T.J. Maxx

T.J. Maxx
Subsidiary
Industry Retail
Founded 1976 (1976)
Founder Bernard Cammarata
Headquarters Framingham, Massachusetts, United States
Number of locations
 1,119 (end of 2014)[1]
Products Clothing, footwear, bedding and domestics, furniture and giftware
Parent TJX Companies
Slogan Maxx Style. Maxx Savings. Maxx Life.
Website tjmaxx.tjx.com/store/index.jsp
T.J. Maxx store, Ypsilanti, MI
T.J. Maxx, Peabody, Massachusetts

T.J. Maxx, often styled T.J.Maxx, is an American department store chain. With more than 1,000 stores, T.J. Maxx is a major clothes retailer in the United States.[2]

The company is part of the TJX Companies, which also owns HomeGoods/HomeSense, and 'off-price' retail chains Sierra Trading Post in the United States, Marshalls in the U.S. and Canada, and Winners in Canada. Under the name T.K. Maxx, its parent company TJX operates stores throughout the United Kingdom, Ireland, Germany, Poland, Austria and The Netherlands.[3] It offers men's, women's and children's apparel and shoes, as well as other areas such as toys, bath and beauty, accessories, and home products ranging from furniture to kitchen utensils.

T.J. Maxx and Marshalls operate as sister stores, and share a similar footprint throughout the country. While the two operate at near-identical price points and have similar store layouts, T.J. Maxx differentiates itself from Marshalls by having a more upscale appearance and typically features an expanded assortment of both fine jewelry and accessories. Some higher-volume stores feature a high-end designer department called The Runway.

[4]

The CEO of TJX companies is Carol Meyrowitz.

History

In 1976, T.J. Maxx was founded in Framingham, Massachusetts by Bernard Cammarata, as a nameplate of the Zayre chain of discount department stores. When Zayre sold their own nameplate to Ames, a rival discount department store, Zayre was renamed as "TJX Companies, Incorporated".

In March 2009, its e-commerce site was launched at first only selling handbags. The range of products has now been expanded and includes other accessories.[5]

2007 credit card fraud

In March 2007, the company was at the centre of major credit card fraud which affected its international operations. Details of customers' credit cards and debit cards were accessed by computer hackers, exposing 45.7 million customers to potential theft from their accounts. According to the company, this affected customers who used their card between January 2003 and June 2004 at any branch of T.K. Maxx.[6] Details were stolen by hackers installing software via wi-fi[7] in June 2005 that allowed them to access personal information on customers. The breach continued until January 2007.[8]

Eleven people from around the world were charged with the breach in 2008.[9] Outside security provider Protegrity has estimated that T.K. Maxx's losses as a result of the data breach may reach £800 million in the years to come. The losses would come as a result of paying for credit checks and administrative costs for managing the fallout from the breach.[10]

Data theft

In 2007, the company disclosed a computer security breach dating back to 2005. Hackers gained access to information on more than 45 million credit and debit card accounts for transactions since January 2003.[11]

The T.J. Maxx Corporation was sued by the Massachusetts Bankers Association and co-plaintiffs including Maine and Connecticut Associated Banks for the data theft. In March 2010, Albert Gonzalez, a computer hacker, was sentenced to 20 years in federal prison after confessing to stealing credit and debit card details from a number of companies, including T.J. Maxx.[12]

Charity work

Every year, T.J. Maxx supports the Save the Children campaign and each store adopts a child to help support. In 2005, they raised over $1.25 million. The “Happy Hearts” initiative launched in 2000 has raised over $4.3 million to support U.S. children and families in need.

In December 2014, T.J. Maxx started raising money for the St. Jude Children's Research Hospital.

See also

Notes

  1. ↑ "T.J.Maxx".
  2. ↑ T.J. Maxx, The TJX Companies, Inc., undated. Retrieved: 28 November 2015.
  3. ↑
  4. ↑ http://www.tjx.com/businesses_tjmaxx.asp
  5. ↑ Thompson, James (2009-08-19). "Discount fashion: Taking it to the Maxx". The Independent. Retrieved 2009-09-11.
  6. ↑ Richards, Jonathan; Seib, Christine; Brown, David (2007-03-30). "Millions are caught in great credit card heist". London: TimesOnline.co.uk. Retrieved 2007-06-25.
  7. ↑ Espiner, Tom (2007-05-07). "Wi-Fi hack caused TK Maxx security breach". ZDNet. Retrieved 2009-09-16.
  8. ↑ Kawamoto, Dawn (2007-03-30). "TK Maxx owner: 45.7m accounts were compromised". ZDNet. Retrieved 2009-09-16.
  9. ↑ Espiner, Tom (2008-08-06). "Alleged TJX hackers charged". ZDNet. Retrieved 2009-09-16.
  10. ↑ John E., Dunn (2007-06-12). "T.K. Maxx data breach costs could hit £800m". ComputerworldUK. Retrieved 2007-06-25.
  11. ↑ "T.J. Maxx data theft worse than first reported". msnbc.com. 2007-03-29. Retrieved 2009-02-16.
  12. ↑ McCullagh, Declan (March 25, 2010). "T.J.Maxx hacker sentenced to 20 years in prison". cnet.com. Retrieved 4 July 2010.

External links

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