Investor Information

Flexibility Leading to Success

The TJX Companies, Inc. is the largest off-price apparel and home fashions retailer in the U.S. and worldwide. We believe that we operate one of the most flexible business models in the world which has enabled us to achieve successful, profitable growth year after year, through many types of economic and retail cycles. Over our 34-year history, our annual comparable store sales have declined only once and we have delivered solid earnings growth and some of the highest financial returns in retail. Our rapid inventory turns allow us to buy close to need giving us great visibility into current fashion and pricing trends, which in turn, drives freshness in our stores and higher merchandise margins. Our store layouts have “no walls” between departments, which allows us to shift categories quickly as consumers' tastes and market trends change. We source merchandise globally from a universe of over 14,000 vendors which provides us enormous flexibility and is one of the reasons for our confidence that there will always be quality product to serve our needs. With our broad U.S. and international customer base, we believe that we have one of the widest demographic audiences in retail and we have continued to broaden it. We are capitalizing upon the value mindset of consumers by advertising more effectively and upgrading the shopping experience in our stores to attract and retain new customers. We have successfully expanded our business in six countries, and we continue to believe we have vast growth opportunities both in the U.S. and abroad. Our strong operations have generated enormous amounts of cash over many years, which affords us the flexibility to simultaneously invest in growing our business while distributing excess cash to shareholders. We are excited about our opportunities for the future and confident in our ability to double the size of TJX over time! To learn more about the reasons for our confidence, we invite you to read more about our Key Success Factors, below. We encourage you to consult this Investor Information section of our website regularly as we routinely post information that may be important to investors.

Key Success Factors

June 2011