What is TJX Companies? TJX Companies Review, Features

What is TJX Companies? TJX Companies Review, Features

TJX Companies is an off-price retailer of apparel and home fashions in the United States and throughout the world, offering an ever-changing selection of high-quality, fashionable, brand name and designer merchandise at prices 20%-60% below full price, delivering great value to retailers (including department, specialty and major online retailers) every day, including regular prices on comparable merchandise.

About TJX Companies

TJX Companies owns TJ Maxx stores, Marshalls stores, and Winners Apparel Ltd. stores. Winners Apparel Ltd. stores is a Canadian chain of low-price home apparel and home fashions stores. The company also operates HomeGoods, a U.S. low-price home fashions chain; and TK Maxx, a low-price home apparel and home fashions chain in the United Kingdom, the Republic of Ireland, and the Netherlands. The company also operates AJ Wright, a new U.S. chain of low-price home apparel and home fashions stores.

TJX Company Development History

-In 1977, the first two TJ Maxx stores opened in Auburn and Worcester, Massachusetts;

-1987-1989 In 1987, Zayre formed a new entity called The TJX Companies, Inc., with the initial retail brands being TJ Maxx, Hit or Miss and Chadwick's of Boston; TJX became the successor company after Zayre's reorganization in 1989, with Ben Cammarata as CEO and President;

In 1990, TJX acquired Winners Apparel of Canada, a Toronto-based chain of five low-price family clothing stores. Over time, TJX grew the chain into Canada's largest discount retailer of family clothing and home fashions.

In 1992, TJX launched HomeGoods in the United States, offering an eclectic selection of home fashions from around the world.

In 1994, TJX launched TK Maxx, introducing the discount concept to the UK and then Ireland. Over time, TK Maxx became the only major brick-and-mortar, discount clothing and home fashions retailer in Europe.

-In 1995, TJX acquired Marshalls, the second largest discount retailer in the United States. Currently, Marshalls has 496 stores and offers branded family clothing, including a variety of footwear and menswear. TJ Maxx and Marshalls operate more than 1,000 stores nationwide. TJX sold the Hit or Miss chain to Hit or Miss management members and outside investors.

In 1996, TJX sold Chadwick's of Boston to focus more closely on the synergies between TJ Maxx and Marshalls and the successful development of its various discount store brands.

In 1998, TJX launched AJ Wright, a low-price concept similar to TJ Maxx and Marshalls but targeting a different consumer segment.

- In 2001, TJX launched HomeSense in Canada, introducing the concept of low-priced home fashion to the country. Similar to HomeGoods, HomeSense offers customers a variety of low-priced home fashion options;

In 2003, TJX acquired Bob's Stores, a 31-store, value-oriented casual family apparel and footwear retailer in the Northeastern United States.

- In 2007, TK Maxx opened stores in Germany, introducing the discount concept to the country;

- In 2008, TJX brought Homesense to the UK by opening its first store; TJX sold Bob's Stores to a private equity firm;

- In 2009, TK Maxx opened a store in Poland, continuing its expansion in Europe. TK Maxx launched its e-commerce website tkmaxx.com in the UK.

- In 2010, TJX announced the merger of the AJ Wright division;

In 2011, TJX launched one of its most successful brands, Marshalls, in Canada.

- In 2012, TJ Maxx opened its 1,000th store. TJX acquired Sierra Trading Post, a low-price Internet retailer in the United States (renamed Sierra in 2019);

- In 2013, TJ Maxx launched its e-commerce website tjmaxx.com;

- In 2014, TK Maxx celebrated its 20th anniversary in Europe; Sierra opened its first two physical stores after the acquisition, bringing this outdoor clothing online concept to more consumers;

In 2015, TJX acquired Trade Secret (renamed TK Maxx stores in 2017), an off-price retailer that operates 35 stores in Australia; TK Maxx continues to expand in Europe, opening stores in Austria and the Netherlands; Marshalls opens its 1,000th store in the U.S.; HomeGoods opens its 500th store;

- In 2016, TK Maxx opened its 500th store in Europe;

-In 2017, TJ Maxx celebrated its 40th anniversary; Homesense expanded in Europe, opening two stores in Ireland; Homesense opened its first store in the U.S.; TJX opened its 4,000th store; and HomeGoods celebrated its 25th anniversary;

- In 2018, Homesense celebrated its 10th anniversary in Europe;

-In 2019, Marshalls launched its e-commerce website, marshalls.com; TJX opened its 500th store in Canada;

- In 2020, the Canadian winner celebrated its 30th anniversary; Marshalls in the U.S. celebrated its 25th anniversary as a member of the TJX family of brands; In response to the COVID-19 global pandemic, TJX temporarily closed its stores, distribution centers, e-commerce sites and offices around the world; Beginning in the spring of 2020, TJX began to reopen while prioritizing the health and safety of its employees and customers, including temporarily closing stores when necessary;

- In 2021, HomeSense Canada celebrates its 20th anniversary, Marshalls Canada celebrates its 10th anniversary, and HomeGoods launches its e-commerce site homegoods.com

-In 2022, TJ Maxx celebrates its 45th anniversary; HomeGoods celebrates its 30th anniversary; Sierra celebrates 10 weeks as a member of the TJX family of brands; and TK Maxx celebrates its 15th anniversary in Germany.

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