At 2000’s year-end, The TJX Companies, Inc. operated six divisions – T.J. Maxx, Marshalls, HomeGoods and A.J. Wright in the United States, Winners in Canada, and T.K. Maxx in Europe. Our target customer is a middle to upper-middle income shopper, who is fashion and value conscious and has the same customer profile as a department store shopper. This is true of all of our concepts, with the exception of A.J. Wright, which targets a more moderate income demographic market. Our mission is to deliver a rapidly changing assortment of quality, brand name merchandise at prices that are 20-60% less than department and specialty store regular prices, every day.

T.J. MAXX T.J. Maxx was founded in 1976 and is the largest off-price retailer of apparel and home fashions in the United States, operating 661 stores in 47 states at the end of 2000. Averaging 29,000 square feet, T.J. Maxx sells brand name family apparel, accessories, home fashions, women’s shoes, lingerie and fine jewelry.

MARSHALLS Marshalls was acquired by TJX in 1995 and is the nation’s second largest off-price retailer, operating 535 stores in 38 states at 2000’s year end. Although its product assortment is very similar to that of T.J. Maxx, Marshalls offers customers a full line of family footwear and a larger men’s department. An average Marshalls store is 31,000 square feet.

WINNERS TJX acquired Winners as a five store chain in 1990 and has grown this business into the leading off-price retailer in Canada with 117 stores at 2000’s year end. Winners stores average approximately 27,000 square feet and emphasize off-price designer and brand name women’s apparel and shoes, fine jewelry, children’s apparel, lingerie, accessories, home fashions and menswear.

T.K. MAXX TJX introduced the off-price concept to the United Kingdom in 1994 with T.K. Maxx, which today is the leading off-price retailer in that country. T.K. Maxx offers great values on family apparel, women’s shoes, fine jewelry, lingerie, accessories and home fashions. The average size of a T.K. Maxx store is 26,000 square feet. T.K. Maxx ended 2000 with 74 stores.

HOMEGOODS With the introduction of HomeGoods in 1992, TJX expanded its presence in the booming home fashions market. HomeGoods offers a broad array of giftware, accent furniture, lamps, rugs, accessories and seasonal merchandise. This chain operates in a stand-alone and superstore format. The superstores combine HomeGoods with T.J. Maxx or Marshalls and are called T.J. Maxx ‘N More and Marshalls Mega-Stores. Stand-alone HomeGoods average approximately 30,000 square feet. At 2000’s year end, HomeGoods operated 81 stores.

A.J. WRIGHT A.J. Wright is TJX’s most recent concept, which operates similarly to our other concepts, but targets the moderate income customer. A.J. Wright offers family apparel and footwear, accessories, home fashions, lingerie and costume jewelry. This business was launched in 1998 and, at 2000’s year end, operated 25 stores. A.J. Wright stores average 27,000 square feet.

HOMESENSE Scheduled to launch in 2001, HomeSense will bring an off-price concept dedicated to home fashions to Canada. We expect to open 7 HomeSense stores in 2001. HomeSense stores will average 23,000 square feet