Press release from Business Wire
The TJX Companies, Inc. Plans to Bring Marshalls to Canada; First Stores in Spring 2011; 90 to 100 Store Long-Term Potential
Tuesday, July 20, 2010
The TJX Companies, Inc. Plans to Bring Marshalls to Canada; First Stores in Spring 2011; 90 to 100 Store Long-Term Potential12:05 EDT Tuesday, July 20, 2010 FRAMINGHAM, Mass. (Business Wire) -- The TJX Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today 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. TJX's press releases and financial information are also available on the Internet at www.tjx.com. Important Information at Website Archived versions of the Company's recorded messages and conference calls are available at www.tjx.com after they are no longer available by telephone. The Company routinely posts information that may be important to investors in the Investor Information section at www.tjx.com. The Company encourages investors to consult that section of its website regularly. Forward-looking Statement SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Various statements made in this release are forward-looking and involve a number of risks and uncertainties. All statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. The following are some of the factors that could cause actual results to differ materially from the forward-looking statements: global economies and credit and financial markets; foreign currency exchange rates; buying and inventory management; customer trends and preferences; market, geographic and category expansion; quarterly operating results; marketing, advertising and promotional programs; data security; seasonal influences; large size and scale; unseasonable weather; serious disruptions and catastrophic events; competition; personnel recruitment and retention; acquisitions and divestitures; information systems and technology; cash flows; consumer spending; merchandise quality and safety; merchandise importing; international operations; oil prices; compliance with laws, regulations and orders; changes in laws and regulations; outcomes of litigation and proceedings; real estate leasing; market expectations; tax matters and other factors that may be described in our filings with the Securities and Exchange Commission. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized.