The parent company of Marshalls, T.J. Maxx, and HomeGoods enjoys creating a “treasure hunt” experience in its more than 4,300 locations around the world—encouraging customers to search through racks of clothing and home goods (supplied by a total of 21,000 vendors) to find the ideal bargain item. This strategy appears to be working, considering that TJX has delivered same-store sales growth for 23 consecutive years. The company reported $39 billion in revenue for 2018, up nearly 9% from 2017. CEO Ernie Herrman said the company would launch an e-commerce platform for Marshalls, which currently doesn’t sell goods online, later this year.
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Even if consumer spending slows or a recession hits, these companies will beat the competition.
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But it should have closed all those stores sooner.