TJ Maxx, a popular off-price retailer, has earned a special place in the hearts of bargain hunters and fashion enthusiasts. Offering a wide array of discounted clothing, accessories, home goods, and more, TJ Maxx is celebrated for its ability to provide quality products at a fraction of the regular retail price.
In this article, we delve into the world of TJ Maxx, exploring its history, founder, operational countries, number of stores, estimated revenue, what it’s known as by consumers, and the impact it has made on the world of off-price retail.
History
TJ Maxx’s history traces back to 1976 when Bernard Cammarata founded the company in Framingham, Massachusetts, USA. The original concept was to create a store where customers could discover brand-name merchandise at significantly discounted prices. This marked the beginning of a model that involved purchasing excess inventory and selling it at prices that were often well below those found in traditional retail stores.
Over the years, TJ Maxx has continued to refine its off-price retail strategy, introducing an ever-changing assortment of products from popular brands, with a focus on providing customers with the thrill of finding a hidden gem at a great price. This “treasure hunt” shopping experience has been a key element of TJ Maxx’s success.
Here is a summary of TJ Maxx’s key milestones:
- 1976: TJ Maxx is founded in Auburn, Massachusetts.
- 1988: Zayre Companies, Incorporated is renamed to TJX Companies, Inc.
- 1995: TJX Companies, Inc. buys Marshalls.
- 2000s: TJ Maxx expands internationally to Canada, Mexico, the United Kingdom, and Ireland.
- 2023: TJ Maxx is the largest division of TJX Companies, Inc., with over 1,200 stores in 48 states and Puerto Rico.
Founder
Bernard Cammarata, the founder of TJ Maxx, had a vision for creating a retail destination where customers could enjoy a constantly changing inventory of discounted, high-quality goods. His commitment to delivering value to shoppers laid the foundation for TJ Maxx’s business model, which continues to attract customers seeking quality products at reduced prices.
Operational Countries
TJ Maxx has operational stores in the following countries as of October 25, 2023:
- Canada
- Ireland
- Mexico
- United Kingdom
- United States
TJ Maxx is the largest division of TJX Companies, Inc., which also owns Marshalls, HomeGoods, HomeSense, and Sierra. TJX Companies, Inc. is one of the largest retailers in the world, with over 3,000 stores in 10 countries.
Number of Stores
As of October 25, 2023, TJ Maxx has 1,299 stores in operation. This includes 1,065 stores in the United States, 234 stores in Canada, and two stores in Mexico.
TJ Maxx is the largest division of TJX Companies, Inc., which also owns Marshalls, HomeGoods, HomeSense, and Sierra. TJ Maxx is a leading off-price retailer, which means that it sells brand-name merchandise at discounted prices. TJ Maxx is able to do this by buying merchandise from manufacturers in bulk and by selling it in a no-frills environment.
TJ Maxx is known for its wide selection of merchandise, which includes clothing, shoes, accessories, home goods, and beauty products. The company also offers a variety of services, such as tailoring, alterations, and gift wrapping.
TJ Maxx is planning to open approximately 50 new stores in 2023. The company is also expanding internationally, with plans to open stores in new markets such as Europe and Asia.
Top-rated TJ Maxx Storess
Estimated Revenue
TJ Maxx’s estimated revenue for 2023 is $24.37 billion, according to Macrotrends. This represents a 3.59% increase from the company’s revenue in 2022.
TJ Maxx’s revenue growth is being driven by a number of factors, including:
- Strong consumer spending in the United States, the company’s primary market.
- The company’s focus on omnichannel retail, which allows customers to shop online or in-store.
- Its success with its own brands, which now account for over 50% of sales.
- Its expansion into new markets, such as Canada and Mexico.
TJ Maxx is well-positioned to continue its growth trajectory in the coming years. The company has a strong brand, a loyal customer base, and a diversified business model. TJ Maxx is also investing heavily in its digital business and its expansion into new markets.
Known as by Consumers
Consumers typically refer to TJ Maxx by its brand name, “TJ Maxx.” The store is often affectionately known as a “treasure hunt” by its loyal customers, reflecting the excitement and sense of discovery that comes with finding quality products at discounted prices. While it may not have many informal or playful nicknames, “TJ Maxx” is a recognized and trusted name in the world of off-price retail.
TJ Maxx has firmly established itself as a beloved destination for those seeking affordable, high-quality products. Founded by Bernard Cammarata in Massachusetts, the company’s legacy lives on through its extensive network of stores and its commitment to offering customers a treasure hunt shopping experience.
As a major player in the American off-price retail industry, TJ Maxx continues to provide shoppers with a unique and ever-changing assortment of products from popular brands, setting the standard for the thrill of the hunt in the world of retail.