T.J.X. Companies, Inc.
Final Case Study Report
T.J.X. Companies, Inc. is the leading off-price apparel and home fashions retailer in the United States and worldwide, ranking number 115 in the most recent Fortune 500 listings. They have the broadest demographic reaches in retail, all of which have enabled them to achieve successful, and profitable growth year after year, through many types of economic and retail cycles. With over 3,000 stores in six countries, approximately 179,000 associates and a fresh e-commerce presence, and they are growing faster than ever (“About the TJX Companies, Inc.,” 2014).
Through T.J.X. Company’s innovative buying and sourcing strategies, they discover and deliver value for shoppers in many ways. Their goal is to provide customers with quality merchandise for the entire family, every day. Value means more than price to T.J.X. Company professionals; buyers are trained to recognize that true value is a combination of fashion, quality, brand and price. T.J.X Companies are known for their brand name and designer fashions at 20-60% off department store prices. They are able to do this by purchasing merchandise from designers when they over produce or other department stores over purchase. They go in during these certain situations and negotiate the lowest possible price to pass on the savings. How they buy is just as important as what they buy. They pride themselves in never having the same selection twice with new arrivals every week (“About the TJX Companies, Inc.,” 2014).
The company operates in four segments: Marmaxx, HomeGoods, TJX Canada, and TJX Europe. Its apparel and home fashion chains sell family apparel, including footwear and accessories, fine jewelry and accessories; and home fashions comprising home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, and giftware, as well as other merchandise. T.J.X. Company operates its stores under the T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, T.K. Maxx, and Sierra Trading Post. As of February 1, 2014 the company operates 1,079 T.J. Maxx stores, 942 Marshalls stores, 450 HomeGoods stores, and 4 Sierra Trading Post stores in the United States. They also have 227 Winners, 91 HomeSense, and 27 Marshalls in Canada; 371 T.K. Maxx and 28 HomeSense stores in Europe (“About the TJX Companies, Inc.,” 2014).
The T.J.X. Companies, Inc. traces its history back to 1919 when two brothers Max and Morris Feldberg founded New England Trading Company in Boston, MA. Their business prospered and in 1929 the Feldbergs opened their first retail store, devoted to ladies hosiery. Twenty years later, their one store had grown into a chain of women’s apparel stores that stretched from New England to Washington D.C. With the next generation of Feldbergs, Stanley and Summer, set out to build upon what their father had established – creating the Zayre discount department store chain. Zayre stores stood for offering convenience, selection and outstanding value for the whole family. They opened their first T.J. Maxx in 1976 and B.J.’s Wholesale Club in 1984. In 1988 Zayre decided to sell their name to Ames, a competitor, and renamed itself The T.J.X. Companies, Incorporated. In 1990, T.J.X. entered the Canadian market by owning the five-store Winners chain, and was not only expanding into additional store brand divisions but also successfully expanded internationally. Today it is the leading off-price retailer of apparel and home fashions in the United States and Worldwide, offering great home fashions, quality, and brand names at excellence values (“Our History”, 2014).
At T.J.X. Companies they believe in doing business responsibly, meaning creating value for their shoppers, their associates and the community. They seek opportunities that benefit their business and the environment. Through in-store fundraising programs, local...
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