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| T.J. Maxx is the largest off-price apparel retailer in the United States, operating 604 stores at the end of 1998. Averaging 29,000 square feet in size, T.J. Maxx stores offer brand name family apparel, giftware, domestics, women’s shoes, accessories and fine jewelry at prices 20-60% below department store regular prices. T.J. Maxx customers are typically in the middle to upper-middle income bracket and generally fit the profile of a department store shopper. Our target customer is a savvy consumer who seeks and understands fashion and value. T.J. Maxx continues to add stores to its store base across the country. | Marshalls is the nation’s second largest off-price apparel retailer, operating 475 stores at 1998’s year end. This concept offers excellent values on brand name family apparel, giftware, domestics and accessories, as well as shoes for the entire family and a broad assortment of menswear. Marshalls’ customer demographics are also those of a department store customer, but reach a somewhat wider range than those for T.J. Maxx. Marshalls will continue to grow its chain throughout the U.S. Average store size at Marshalls is 31,000 square feet. | Winners Apparel Ltd., operating 87 stores at 1998’s year end, is the premier off-price family apparel retailer in Canada. Patterned after T.J. Maxx, Winners offers great values on brand name family apparel, giftware, domestics, accessories and women’s shoes. As at T.J. Maxx and Marshalls, Winners’ merchandise assortments change frequently, offering customers an exciting shopping experience. This rapidly growing chain expects to open about 12 stores throughout Canada in each of the next several years. |
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HomeGoods, operating 35 stores at the end of 1998, offers a wide array of home fashions including giftware, domestics, rugs, bed and bath, lamps, accent furniture and seasonal merchandise. This concept was developed to capitalize on the Company’s strength in home oriented product. It offers TJX opportunity as a stand-alone format and in a superstore format, where HomeGoods is combined with the T.J. Maxx or Marshalls concept.
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T.K. Maxx, a T.J. Maxx-like, off-price apparel concept, operated 36 stores in the United Kingdom, 1 store in the Republic of Ireland and 2 stores in the Netherlands at the end of 1998. Customer reaction in the U.K. has been extremely positive to the quality, fashion and prices offered by T.K. Maxx. In 1999, T.K. Maxx expects to open approximately 15 stores, most of which will be in the United Kingdom. T.K. Maxx offers the Company an important growth vehicle for the future.
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A.J. Wright, launched in September 1998, operated 6 off-price family apparel stores at the end of that year. This developing business brings the off-price concept to a different demographic profile – the moderate income customer. During 1999, A.J. Wright expects to open about 10 stores and, although still early, the Company believes A.J. Wright holds substantial potential for growth.
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