MEDIA CONTACT:
Laura McDowell
Media Relations
508-390-2468
Sonya Cosentini
Media Relations
508.390.5337
Customer Contact
1.800.2TJMaxx
HEADQUARTERS:
T.J. Maxx (tjmaxx.com)
770 Cochituate Road
Framingham, MA 01701
(508) 390-1000
PARENT COMPANY:
The TJX Companies, Inc. (tjx.com)
THE T.J. MAXX CONCEPT:
T.J. Maxx, the nation's largest off-price retailer, sells brand name and designer fashions for the entire family and home at up to 60 percent less than department and specialty store prices, every day.
T.J. MAXX MERCHANDISE:
Brand name and designer apparel for women, men and children.
Accessories including handbags and luggage.
Giftware, domestics, women's shoes, fine jewelry (14-kt. gold and sterling silver), and children’s educational toys and books.
Over 95% first quality merchandise. Less than 5% of T.J. Maxx’s merchandise is slightly irregular with flaws usually unnoticeable to the customer. Irregulars provide a tremendous opportunity for the customer to receive additional savings and value. All irregular merchandise is clearly identified on the price tag.
Over 85% current season merchandise. Less than 15% are classic staple items bought at the end of the season and packed away for next season. (ie: basic jeans, white turtlenecks)
Over 10,000 new pieces of merchandise delivered to each store every week.
COMPANY GROWTH:
T.J. Maxx was founded in March 1976 and expanded into a national chain under the leadership of CEO and Chairman, Ben Cammarata. The company’s current CEO is Carol Meyrowitz.
T.J. Maxx currently operates more than 850 stores in 48 states. The company employs approximately 30,000 associates.
T.J. Maxx's expansion plan includes opening approximately 30 stores for the next several years.
GROWTH OF THE OFF-PRICE INDUSTRY:
Off-price retailing grew in the recession of the mid-'70s when consumers had limited discretionary income.
Consumers wanted to save money without sacrificing quality and fashion. Shopping "off-price" provided the perfect solution.
Through the years, the off-price industry has continued to grow. The recession of the early '90s reinforced consumers' value-oriented ; mentality and heightened the demand for quality fashions at reasonable prices.
HOW T.J. MAXX DELIVERS VALUE:
T.J. Maxx conducts all aspects of its business with an off-price mentality. Specifically, T.J. Maxx is able to deliver brand name and designer merchandise for low prices because of the following factors:
1.) Tremendous Buying Power and Experienced Buyers: T.J. Maxx buyers purchase merchandise for the largest off-price chain in the nation giving them significant buying power in the retail marketplace. Manufacturers know that T.J. Maxx buyers purchase in very large quantities, make on-the-spot buying decisions and make prompt payments. Additionally, T.J. Maxx buyers never return unsold merchandise to vendors. Once T.J. Maxx owns the merchandise, it either sells it or donates it to charity.T.J. Maxx buyers have years of off-price buying experience and solid relationships with more than 10,000 vendors around the world which assures access to merchandise that meets the company’s strict specifications for fashion, quality, price and consumer appeal.
2.) Low Store Overhead: From real estate decisions to every day operating expenses, T.J. Maxx keeps overhead costs low. For instance, T.J. Maxx stores are typically located in suburban strip centers where overhead costs are lower than higher-priced mall locations. Inside the store, T.J. Maxx includes neat fashion displays and individual fitting rooms, but forgoes expensive mannequins and fancy fixtures. Additionally, all store operating costs are keenly negotiated -- from the wax on the floor to the signs on the door. All of these savings are passed on to the customer through lower merchandise costs.
3.) Company-Owned Distribution Facilities: Manufacturers ship merchandise directly to T.J. Maxx’s five distribution centers (Evansville, IN; Worcester, MA; Las Vegas, NV, Pittston, PA and Charlotte, NC), where ticketing, sorting and distribution occurs. Strict control of the distribution process allows T.J. Maxx to keep costs low and ensure its stores are always stocked with fresh brand name and designer merchandise.
OFF-PRICE VS. DEPARTMENT STORES:
T.J. Maxx and department stores offer the same brand name and designer merchandise. Department stores, however, conduct sales on Merchandise is marked down for a limited time and then returned to its original price once the sale is over. T.J. Maxx offers great values on all of its merchandise every day.
OFF-PRICE VS. DISCOUNT STORES:
Off-price stores sell brand name and designer merchandise, while discount stores primarily sell private label merchandise. The difference between the two is in the relative value of the merchandise. For example, a private label blouse selling at a discount store for $19.99 was manufactured to sell at that price. At T.J. Maxx, a brand name or designer blouse selling for $19.99 was manufactured to sell at ; approximately $40.
STORE DESIGN:
Distinct signs, in-store displays and a well-designed store layout work together to create an "easy-to-shop" environment in each store. T.J. Maxx places great emphasis on having neat and attractive stores and maintains well-organized departments and merchandise displays.
CUSTOMER SERVICES:
Liberal return policy
Acceptance of major credit cards and personal checks
Toll-free customer service (1-800-926-6299)
Gift Cards
Fashion shows arranged with interested groups (contact local stores)
COMMUNITY INVOLVEMENT:
T.J. Maxx supports hundreds of non-profit organizations across the country including the Save the Children and Autism Speaks. Since T.J. Maxx has supported the domestic branch of Save the Children and currently provides assistance to more than 850 underprivileged children and their families.
For more information visit us on the web at tjx.com (parent company), or at tjmaxx.com.