A GLOBAL OFF-PRICE RETAILER
The TJX Companies, Inc., the leading off-price apparel and home fashions retailer in the U.S. and worldwide, is ranked 85 among Fortune 500 companies. At the end of 2018,1 the Company had $39 billion in revenues, more than 4,300 stores in 9 countries, 3 e-commerce sites, and approximately 270,000 Associates. We operate T.J. Maxx and Marshalls (combined, Marmaxx), HomeGoods, Sierra, and Homesense, as well as tjmaxx.com and sierra.com, in the U.S.; Winners, HomeSense, and Marshalls (combined, TJX Canada) in Canada; and T.K. Maxx in the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, as well as Homesense in the U.K. and Ireland and tkmaxx.com in the U.K. (combined, TJX International).
DELIVERING VALUE ACROSS THE GLOBE
We are the largest off-price retailer of apparel and home fashions worldwide and our mission is to deliver great value to our customers every day. We do this by offering a rapidly changing assortment of quality, fashionable, brand name, and designer merchandise generally 20% to 60% below full-price retailers’ (including department, specialty, and major online retailers) regular prices on comparable merchandise. With our value proposition, we reach a broad range of fashion- and value-conscious customers across many geographies, income levels, and demographic groups.
In our 40-plus year history as a Company, we have delivered steady sales and earnings growth while opening thousands of stores around the world. We have seen only one year with an annual comparable store sales decline. Further, 2018 marked our 23rd consecutive year of comparable store sales increases and our 22nd consecutive year of dividend increases. Our strong financial returns and cash generation allow us to simultaneously invest in the growth of the business and return cash to shareholders. Our disciplined approach to capital allocation resulted in a strong return on invested capital in 2018 and is one of the highest we have seen in the retail industry.2
We believe that we operate one of the most flexible business models in the world and that year after year, our great flexibility has enabled us to succeed through various economic and retail environments. Our stores have no walls between departments, which enables us to expand and contract merchandise categories to respond to market trends and changes in customer preferences. Our inventories turn rapidly, which allows us to buy close to need, with more visibility into current fashion and pricing trends. We source merchandise globally from a universe of over 21,000 vendors and more than 100 countries. We are constantly innovating and testing new ideas, seeking the right categories, current fashions and top brands, and leveraging information from our worldwide buying presence. Further, our financial strength gives us the ability to invest in the growth of the business. These are some of the key factors that give us great confidence in our ability to continue our successful growth around the world.