TJX

 TJX公司总部设在美国波士顿，在北美地区和许多欧洲国家开有连锁分店，仅在美国就有2500多家分店。

　　TJX Companies, Inc. 是美国和全世界的服装和家庭时尚低价零售商。公司经营T.J. Maxx stores, Marshalls stores, and Winners Apparel Ltd. stores。Winners Apparel Ltd. stores是一家加拿大的低价家庭服装和家庭时尚连锁店。公司同时操作HomeGoods, 一家美国低价家庭时尚连锁店；以及T.K. Maxx 、一家在英国、爱尔兰共和国和荷兰的低价家庭服装和家庭时尚连锁店。另外, 公司经营A.J. Wright, 一个新的美国低价家庭服装和家庭时尚商店连锁店。

The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, ranking 119 in the most recent Fortune 500 listings. With nearly $22 billion in revenues in 2010, more than 2,800 stores in six countries and over 160,000 Associates, we see ourselves as a global, off-price value retailer. Our off-price mission is to deliver a rapidly changing assortment of fashionable, quality, brand name merchandise at prices that are 20-60% less than department and specialty store regular prices, every day. Our great values and exciting treasure-hunt shopping experience appeal to a wide array of customers. We believe that our demographic reach is among the widest in retail, and we have continued to broaden it. Our core target customer is a middle- to upper-middle-income shopper who is fashion and value conscious and fits the same profile as a department or specialty store shopper. TJX operates four major divisions with chains that include T.J. Maxx, Marshalls, and HomeGoods in the U.S.; Winners, HomeSense, and Marshalls in Canada; and T.K. Maxx and HomeSense in Europe.

At TJX, we believe that we operate one of the most flexible business models in the world. Year after year, our great flexibility, particularly for a company of our size, has enabled us to succeed through various economic and business cycles. In our 34-year history, we have delivered steady earnings growth, some of the highest returns on investment in retail, and seen only one year with an annual comparable store sales decline. Our stores have "no walls" between departments and our flexible business model enables us to move our inventory dollars from one category to another very quickly as market trends and customers’ tastes change. Our inventories turn rapidly, which allows us to buy close to need, with greater visibility into current fashion and pricing trends, which in turn drives continuous freshness in our stores and higher merchandise margins. We source merchandise globally from over 14,000 vendors in more than 60 countries and operate more like a sourcing machine than most retailers. Further, our financial strength gives us the strong foundation and flexibility to grow our business and simultaneously return value to shareholders. These elements of our flexibility have been at the root of our consistent, successful performance. These factors also give us great confidence in our ability to sustain strong profitability and continue our global growth.

We are very proud of our strong overall performance in 2010. We grew the top and bottom lines substantially over extraordinary growth in the prior year. Customer traffic continued to be up over significant increases in the prior year, as our great values, exciting assortments and effective marketing campaigns are attracting new customers and our store remodel program is helping to retain them. We ran our business with very low levels of inventories and significantly reduced our costs, which fueled profitability. TJX’s Marmaxx (combination of T.J. Maxx and Marshalls), HomeGoods and TJX Canada divisions all achieved outstanding results in 2010 over very strong performance in the prior year. At our TJX Europe division, we grew a bit too quickly in 2010, so we are slowing the pace of its store growth in 2011 to focus on getting this business back onto its very solid track. We remain as confident as ever in our long-term outlook in Europe, where we have enormous growth potential.

We have great opportunities in 2011 and beyond and are convinced that our strong top- and bottom-line performance will continue. We are extremely well positioned to capitalize on the value-conscious mindset of consumers, which we believe is here to stay. Our vast sourcing universe affords us enormous flexibility to react quickly to market trends and consumer preferences. We remain focused on running with lean inventories and controlling costs to drive profitability. We have plentiful growth opportunities and see the potential to grow our business over time to nearly 4,500 stores with our current portfolio of brands in our current markets. Our financial stability and flexibility have always been a strong foundation for our business and give us great confidence in our ability to navigate various economic and retail environments. Our strong operations generate tremendous cash flow, which we deploy with a careful balance between reinvesting in the business and distributing excess cash to shareholders through our share buyback and dividend programs.

We have great confidence in the future of TJX and believe that, over time, we are capable of growing to twice our size today!