Annual Report Scavenger Hunt: TJX

TJX’s mission statement aims to attract more U.S. and international customers, while their vision is to integrate stores and the web to increase customer base and revenue using their current $23 billion brick-and-mortar business and 700-person buying organization. Their values include stretching the boundaries of the off-price business model and taking intelligent risks to offer consumers greater value. TJX targets middle- to upper-middle-income shoppers and offers great fashion, brand, quality, and price. They sell off-price apparel and home fashions and achieve flexibility in their business model through opportunistic buying and inventory management strategies. Their competition includes local, regional, national, and international department, specialty, off-price, discount, warehouse, and outlet stores, as well as other retailers that sell similar merchandise. TJX faces various risks beyond their control, such as execution, inventory flow, natural disasters, political instability, and increasing costs. Their strategies to address these risks include setting the right goods in the right stores, distributing goods effectively, maintaining an appropriate mix and level of inventory, changing the allocation of floor space, and effectively managing pricing and markdowns. TJX is organized into four business segments and has over 4,500 stores across various locations. They plan to open 1,400 new stores in the next fiscal year.