...Strategic Management A Case Study of the TJX Kestrel L. Ambrose American Public University System Abstract TJX Companies, Inc. is known as the world’s leading off-priced retailer of apparel and home fashions. With its steadily growing brand portfolio, the company aims to offer consumers better value proposition than department stores. Keywords: global strategic management, corporate governance, off-price retail, Global Strategic Management: A Case Study of The TJX Companies, Inc. Company Overview Based in Framingham, Massachusetts, The TJX Companies, Inc. (TJX or “the company”) is the leading retailer of off-priced fashion and home goods merchandise in the United States and worldwide. The company’s brand portfolio includes T.J. Maxx, Marshalls, HomeGoods and the Sierra Trading Post in the U.S.; Winners, HomeSense and Marshalls in Canada; and T.K. Maxx and HomeSense in Europe. These stores specialize in brand name apparel, footwear, accessories and home décor merchandise at discount prices, usually 20- 60% below department and specialty store prices. In 2013, TJX ranked 115th in the Fortune 500 rankings, jumping 10 spots from the previous year. This ranking makes the company number one in the specialty apparel retail industry on the Fortune 500 list, followed by Gap, L Brands, and Ross [ (Cable News Network, 2014) ]. Market and Products TJX operates in the niche off-price segment of the retail industry. The company operates under four major retail divisions:...
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...T.J.X. Companies, Inc. Final Case Study Report Nichols College T.J.X. Companies, Inc. is the leading off-price apparel and home fashions retailer in the United States and worldwide, ranking number 115 in the most recent Fortune 500 listings. They have the broadest demographic reaches in retail, all of which have enabled them to achieve successful, and profitable growth year after year, through many types of economic and retail cycles. With over 3,000 stores in six countries, approximately 179,000 associates and a fresh e-commerce presence, and they are growing faster than ever (“About the TJX Companies, Inc.,” 2014). Through T.J.X. Company’s innovative buying and sourcing strategies, they discover and deliver value for shoppers in many ways. Their goal is to provide customers with quality merchandise for the entire family, every day. Value means more than price to T.J.X. Company professionals; buyers are trained to recognize that true value is a combination of fashion, quality, brand and price. T.J.X Companies are known for their brand name and designer fashions at 20-60% off department store prices. They are able to do this by purchasing merchandise from designers when they over produce or other department stores over purchase. They go in during these certain situations and negotiate the lowest possible price to pass on the savings. How they buy is just as important as what they buy. They pride themselves in never having the same selection twice with new arrivals...
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...TJX companies are known to have a firewall system that does not block any activity that is suspicious on its own networks. Those data encryption that’s used to secure the wireless network at the TJX store outdated. Several of the home wireless networks are secured by using WPA or WPA2. This technology is a lot more complicated to crack. TJX were still using outdated WEP encryption. TJX locations each were lacking those firewalls and data encryption protocols. The company saved the debit and credit card which is also a violation of all card data security standard. The standard was created to reduce any debit and credit card data stored in the merchant systems. Lack of compliance wasn’t intended but the legacy software did not meet the current security standards. The TJX used several available tools to prevent, and limit the impact. Antivirus and the proper firewall software is installed on each machine and is attached to the network should be in place. Security of the wireless networks should have been created to prevent any possible hacks into the system. Data encryption and appropriately secure those passwords to prevent the attack. When there is lack of proper security the TJX companies will have to pay about 11 billion dollar. The banks that provided the cards that were stolen were forced to spend 300 million dollars to replace those stolen cards which are very expensive all because of card information being stolen. TJX responsibility was to make sure that each of the...
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...that TJ Maxx has been in business, year after year, their great flexibility, particularly for a company their size, has enabled them to succeed through various economic and business cycles. Their off-price mission is to deliver a rapidly changing assortment of fashionable, quality, brand-name merchandise at prices that are 20-60 percent less than department and specialty prices everyday. You may ask what is TJ Maxx’s brand definition--how do they make their money? First, let me say that TJ Maxx is the largest leading off-price retailer of apparel and home fashions in the world, ranking 119 in the most recent Fortune 500 listings. The company’s source merchandise globally from over 14,000 vendors in more than 60 countries and operate more like a sourcing machine than most retailers. Their financial strength gives them the strong foundation and flexibility to grow their business and simultaneously return value to shareholders. The elements of flexibility has been at the root of their consistent successful performance. They take an evolutionary, not a revolutionary approach. They seek clear visibility into expected financial returns before investing significantly or accelerate growth. http://www.tjx.com/about.asp The brand position of The TJX Companies, Inc. is to be a global, off-price value company. With the 34 years of experience under their belt, it has shown that the company can successfully expand the off-price concept throughout the...
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...numbers of more than 160 million accounts through many major retailers. Gonzalez and his team were charged with conspiracy to commit computer fraud and wire fraud. The computer fraud charge faces a maximum penalty of five years in prison and a possible maximum fine of $250,000, and the wire fraud charge faces a 30 year and $1 million fine on. This could rise to twice the amount that Gonzalez gained through the committing of the crimes if his gain is larger than the actual fine. Gonzalez found his targets through a list of Fortune 500 companies. He then did his research to find vulnerabilities in the payment processing systems the companies used. They also leased or controlled computers California, Illinois, Ukraine and the Netherlands to store malware that was used in their attacks against the companies. Gonzales and his team stole were able to get account numbers and expiration dates along with 20% of the customer’s name. The company has not disclosed the number of cards compromised but has indicated that it processes about 100 million transactions a month for about 250,000 businesses. Heartland did report that Gonzalez had cost them $12.6 million so far including legal costs and fines from many major credit cards. Gonzalez was a Secret Service informant who once went by the name Cumbajohnny. He was a top administrator for Shadowcrew when hwas arrested in 2003. When his connection to Shadowcrew was revealed he was put back to work as an undercover agent setting...
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...Checkpoint - TJX Companies IT/205 March 1, 2013 Checkpoint - TJX Companies This week’s checkpoint deals with the credit card data theft at TJX companies which occurred in July of 2005. According to the book Essentials of MIS, the thieves used a vulnerable wireless network from one of the department stores on the TJX network to gain access. (Laudon & Laudon, 2011, p. 243) After the thieves had access to the network the installed a sniffer program on one of the main computers of the network. They then were able to download any information that they needed to. The TJX Company was still using outdated weak wireless security encryption called WEP, (Wired Equivalent Privacy), instead of upgrading to a more secure version of wireless security, WPA, (Wi-Fi Protected Access). They also did not have any firewalls or data encryption in place. (Laudon & Laudon, 2011, p. 243). The tools that was needed to be in place to help stop this from happening was, the stronger wireless security of Wi-Fi Protected Access (WPA) standard with more complex encryption, they also needed to install strong firewalls, data encryption on computers, and to transmit credit card data to banks with encryption. This breach had some lasting effects on the TJX Company. One of the first effects was that the company had to strengthen the company’s information system security. They also had to agree to have a third-party auditor review their security measures every two years for the next twenty years...
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...Stock Report | October 2, 2012 | NYS Symbol: TJX | TJX is in the S&P 500 TJX Companies Inc (The) 55555 S&P Recommendation BUY Price $45.17 (as of Oct 2, 2012) 12-Mo. Target Price $50.00 Investment Style Large-Cap Growth UPDATE: PLEASE SEE THE ANALYST'S LATEST RESEARCH NOTE IN THE COMPANY NEWS SECTION GICS Sector Consumer Discretionary Sub-Industry Apparel Retail Summary TJX operates several chains of off-price apparel and home fashion specialty stores in the U.S., Canada, Germany, Poland, Ireland and the U.K. Key Stock Statistics (Source S&P, Vickers, company reports) 52-Wk Range $46.67– 26.89 Trailing 12-Month EPS $2.26 Trailing 12-Month P/E 20.0 $10K Invested 5 Yrs Ago $32,954 S&P Oper. EPS 2013 E S&P Oper. EPS 2014 E P/E on S&P Oper. EPS 2013 E Common Shares Outstg. (M) 2.50 2.77 18.1 736.1 Market Capitalization(B) Yield (%) Dividend Rate/Share Institutional Ownership (%) Price Performance $33.250 1.02 $0.46 87 Beta S&P 3-Yr. Proj. EPS CAGR(%) S&P Credit Rating 0.56 17 A Qualitative Risk Assessment 30-Week Mov. Avg. 10-Week Mov. Avg. 12-Mo. Target Price Relative Strength GAAP Earnings vs. Previous Year Up Down Volume Above Avg. No Change STARS LOW MEDIUM HIGH Below Avg. Our risk assessment reflects our view of TJX's leadership position in off-price retail and promising new merchandising and productivity initiatives that could boost sales and profit ...
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...EMPLOYMENT APPLICATION www.tjx.com Please print clearly in ink. The TJX Companies, Inc. considers all applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, gender identity and expression, marital or military status, or based on any individual’s status in any group or class protected by applicable federal, state, or local law. TJX also provides reasonable accommodations to qualified individuals with disabilities in accordance with the Americans with Disabilities Act and applicable state and local law. If you require an accommodation in the application process, please advise Management. Referred by: PERSONAL DATA FULL NAME: ______________________________________________________________________________________________________________ Last CURRENT CONTACT: First Middle Preferred Name (Optional) _____________________________________________________________________________________________________ Phone Email Address (Optional) CURRENT ADDRESS: __________________________________________________________________________ Street City State Zip Code PREVIOUS ADDRESS: _____________________________________________________________________________________________________ Street City State Zip Code Have you ever applied to HomeGoods, Marshalls, T.J. Maxx, Sierra Trading Post, or The TJX Companies, Inc.? Yes No If yes, provide dates and locations: __________...
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...4/8/2015 4/8/2015 Kendra Lewis Hewlett-Packard Kendra Lewis Hewlett-Packard Tjmaxx Company Kendra Lewis Tjmaxx Company Kendra Lewis Table of contents * History of Tjmaxx * Finances statements * Vertical and horizontal analysis * Ratios * Weakness and strengths History of TJmaxx Our History The TJX Companies, Inc. traces its history back to 1919 when Brothers Max and Morris Feldberg founded New England Trading Company in Boston, Massachusetts. This business prospered and in 1929 the Feldbergs opened their first retail store, devoted to selling ladies hosiery. Twenty years later, their one store had grown into a chain of women's apparel stores that stretched from New England to Washington D.C. In the mid-1950's, the next generation of Feldbergs - Stanley and Sumner - set out to build upon what their fathers had established - and the Zayre discount department store chain was born. Zayre Stores stood for offering convenience, selection and outstanding value for the whole family. In the mid-70's, a young and talented merchant, Ben Cammarata, was offered an opportunity to build a new off-price chain, and under his leadership, T.J. Maxx was born. With the success of T.J. Maxx, the Company grew into The TJX Companies, Inc., which today is the leading off-price retailer of apparel and home fashions in the United States and worldwide, offering great fashion, quality, and brand names at excellent values, every day. Here is a look at...
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...HomeGoods, a TJX Company: Evaluation and E-commerce Recommendations Table of Contents Abstract…………………………………………………………………………………… 3 Home Goods, a TJX Company, E-Commerce and Recommendations………………....... 4 Home Goods Current Use of the Web……………………………………………………. 4 Web Design Analysis ……………………………………………………………………. 5 What Works………………………………………………………………………. 6 Recommendations for Improvement……………………………………………… 6 Web Use for Future Growth …………………………………………………………….. 7 Strengths…………………………………………………………………………... 7 Weaknesses………………………………………………………………………... 8 Opportunities…………………………………………………………………….... 8 Threats…………………………………………………………………………….. 9 Ethical Considerations…………………………………………………………………….. 9 Conclusion………………………………………………………………………………… 10 References…………………………………………………………………………………. 11 Abstract Founded in 1992 and with more than 400 stores now nationwide, HomeGoods prides itself in finding one-of-a-kind, discounted home décor merchandise. HomeGoods offers a variety of products from “around the world, such as giftware, home basics, table-top, accent furniture, lamps, rugs, bath and bedding, decorative accessories, children's furniture, seasonal merchandise, and wall décor.” With weekly shipments, HomeGoods huge stores are constantly changing with merchandise. Their consumers come for the hunt. HomeGoods website is carefully designed with inspirational photos and decorating ideas, but it does not offer online shopping. Although it is very interactive, it can drive its...
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...TO: CEO of Gap Inc. FROM: Andre’ Snead I have conducted a company analysis on Gap Inc. and my findings resulted in the following recommendations to improve their sales for the next three years: * Gap Inc. need to produce a better advertisement campaign that relates more to their customers. * Fashion and brand-conscious consumers who shopped at retailers such as Gap tended to be emotionally driven in their purchasing behavior and were influenced by marketing efforts that showcased the store’s latest trends. According to Exhibit 1, buyers bargaining power is strong because they control what they purchase and from what retailer they purchase from. Buyers are more inclined to make wiser purchases because of the state of the economy. By producing a better advertising campaign, Gap Inc. can entice an emotionally driven customer that sees a commercial or a billboard to make a purchase. * Social media have taken over the lives of many consumers in America. This is another area that Gap Inc. should focus its advertisement strategy. By utilizing Facebook and Twitter, Gap Inc. can reach out to millions of their customers and increase their brand image, which is a key success factor in the retailing industry. (See Exhibit 2). * Gap Inc. should focus some of its resources and assets on producing plus-sized clothing in the United States market. * By 2010, the plus-sized segment in the clothing store industry reached 27 billion dollars. The number...
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...Tonisha Miller IT/205 Jennifer Gilmore CheckPoint: TJX Companies The old Wired Equivalent Privacy (WEP) encryption system was the security controls in place. A Wired Equivalent Privacy (WEP) is not very effective. WEP is built into all standard 802.11 products, but its use is optional. Many users neglect to use WEP security features, leaving them unprotected. The basic WEP specification calls for an access point and all of its users to share the same 40-bit encrypted password, which can be easily decrypted by hackers from a small amount of traffic. Stronger encryption and authentication systems are now available, but users must be willing to install them. TJX had also neglected to install firewalls and data encryption on many of the computers using the wireless network, and didn’t properly install another layer of security software it had purchased. TJX acknowledged in a Securities and Exchange Commission filing that it transmitted credit card data to banks without encryption, violating credit card company guidelines. TJX also retained cardholder data in its systems much longer than stipulated by industry rules for storing such data. The tools and technologies that could have been used to fix the weaknesses are some of the following: General controls govern the design, security, and use of computer programs and the security of data files in general throughout the organization’s information technology infrastructure. On the whole, general controls apply to all computerized...
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...excellent location to serve our target market. Because we are first focusing on selling our product to TJX Companies and it’s easier for us to communicate issues about business. The company will be located on high traffic commuter routes. Locating a facility with easy access to natural resources or suppliers helps we keep transportation costs low. Suppliers Cartsaurus is currently in trial run and we planned to make 1000 shopping carts as variability test in 50 TJMaxx and Marshalls stores. Company is in negotiations with two Kansas manufacturers to supply shopping carts. It will establish a relationship with a reputable shipping company and a freight agent to aid in the smooth transition of product from the manufacturer to our distribution center. Cartsaurus wishes to establish long-term loyal relationships with its suppliers. Factors such as history, reliability, reputation, delivery system, service, product guarantees and liability issues will be crucial in the final decision. Due to the company's expansion plans in years two and three, it is important that our suppliers have regional and possibly national coverage. Inventory Cartsaurus Company will keep 50-100 shopping carts as inventory, although this will depend on sales volumes and product demand during the first year of business. This lead time will be reviewed constantly and altered in accordance with company expansion and seasonal...
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...Check point TJX Company IT/205 MAY 24, 2012 Check point TJX Company Information security means protecting information systems from unauthorized access. To my understanding TJX failed to properly encrypt data on many of the employee computers that were using the wireless network, and did not have an effective firewall installed. In the reading it indicated that TJX was still using the old Wired Equivalent Privacy (WEP) encryption system, which is relatively easy for hackers to crack. The Wi-Fi equivalent privacy (WEP) was considered old, weak and ineffective, therefore I could say the security breach that TJX had experience was a resulted by using a cheap and inexpensive wireless Wi-Fi network like the Wired Equivalent Privacy (WEP) encryption system, which make it easy for hackers to navigate. This is why it is important that TJX should have invested in using the wireless Wi-Fi Protective access 2 (WPA2) The Wi-Fi Protected Access 2 (WPA2) standard in conjunction with a sophisticated encryption system could have been used to replace the WEP. In that situation an effective firewall would have prevent unauthorized users from accessing private networks, meaning firewall acts like a gatekeeper who examines each user’s credentials before access is granted to a network. An effective Firewall could have reduced the ability for hackers to gain access to sensitive information. A data security breach could result a variety of issues some of them could be loosing of confidence...
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...Case Study: Should T.J. Maxx Sell Online? Noor-E-Hira Naveed Devry University’s Keller School of Management July 15, 2016 The company doesn’t give out the names of the brands as those name brands don’t want to be seen being sold at such low process as they are at T.J. Maxx because they are last season and they have been bought from the outlets after not being sold. You can find high-end brands like Coach, Michael Kors, Ralph Lauren, and Nanette Lepore at T.J. Maxx. Meyrowitz the CEO of TJ Maxx said "We're absolutely fine with every vendor saying they don't do business with us, it's a very important part of our relationship.” TJ Maxx is working on a new mobile ad campaign that lets customers save big on the latest gadgets and tech accessories. Since there are so many mobile phone and devices used now for shopping this is a good tech move on TJ Maxx’s part. This campaign is all about promoting company’s technology accessories and consumer can find out what’s available in the local store through their mobile site. The ad enlarges when you click on it; take you onto a new window promoting these technology-based products discounted up to 70% if you go to the store. After that the customer or mobile site user can use the mobile’s location service or enter their ZIP code to locate the closest TJ Maxx store. Then you are taken map and directions of the store nearby. For TJ Maxx it’s not very feasible to merchandize online as the products in their stores vary greatly at different...
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