Overview
TJX Companies, Inc. is an off-price retailer focused on apparel and home fashions, using a flexible, opportunistic buying model to sell branded merchandise at prices generally below those of full-price retailers on comparable goods.[1] Its major retail banners include TJ Maxx, Marshalls, HomeGoods, Sierra, Winners, HomeSense, and TK Maxx, spanning family apparel, footwear, accessories, furniture, rugs, lighting, decorative home goods, and outdoor gear.[2][3][4][5][6] The company states that its mission is to deliver great value to customers every day.[7]
TJX operates through four main business segments—Marmaxx, HomeGoods, TJX Canada, and TJX International—with a geographic footprint across the United States, Canada, Europe, and Australia.[8][6] It describes itself as the leading off-price apparel and home fashions retailer in the U.S. and worldwide, with over 5,000 stores and six branded e-commerce sites.[1] For fiscal 2025, net sales were $56.4 billion, and as of early 2024 the company had approximately 349,000 employees supporting more than 4,900 stores in nine countries.[9][10] [1][2][3][4][5][6][7][8][9][10]
Products & services
TJX Companies’ merchandise is centered on apparel, accessories, and home categories sold under multiple retail banners. In the U.S., TJ Maxx and Marshalls sell family apparel, including footwear; accessories, including beauty and jewelry; home fashions, including home basics, decorative accessories, and giftware; and other merchandise. TJ Maxx carries an expanded jewelry and accessories assortment and a higher-end designer department called The Runway, while Marshalls emphasizes a full footwear assortment and a broader men’s offering. Sierra focuses on brand-name active and outdoor apparel, footwear, and gear, including sporting goods and equipment for snow and water sports, camping, and fishing, and also sells home fashions and pet merchandise. These assortments are offered in stores and through banner-specific e-commerce sites including tjmaxx.com, marshalls.com, and sierra.com.[2][11][12]
Its home-focused concepts sell a broader range of household goods. HomeGoods offers furniture, rugs, lighting, soft home, decorative accessories, tabletop items, and cookware, along with expanded pet and gourmet food departments. Homesense complements that assortment with larger-scale home products and expanded departments such as large furniture, ceiling lighting, rugs, and an entertaining marketplace. Outside the U.S., Winners sells family apparel and home fashions; Canada’s HomeSense offers home decor, furniture, and seasonal home merchandise; and Marshalls Canada sells family apparel, footwear, and home fashions. In Europe and Australia, TK Maxx offers a merchandise mix similar to TJ Maxx, while Homesense in Europe carries a home fashions assortment similar to HomeGoods and HomeSense in North America.[4][5][6]
TJX discloses its consolidated revenue mix by major product category rather than by individual banner: in fiscal 2024, clothing including footwear represented 47% of revenue, accessories including jewelry and beauty represented 18%, and home fashions represented 35%.[13][14] [2][11][12][4][5][6][13][14]
Geographic presence
TJX Companies’ operations are centered in four geographies: the United States, Canada, Europe, and Australia. In the U.S., it operates the Marmaxx, HomeGoods, and Sierra businesses; in Canada it operates Winners, HomeSense, and Marshalls; and its international operations cover Europe and Australia, with stores in the U.K., Republic of Ireland, Germany, Poland, Austria, the Netherlands, and Australia.[15][16][17][18]
In fiscal 2025, 78% of revenue came from the United States, 9% from Canada, 12% from Europe, and 1% from Australia. Within the U.S., the revenue mix was 21% Northeast, 13% Midwest, 28% South (including Puerto Rico), and 16% West.[19][20]
At fiscal 2025 year-end, TJX operated 5,085 stores globally: 3,695 in the U.S., 576 in Canada, 730 in Europe, and 84 in Australia. In Canada, the largest store concentrations were in Ontario, Quebec, Alberta, and British Columbia. In Europe, the largest country footprints were the U.K. with 428 stores and Germany with 182, followed by Poland, the Republic of Ireland, Austria, and the Netherlands.[16][21][22][17][18]
TJX’s principal executive offices are in Framingham, Massachusetts. The company also says its buying organization of more than 1,300 employees has buying offices across the globe, and it operates distribution centers totaling about 30 million square feet in six countries. As of February 1, 2025, it had approximately 364,000 associates, with about 86% working in retail stores.[23][24][25][26] [15][16][17][18][19][20][21][22][23][24][25][26]
Business segments
TJX reports four reportable business segments: Marmaxx, HomeGoods, TJX Canada, and TJX International, and management reviews them primarily based on net sales and segment profit or loss. Marmaxx includes TJ Maxx, Marshalls, tjmaxx.com, marshalls.com, and Sierra; HomeGoods includes HomeGoods and Homesense; TJX Canada includes Winners, HomeSense, and Marshalls in Canada; and TJX International includes TK Maxx, Homesense, tkmaxx.com, tkmaxx.de, and tkmaxx.at in Europe plus TK Maxx in Australia. Except for HomeGoods and HomeSense/Homesense, the banners generally sell family apparel and home fashions, while HomeGoods and HomeSense/Homesense focus on home fashions.[27][28][29]
Based on fiscal 2025 net sales, Marmaxx was the largest segment at $34.6 billion, or about 61% of consolidated net sales. HomeGoods contributed $9.4 billion, or about 17%; TJX International contributed $7.2 billion, or about 13%; and TJX Canada contributed $5.2 billion, or about 9%.[30] [27][28][29][30]
Company history
TJX traces its origins to 1976, when Zayre Corp. recruited Bernard (Ben) Cammarata to develop a new off-price retail chain, and the first TJ Maxx stores opened in 1977. In the late 1980s, Zayre restructured and spun off TJ Maxx, Hit or Miss, and Chadwick’s of Boston, creating the foundation for what became The TJX Companies, Inc.[31]
The company broadened its business through a series of launches and acquisitions over the next two decades: it acquired Winners in Canada in 1990, introduced HomeGoods in 1992, launched TK Maxx in Europe in 1994, and acquired Marshalls in 1995. It later added HomeSense in Canada in 2001 and acquired Sierra Trading Post in 2012.[5][4][6][2][32]
Leadership also evolved over time, with Carol Meyrowitz becoming chief executive officer in January 2007 and Ernie Herrman succeeding her as chief executive officer in January 2016.[33][34] [5][4][6][2][32][31][33][34]
Sources
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