The TJX business model is built to have tremendous flexibility and grow with the times, enabling us to navigate through economic downturns and upturns as well as operate successfully across different geographies. In our nearly 40-year history, we have achieved consistent, strong performance. In fact, during this period, we have had only one year with a comparable store sales decline. Over the last 20 years, we have delivered annual comparable store sales increases each year, and earnings have grown solidly. Our long, successful track record through many types of economic and retail environments is one of the reasons for our confidence that our strong performance can continue for many years to come.
We believe significant opportunity remains to deliver value to more consumers across the globe. At TJX, value has been our mission since day one and we are convinced that our off-price combination of brand, fashion, price and quality will continue to be a tremendous draw for consumers.
As we pursue our goals for global growth, our major strengths give us great confidence:
We see huge opportunity to gain even more market share around the world. Our growth strategy is focused on these key drivers: