1998. Now have 129 stores &
plans to get 1000 stores in future.

 20-70% price below departmental & national

discount chains.

 Family apparel, home fashions, more

emphasis on footwear, juniors, and children’s
assortments.

 Avg. area 26,000 sq. feet.

 Acquired by TJX in 2003.

Value store, targets to upper middle income

group.

Casuals , footwear, work wear, active wear &

licensed team apparel.

 34 stores in Northeastern US.

 Avg. area 46,000 sq. feet.

Country Brand Total Primary Classification
No. Of
Stores
U.S. T.J. M axx 874 family apparel, women's shoes
and home fashions

footwear, broader men's selection

Marsha lls 806
basics, children’s, women’s plus
A. J. Ri ght 135 sizes, juniors apparel, young
men’s, and footwear

Canada Win ners 200 women's apparel, family footwear,

fine jewelry, children's apparel,
lingerie, accessories, home
fashions, and menswear

Europe T.K . M axx 235 family apparel, women's footwear,

lingerie, accessories, and home
fashion.
150%
 Target customer for their off-price
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,
 A.J. Wright, which reaches a more
moderate-income market.
 Bob’s Stores has a customer
demographic that spans the moderate to
upper-middle income range and a higher
percentage of males in its customer base.
 The firm’s debt is reasonable at 30% of
total capitalization.
 The company’s cashflow is solid, giving
management the opportunity to
redeploy capital in search of additional
growth.
 Buybacks have reduced TJX share
count by 31% since 1998, greatly
increasing earnings per share
SALES GROWTH

Ref:
EARNING PER SHARE

REF:https://www.researchandmarkets.com/reports/.../tjx_companies_i
nc_the_tjx_annual_report.pdf
 TJX Companies' major products include
womenswear, menswear, childrenswear,
homewear, gifts, lingerie

 Also offer shoes, fine jewelry, and accessories

at select Marmaxx and Winners locations

 The Homegoods and Homesense segments

offer giftware, accent furniture, lamps, rugs,
accessories, and seasonal merchandise for the
home

 Bob’s Stores offers family apparel and footwear

 Jeans
Tops
$ 9.99-16.99
$ 7.99-9.99

Polos
$ 7.99-16.99

Dresses Graphic Tees

$ 16.99-19.99 $ 7.99-12.99
As TJX Companies, Inc. is essentially
an “off-price retailers” , there is NO
as such buying or selling seasons.
 The company buys clothing that is on sale, such
as stock overruns or discontinued lines, and
passes these savings on to consumers
 TJX has a large “buying” department, which
stays in constant contact with manufacturers so
that they can take advantage of unexpected
opportunities.
 The company benefits manufacturers by taking
large quantities of unwanted merchandise off
their hands, and helps consumers by selling
quality apparel at 25% or more below retail
price.
 ENVIRONMENTAL RESPONSIBILITY
Reusable shopping bags are offered for a nominal
charge, giving customers who prefer not to use plastic
bags, a choice.
 Recycling cardboards.
 Energy management department.
 T5 fluorescent light, 50% less electricity.
Reducing no. of trucks & improving trailer loading
methods.
 January 17, 2007, TJX announced that it was the
victim of an unauthorized computer systems
intrusion. It discovered in mid-December 2006 that
its computer systems were compromised and
customer data was stolen. The hackers accessed a
system that stores data on credit card, debit card,
check, and merchandise return transactions.
 In August 2008, TJX sold Bob's Stores to Versa
Capital Management and Crystal Capital.
 Federated Department Stores, Inc.
 The May Department Stores Company
 Sears
 The Gap, Inc.
 Limited Brands, Inc.
 Ross Stores, Inc.
 Value City Department Stores, Inc.