Stock Highlight: The TJX Companies, Inc.

1 min read
30/09/19 11:50 PM

The TJX Companies, Inc. is a leading discount apparel and home fashions retailer in the United States and operates T.J.Maxx here in Australia. As of the end of 2018, it had more than 4,300 stores in nine countries, three e-commerce sites and approximately 270,000 employees. TJX not only delivers great value to customers by selling brand name and designer merchandise for 20-60% less than full-price retailers, but it also delivers value to local communities by way of its several social initiatives.

TJX focuses on four social impact areas aimed at fulfilling basic needs, providing education and training, supporting research and care for life-threatening illnesses, and preventing domestic violence for at-risk families and children. In 2018, TJX foundation philanthropic grants, employee donations and in-store fundraising campaigns resulted in 33.3 million meals and 1.3 million units of clothing for families in poverty, 2.5 million young people being sponsored in education programs, 147 thousand domestic violence services, and US$31 million in donations for healthcare research and patient care.

TJX also founded the Youth Business Institute (YBI) in 1999, which provides young people in Boston, Massachusetts with skills and job training. YBI offers workshops on time management, budgeting, resume building and interview preparation, all taught by TJX employees. Since 2012, more than 1,400 students have graduated from the 11 week program and TJX has awarded almost US$1 million in scholarships to YBI students and hired nearly 800 program graduates into full and part-time positions within the company.