Profile: The TJX Companies, Inc. (TJX)

The TJX Companies, Inc. (TJX) is an off-price retailer of apparel and home fashions in the United States and worldwide. TJX operates five business segments, three in the United States and one each in Canada and Europe. All of the Company’s stores, except HomeGoods and HomeSense, sell apparel for the entire family, including footwear, jewelry and accessories, and a limited offering of giftware and home fashions. The HomeGoods and HomeSense stores offer home fashions and home furnishings. During the fiscal year ended January 31, 2009 (fiscal 2009), TJX derived approximately 62% of its sales from clothing (including footwear), 25% from home fashions, and 13% from jewelry and accessories. In fiscal 2009, the Company sold Bob’s Stores, a branded apparel chain.

Of its United States-based store chains, T.J. Maxx and Marshalls, referred to as Marmaxx, are managed together and reported as a single segment, and A.J. Wright and HomeGoods each is reported as a separate segment. Outside the United States, its store chains in Canada (Winners and HomeSense) are reported as its Canadian segment and its store chains in Europe (T.K. Maxx and HomeSense) are reported as its European segment. The Company operates 13 distribution centers in the United States, two in Canada and four in the United Kingdom.

Marmaxx

T.J. Maxx and Marshalls are off-price retailers in the United States with 1,680 stores. Both chains sell family apparel (including footwear and accessories), home fashions (including home basics, accent furniture, lamps, rugs, wall decor, decorative accessories and giftware) and other merchandise, primarily targeting the middle to upper-middle income customers. The Company maintains the separate identities of T.J. Maxx and Marshalls through different product assortment (including an assortment of fine jewelry and accessories at T.J. Maxx, and a line of footwear and broader men’s and juniors’ offerings at Marshalls), in-store initiatives, marketing and store appearance. In fiscal 2009, Marshalls opened two free-standing ShoeMegaShop by Marshalls stores in the United States, which sell family footwear.

HomeGoods

HomeGoods is the Company’s off-price retailer of home fashions in the United States. Through 318 stores, it sells a range of home basics, giftware, accent furniture, lamps, rugs, wall decor, decorative accessories, children’s furniture, seasonal merchandise and other fashions for the home.

A.J. Wright

A.J. Wright sells off-price family apparel, home fashions and other merchandise. Catering to the entire family, apparel categories for A.J. Wright’s 135 stores include basics, children’s, women’s plus sizes, juniors, young men’s and footwear. A.J. Wright primarily targets the moderate-income customers.

Canada

Winners is an off-price apparel and home fashions retailer in Canada. The merchandise offering at its 202 stores across Canada is similar to T.J. Maxx and Marshalls. HomeSense offers home fashions off-price concept. The chain has 75 stores offering a merchandise mix of home fashions similar to HomeGoods. Winners opened two StyleSense stores in Canada in fiscal 2009, which sell family footwear and accessories.

Europe

T.K. Maxx is an off-price retailer of apparel and home fashions in Europe. With 235 stores, T.K. Maxx operates in the United Kingdom, Ireland and Germany. T.K. Maxx offers a merchandise mix similar to T.J. Maxx and Marshalls in the United States, and Winners in Canada. HomeSense offers the home fashions off-price concept in the United Kingdom. Its seven stores offer a merchandise mix of home fashions in the United Kingdom like that of HomeGoods in the United States and HomeSense in Canada.