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Off-price retailer Marshalls to step into Canada
21 Jul '10
2 min read
The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced plans to bring Marshalls, one of TJX's most successful chains, to Canada. The Company anticipates that the first Canadian Marshalls stores will open in the Spring of 2011. Marshalls is one of the leading off-price apparel retailers in the U.S., with over 800 stores spanning 42 states and Puerto Rico. Marshalls will become TJX Canada's fourth off-price retail division, along with its other banners Winners, HomeSense and STYLESENSE.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “I am delighted to announce that we are bringing our Marshalls chain to TJX Canada, where we have our highest financial returns, with the planned opening of six stores in 2011. Canada has been a very successful market for TJX since we first entered in 1990, and we are excited to continue growing our Canadian business. We believe Marshalls will offer Canadians yet another avenue to great brands, great fashions and excellent values for the entire family. This is another example of our emphasis on international expansion, and we believe that Marshalls will be extremely well received in Canada. Ultimately, we estimate the Canadian market can support 90-100 stores.”
Marshalls in Canada will be managed by TJX Canada, the operating group managing Winners, acquired in 1990, HomeSense, launched in 2001, and STYLESENSE, launched in 2008. Operations, distribution and management will be leveraged from the existing organization. The Company is not yet ready to announce specific locations for the initial stores.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 903 T.J. Maxx, 819 Marshalls, 328 HomeGoods, and 154 A.J. Wright stores in the United States. In Canada, the Company operates 208 Winners, 79 HomeSense and 3 STYLESENSE stores, and in Europe, 281 T.K. Maxx and 19 HomeSense stores.
Carol Meyrowitz, President and Chief Executive Officer of The TJX Companies, Inc., stated, “I am delighted to announce that we are bringing our Marshalls chain to TJX Canada, where we have our highest financial returns, with the planned opening of six stores in 2011. Canada has been a very successful market for TJX since we first entered in 1990, and we are excited to continue growing our Canadian business. We believe Marshalls will offer Canadians yet another avenue to great brands, great fashions and excellent values for the entire family. This is another example of our emphasis on international expansion, and we believe that Marshalls will be extremely well received in Canada. Ultimately, we estimate the Canadian market can support 90-100 stores.”
Marshalls in Canada will be managed by TJX Canada, the operating group managing Winners, acquired in 1990, HomeSense, launched in 2001, and STYLESENSE, launched in 2008. Operations, distribution and management will be leveraged from the existing organization. The Company is not yet ready to announce specific locations for the initial stores.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 903 T.J. Maxx, 819 Marshalls, 328 HomeGoods, and 154 A.J. Wright stores in the United States. In Canada, the Company operates 208 Winners, 79 HomeSense and 3 STYLESENSE stores, and in Europe, 281 T.K. Maxx and 19 HomeSense stores.
The TJX Companies Inc
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