TJ Maxx is one of the most popular clothing retailers in the US, and attracts a wide range of shoppers of all ages and income levels, as shoppers are drawn to the low prices on quality items from known national and designer brands.
However, sometimes people confuse TJ Maxx with discount and closeout stores. If you’ve ever wondered what exactly TJ Maxx is, read on to find all the answers below!
What Is TJ Maxx In 2023?
TJ Maxx is an off-price retailer selling leading brand apparel and home fashions at heavily discounted prices in 2023. TJ Maxx is the flagship retail chain for the TJX Companies which also owns Marshalls, Home Goods, and Sierra, as well as stores in Europe, Canada, and Australia. TJX Companies (TJX) are publicly traded on the New York Stock Exchange.
To find out more about what TJ Maxx is known for, its mission statement, merchandise, and competitors read on for tons of information below!
What Is TJ Maxx Known For?
TJ Maxx is an off-price retailer, known for selling leading brand name merchandise at low prices that are 20 to 60% lower than department store prices for similar items.
The company sells fashion apparel and accessories, housewares, furniture, home decor, shoes, gifts, toys, and gourmet foods.
Who Owns TJ Maxx?
The TJ Maxx retail chain is part of the TJX Companies, which also own Marshalls, HomeGoods, and Sierra, as well as stores in Canada, Europe, and Australia.
As of 2021, TJX companies have over 4,500 stores in nine countries, and four e-commerce sites in the US and Canada.
There are over 1200 TJ Maxx stores in the US as of 2020.
The headquarters of the TJX Companies are in Framingham, Massachusetts.
The first TJ Maxx stores were opened in Massachusetts in 1977, under the leadership of Ben Cammarata.
Mr. Cammarata served as CEO of TJ Maxx until June 2015 and continues as Executive Advisor to the TJX Companies, Inc.
TJX is not owned by any individual but is a publicly-traded company managed by a Board of Directors assisted by Executive Committees.
Currently, the CEO of TJ Maxx is Ernie Herman.
What Is the TJ Maxx Stock Symbol?
The TJX Companies Inc. is publicly traded on the New York Stock Exchange, under the symbol TJX.
TJX is ranked at #97 in the Fortune 500 listings for 2021.
What Is the TJ Maxx Mission Statement?
The TJ Maxx mission statement is the same as the vision for TJX Companies, and the full version can be found on the company website.
It’s not officially called a mission statement but lays out the TJX Companies’ mission. The opening paragraph summarizes the essence of the TJX mission:
“At TJX, our mission is to deliver great value to our customers every day.
We do this by offering a rapidly changing assortment of high-quality, fashionable, brand name and designer merchandise, all at amazing values.
Just as our mission has remained steadfast for nearly 45 years, so has our commitment to acting as a responsible corporate citizen.”
What Is the Difference Between TJ Maxx and Marshalls?
TJ Maxx and Marshalls are both off-price retailers selling brand name merchandise at discounted prices, and both are owned by the TJX Companies.
While the merchandise you can find at the two stores is largely similar, TJ Maxx tends to have slightly better or more upscale items.
Further, TJ Maxx stores have a larger selection of jewelry and accessories.
Some TJ Maxx stores also feature The Runway, which is a section with discounted high-end designer clothing.
Is TJ Maxx the Same as HomeGoods?
TJ Maxx and HomeGoods are owned by the same company, the TJX group.
Some of the merchandise that TJ Maxx sells is very similar to what you’d find at HomeGoods.
Are TJ Maxx Products Real?
TJ Maxx prices are so low that many people wonder if they are knockoffs instead of authentic designer brand items.
However, experienced shoppers and analysts agree that a reputed company like TJ Maxx would not take the risk of lawsuits for license infringement by major designers.
The prices are 20 to 60% lower than what you would pay at major department stores for similar items, but that’s because of the buying strategies used by TJ Maxx buyers.
Is TJ Maxx a Discount Store?
TJ Maxx is not a discount or closeout store but belongs in a category of stores known as off-price retailers.
Other well known off-price retailers include:
- Nordstrom Rack
- Tuesday Morning
- Century 21
- Saks Off 5th
What Does TJ Maxx Sell?
TJ Maxx stores sell a variety of brand name apparel, fashion accessories, and home goods.
The inventory at TJ Maxx changes all the time, but the main categories of merchandise you can find in these stores include the following:
- Mens, womens, and children’s apparel
- Bath and beauty
- Home products
- Gourmet foods
What Are TJ Maxx’s Major Competitors?
TJ Maxx’s major competitors include other off-price retailers, big box stores like Target, Walmart, and HomeGoods stores like Bed Bath & Beyond.
The main off-price retailers that compete with TJ Maxx include:
- Ross Labels for Less
- Burlington Companies
- Nordstrom Rack
- Saks Off 5th
TJ Maxx is a popular off-price retailer selling brand name apparel and home fashions at discounted prices.
There are over 1200 TJ Maxx stores in the world. The company is owned by TJX Companies, which have over 4,000 stores in nine countries around the world.