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About Marshalls of Ma, Inc.

The TJX Companies operates about 4,500 stores worldwide under half a dozen retail brand names, including the two largest off-price clothing retailers in the US: T.J. Maxx and Marshalls, which operate more than 2,400 stores nationwide. T.J. Maxx sells brand-name family apparel, accessories, shoes, domestics, giftware, and jewelry at discount prices, while Marshalls offers similar items plus a broader selection of shoes and menswear through more than 1,200 stores worldwide. Its HomeGoods chain of 800-plus US stores focuses exclusively on home furnishings. It trades as T.K. Maxx in Europe with 600-plus stores in the UK, Ireland, Austria, Germany, Poland, and the Netherlands. TJX keeps prices low by scooping up excess stock from manufacturers and department stores. The US generates the largest revenue amounting more than 60%.


The company operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International.

T.J. Maxx and Marshalls (which the company refers to collectively in the US as Marmaxx) operate more than 2,400 US stores and generate more than 60% of TJX Companies' total sales. They share similar retail concepts, and sell merchandise generally priced 20% to 60% below similar items at department stores. While Marshalls offers larger men's and shoe departments than T.J. Maxx and costume jewelry, both chains target deal-seeking consumers who usually shop at full-priced chains.

Beyond Marmaxx in the US, TJX makes almost 15% of its total sales from its above 800 US HomeGoods stores, which sell home fashions in about 50 states and Puerto Rico. Around 30 HomeSense stores offer complementary products to the main HomeGoods offering.

TJX Canada (10% of sales) operates nearly 950 Marshalls stores, about 280 Winners discount apparel and home fashions stores, and around 135 HomeSense stores in Canada that offer merchandise similar to that of the HomeGoods chain in the US.

TJX International (which mostly includes Europe, particularly the UK) generates nearly 15% of sales, TJX operates nearly 80 HomeSense shops and over 595 T.K. Maxx stores, which offer a merchandise mix similar to T.J. Maxx, Marshalls, and Winners stores. There are also about 55 T.K. Maxx Stores in Australia. The company also operates Sierra Trading Post, an off-price internet retailer.

The company's clothing and footwear generate 50% of sales, home fashions generate more than 30% of sales while jewelry and accessories generate the remaining sales.

Geographic Reach

TJX Companies generates around 75% of its sales in the US. The remainder of sales came from Canada and other countries (mostly in Europe). Its largest markets in the US are California, Florida, New York, and Texas, which account for around 35% of its total US store base. In Canada its biggest market by far is Ontario, accounting for nearly 45% of sales.

The UK is the company's largest market in Europe with about 670 stores, followed by Germany (nearly 150 stores), and Poland (about 45) and Ireland (nearly 30).

It has distribution centers in the US, Canada, Germany, Poland, Australia, and the UK.

Sales and Marketing

The company sells a rapidly changing assortment of apparel, home fashions and other 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 company ships substantially all of its merchandise to its stores through a network of distribution centers and warehouses as well as shipping centers operated by third parties.

Advertising expense was $452.0 million for 2020, $446.3 million for 2019 and $412.4 million for 2018.

Financial Performance

Net sales for fiscal 2020 totaled $41.7 billion, a 7% increase over fiscal 2019. The increase reflected a 4% increase from comp stores and a 4% increase from non-comp sales. Foreign currency had a 1% negative impact in fiscal 2020.

The company's net income increased by $212.4 million to $3.3 billion in 2020 from $3.1 billion in the prior year. The increase was primarily due to higher revenues.

TJX's cash on hand grew $186.5 million during 2020, ending the year at $3.2 billion. The company's operations generated $4.1 billion, while its investing activities used $1.5 billion and its financing used $2.4 billion. TJX's main cash uses in 2020 were for additions of property, common stock repurchase and dividends paid.


TJX's flexible off-price business model, including its opportunistic buying, inventory management, logistics and flexible store layouts, is designed to deliver its customers a compelling value proposition of fashionable, quality, brand name and designer merchandise at excellent values every day. The company's buying and inventory management strategies give flexibility to adjust its merchandise assortments more frequently than traditional retailers, and the design and operation of its stores and distribution centers support this flexibility. TJX's buyers have more visibility into consumer, fashion and market trends and pricing when they buy closer to need, which can help them "buy smarter" and reduce its markdown exposure. TJX's selling floor space is flexible, without walls between departments and largely free of permanent fixtures, so it can easily expand and contract departments to accommodate the merchandise it purchase. The company's logistics and distribution operations are designed to support its global buying strategies and to facilitate quick, efficient and differentiated delivery of merchandise to its stores, with a goal of getting the right merchandise to the right stores at the right time.

Marshalls of Ma, Inc.

770 Cochituate Rd
Framingham, MA 01701-4666
Phone: 1 (508) 390-3000

Firm Stats

Employer Type: Privately Owned
Technical Staff: Dan Fleming
Employees (This Location): 1,200
Employees (All Locations): 20,000

Major Office Locations

Framingham, MA

Other Locations

Hoover, AL
Cabot, AR
Little Rock, AR
Gilbert, AZ
Peoria, AZ
Phoenix, AZ
Yuma, AZ
Burbank, CA
Chino, CA
Chula Vista, CA
Corona, CA
Fontana, CA
Fresno, CA
Garden Grove, CA
Gilroy, CA
Glendale, CA
Hawthorne, CA
La Jolla, CA
Lakewood, CA
La Verne, CA
Lompoc, CA
Los Angeles, CA
Madera, CA
Milpitas, CA
Mountain View, CA
Murrieta, CA
North Hills, CA
Novato, CA
Palm Springs, CA
Placentia, CA
Porterville, CA
Redwood City, CA
Sacramento, CA
San Diego, CA
San Francisco, CA
San Jose, CA
San Juan Capistrano, CA
San Leandro, CA
San Mateo, CA
Santa Ana, CA
Santa Barbara, CA
Santa Cruz, CA
Tracy, CA
Upland, CA
Woodland, CA
Colorado Springs, CO
Lakewood, CO
Lone Tree, CO
Longmont, CO
Avon, CT
Hartford, CT
Manchester, CT
Meriden, CT
New Britain, CT
New London, CT
West Hartford, CT
Washington, DC
Wilmington, DE
Boca Raton, FL
Clearwater, FL
Coral Gables, FL
Coral Springs, FL
Fort Myers, FL
Hialeah, FL
Jacksonville, FL
Jacksonville Beach, FL
Miami, FL
North Miami Beach, FL
Orlando, FL
Pensacola, FL
Pompano Beach, FL
Port Charlotte, FL
Riverview, FL
Royal Palm Beach, FL
Sanford, FL
Sunny Isles Beach, FL
Tampa, FL
Trinity, FL
Vero Beach, FL
West Palm Beach, FL
Athens, GA
Atlanta, GA
Brookhaven, GA
Buford, GA
College Park, GA
Decatur, GA
Doraville, GA
East Point, GA
Griffin, GA
Coralville, IA
Des Moines, IA
West Burlington, IA
West Des Moines, IA
Meridian, ID
Arlington Heights, IL
Bolingbrook, IL
Broadview, IL
Chicago, IL
Chicago Ridge, IL
Downers Grove, IL
Evanston, IL
Harwood Heights, IL
Joliet, IL
Lombard, IL
Naperville, IL
Northbrook, IL
Oak Lawn, IL
Peoria, IL
Rockford, IL
Skokie, IL
Avon, IN
Carmel, IN
Evansville, IN
Fort Wayne, IN
Granger, IN
Indianapolis, IN
Lafayette, IN
Manhattan, KS
Olathe, KS
Salina, KS
Wichita, KS
Lexington, KY
Louisville, KY
Baton Rouge, LA
Covington, LA
Lake Charles, LA
Shreveport, LA
Boston, MA
Brockton, MA
Burlington, MA
Columbus, MA
Dawsonville, MA
Dorchester, MA
Framingham, MA
Franklin, MA
Hyannis, MA
Marshfield, MA
Medford, MA
North Attleboro, MA
North Reading, MA
Plymouth, MA
Raynham, MA
Roxbury, MA
Saugus, MA
Somerville, MA
Springfield, MA
Swansea, MA
Waltham, MA
Watertown, MA
Westborough, MA
Westford, MA
Worcester, MA
Baltimore, MD
Catonsville, MD
District Heights, MD
Frederick, MD
Laurel, MD
Oxon Hill, MD
Bangor, ME
Windham, ME
Ann Arbor, MI
Bay City, MI
Brighton, MI
Canton, MI
Detroit, MI
Petoskey, MI
Bloomington, MN
Lakeville, MN
Minneapolis, MN
Minnetonka, MN
Columbia, MO
Florissant, MO
Independence, MO
Saint Louis, MO
Washington, MO
Southaven, MS
Asheboro, NC
Cary, NC
Charlotte, NC
Holly Springs, NC
Shelby, NC
Winston Salem, NC
Omaha, NE
Bedford, NH
Epping, NH
Portsmouth, NH
Burlington, NJ
Clark, NJ
Emerson, NJ
Ewing, NJ
Garfield, NJ
Manalapan, NJ
Neptune, NJ
Paterson, NJ
Shrewsbury, NJ
Toms River, NJ
Totowa, NJ
Turnersville, NJ
Watchung, NJ
Albuquerque, NM
Roswell, NM
Elko, NV
Las Vegas, NV
Albany, NY
Brewster, NY
Bronx, NY
Brooklyn, NY
Cheektowaga, NY
Cicero, NY
De Witt, NY
Flushing, NY
New Hyde Park, NY
New Rochelle, NY
Niagara Falls, NY
Orchard Park, NY
Pelham, NY
Rochester, NY
Rome, NY
Schenectady, NY
Syracuse, NY
West Babylon, NY
Yonkers, NY
Cincinnati, OH
Cleveland, OH
Columbus, OH
Massillon, OH
Middleburg Heights, OH
New Philadelphia, OH
Norwood, OH
Midwest City, OK
Oklahoma City, OK
Keizer, OR
Medford, OR
Portland, OR
Roseburg, OR
Cranberry Township, PA
Doylestown, PA
Easton, PA
Exton, PA
Greensburg, PA
Langhorne, PA
Philadelphia, PA
Pittsburgh, PA
Springfield, PA
Trexlertown, PA
Washington, PA
West Mifflin, PA
Charleston, SC
Columbia, SC
Easley, SC
Myrtle Beach, SC
Spartanburg, SC
Franklin, TN
Memphis, TN
Nashville, TN
Cedar Hill, TX
Dallas, TX
Del Rio, TX
Fort Worth, TX
Frisco, TX
Grand Prairie, TX
Houston, TX
Humble, TX
Huntsville, TX
Lewisville, TX
Mansfield, TX
Mesquite, TX
Odessa, TX
Plano, TX
San Angelo, TX
Southlake, TX
Sugar Land, TX
The Woodlands, TX
Tomball, TX
Farmington, UT
Murray, UT
Alexandria, VA
Bridgewater, VA
Glen Allen, VA
Herndon, VA
Manassas, VA
Martinsville, VA
Midlothian, VA
Norfolk, VA
North Chesterfield, VA
Richmond, VA
Roanoke, VA
Virginia Beach, VA
Williamsburg, VA
Woodbridge, VA
Bellingham, WA
Gig Harbor, WA
Issaquah, WA
Renton, WA
Seattle, WA
Spokane, WA
Kenosha, WI
Milwaukee, WI
South Charleston, WV
Casper, WY