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State-of-the-art technology continues to support TJX’s success. From inventory management and distribution, to store operations, to home office administration, we have been very cost effective and are well on our way in readying our systems for “Y2K.” |
| In 1997, we announced our plans to launch a new business that will target an underserved population, the moderate income customer. Our new venture will offer family apparel, domestics, giftware and general merchandise, all at off-price values. We anticipate our first stores to be located in the New England region and to open in the fall of 1998. Looking to the future, our new business will allow us to capitalize on the Company’s many operational synergies as we bring an exciting off-price concept to an untapped and diverse population of customers! |
| In 1997, TJX made an important commitment to the Welfare-to-Work Partnership, an independent, non-partisan, national effort of the American business community, to help those on public assistance obtain jobs in the private sector. We pledged to fill 5,000 jobs with former welfare recipients by the year 2000. We are proud to say that, thus far, we have hired more than 3,000 individuals who previously received public assistance. We believe that corporate America must do its part to create job and training opportunities within the work force for those individuals on the public welfare rolls. TJX hopes to lead this effort by setting an example for others in corporate America to follow. We are actively recruiting sponsors from the business sector to join us in this effort. Another level of our community involvement is through our Minority and Women Owned Supplier Development Program. In addition, in 1997, through The TJX Foundation and other corporate contributions, our philanthropic efforts continued to focus primarily on needy families and children. In total, we supported 325 organizations. Going forward, we remain committed to give back to the communities in which we have a retail and corporate presence. |
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