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Tjx Companies Research Paper

1966 Words8 Pages

Loren Mijares Economic 1B Professor Torres Deember 3, 2017 TJX Companies We are born to be shoppers. We as customers can go into any store in the mall and even though their plan was to shop for one thing and only one thing, we end up buying the entire women’s and men’s department of the store. We all enjoy looking good, polished, and clean. But which is your favorite store? Is it American Eagle, Hollister, or Nordstrom? Well, according to annual sales it seems to be one of the TJX companies stores like Marshalls, T.J. Maxx, and HomeGoods. Surprising right? Most people would think it would be Macy’s or JCPenney, but it turns out customers are a big fan of the off-price market. The TJX Companies, Inc. (TJX), formed into a legal corporation …show more content…

The retail industry is undergoing a period of rapid change. To stay relevant, TJX companies recognize the need to innovate. This need is driven primarily by digital technologies. In today's society, digitally reliant customers demands more ways to buy and more engaging paths to purchase. TJX companies used to be the type of retail that goes by, "Wonderful surprises arrives every day. Be the first to see and have it all!" But now they have adjusted to today's society by letting T.J. Maxx have their own online website for customers to no longer need to wait outside of the store thirty minutes before opening to see the all new arrived merchandise. Innovating adds …show more content…

TJX plans to open over 5,600 stores in the next couple of years focusing on customer convenience. The most innovative retail businesses employ an integrated horizontal structure, embrace a culture of change, support agile, collaborative teams, and dedicate resources and investment to innovation. A business environment fostering new ideas opens a world of innovation opportunities. Mobility is connecting to customers through mobile devices and mobile point of sale and mobile kiosk in store means improved customer engagement and service. Retailers today suffer from today are left wondering how to innovate and stay relevant. FINANCIAL STRENGTH Revenue According to Yahoo Finance over the past 3 years TJX Companies has continuously increase in profit. In 2015, their total revenue was $29,078,407, cost of revenue was $20,776,522, and gross profit was $8,301,885. In 2016, their total revenue was $30,944,938, cost of revenue was $22,034,523, and gross profit was $8,910,415. In 2017, their total revenue was $33,183,744, cost of revenue was $23,565,754, and gross profit was $9,617,990. Operating Expense Mijares 8 As of operating expense, in 2015 the cost of selling general and administrative cost them $4,695,384 and total operating income or loss was $3,606,501. In 2016, their selling general

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