TJX is the leading off-price apparel and home fashions retailer in the U.S. and worldwide with a mission to deliver great value to our customers every day. We do this by offering a rapidly changing assortment of high-quality, fashionable, brand name, and designer merchandise at prices generally 20% to 60% below full-price retailers' (including department, specialty, and major online retailers) regular prices on comparable merchandise, every day.
The majority of the product we sell in our stores and online is brand-name merchandise. To obtain this merchandise, we work closely with our vendors and take advantage of a wide variety of opportunities, which can include department store cancellations, a manufacturer making up too much product, or a closeout deal when a vendor wants to clear merchandise at the end of the season. There are other ways we bring tremendous value to our customers. For example, sometimes when what we are seeing in the marketplace is not the right value for our customers, meaning the right combination of brand, fashion, price and quality, we may help design or develop merchandise to be manufactured just for us.
We have an expansive and changing universe of approximately 21,000 vendors across the globe, including thousands of new vendors in Fiscal 2023. Our opportunistic buying strategies and flexible business model differentiate us from many traditional retailers, and we acquire merchandise in a variety of ways to support our mission to deliver value to our customers every day. Our global buying strategies are intentionally flexible to allow us to react to frequently changing opportunities and trends in the market and to adjust how and what we source.
1As of January 28, 2023, which was the end of the Company's fiscal year.
Updated November 2023