Edmond J. English, President and Chief Executive Officer of The TJX Companies, Inc., stated, "We are very excited about the launch of our e-commerce websites! We see the Internet channel as a way to capture new T.J. Maxx and HomeGoods customers as well as offer our existing customers the convenience of shopping from home. We believe that there is great pent-up demand for our excellent values over the Web, as our former website for T.J. Maxx, which was purely marketing-oriented, had been receiving millions of web visits per year. We also see the Internet as a way to drive customer traffic to our stores, as we will market our concepts and encourage customers to shop the wider selections offered in our stores.
"Having evaluated the Internet channel for several years, we believe it is the right time for TJX to enter e-commerce. We plan to operate these sites as extensions of our divisions, not as separate businesses, leading to lower operating costs and a clearer path to success. Further, we view e-commerce as a driver of incremental sales in the short term and a vehicle for significant growth over time."
English continued, "While T.J. Maxx has had its marketing-oriented website for quite some time, the launch of www.homegoods.com marks HomeGoods' entree to the Internet and provides a national platform for this younger business. We believe that broadening HomeGoods' reach through the Internet will create excitement among shoppers across the U.S. for this unique, off-price home fashions concept."
Savvy, fashion and value-conscious Internet customers will experience the same kind of exciting treasure hunt for quality, brand name apparel and home fashions that customers enjoy in T.J. Maxx and HomeGoods stores. Merchandise will be fast-turning and offered at the same great, off-price values for which these concepts are known. As in the Company's stores, the TJX online shopping experience is designed to be easy and pleasant, and customer service policies should make shopping online as 'hassle-free' as possible. Customers have the choice of returning merchandise purchased at www.tjmaxx.com or www.homegoods.com to their respective store locations or shipping it back to the addresses provided on the sites. Also, gift certificates will be sold online.
About T.J. Maxx
T.J. Maxx is the largest off-price retailer of apparel and home fashions in the United States. Founded in 1976, T.J. Maxx sells brand name family apparel, accessories, home fashions, women's shoes, lingerie, and fine jewelry, all at excellent values. T.J. Maxx's target customer is a middle to upper-middle income shopper who is fashion and value conscious and fits the same profile as a better department and specialty store shopper.
About HomeGoods
HomeGoods was launched by The TJX Companies in 1992 to expand the Company's presence in the home fashions market. HomeGoods offers great values on a broad array of giftware, furniture, lamps, rugs, accessories, and seasonal merchandise. This chain operates in a stand-alone and superstore format, which couple a HomeGoods with a T.J. Maxx or Marshalls store. Like T.J. Maxx, HomeGoods customers are middle to upper-middle income shoppers who fit the same profile as the better department and specialty stores.
About The TJX Companies
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 759 T.J. Maxx, 686 Marshalls, 194 HomeGoods, and 112 A.J. Wright stores, as well as 31 Bob's Stores, in the United States. In Canada, the Company operates 162 Winners and 32 HomeSense stores, and in Europe, 155 T.K. Maxx stores. Additionally, the Company operates two e-commerce websites, www.tjmaxx.com and www.homegoods.com. TJX's press releases and financial information are also available on the Internet at www.tjx.com.
SAFE HARBOR STATEMENTS 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: our ability to continue successful expansion of our store base; risks of expansion; our ability to successfully implement our opportunistic inventory strategies and to effectively manage our inventories; consumer confidence, demand, spending habits and buying preferences; effects of unseasonable weather; competitive factors; factors affecting availability of store and distribution center locations on suitable terms; factors affecting our recruitment and employment of associates; factors affecting expenses; success of our acquisition and divestiture activities; our ability to successfully implement technologies and systems; our ability to continue to generate adequate cash flows; general economic conditions; potential disruptions due to wars, natural disasters and other events beyond our control; changes in currency and exchange rates; import risks; adverse outcomes for any significant litigation; changes in laws and regulations and accounting rules and principles; 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.
