TJX Swinging for the Fences
Cecile Corral -- Home Textiles Today, November 28, 2005
Framingham, Mass. — TJX Companies Inc. is ramping up its marketing budget to roll out this holiday a “hard-hitting” campaign that centers on specific products and key price points, the company reported during its third quarter earnings call.
Carol Meyrowitz, president, said TJX is “spending a little bit more — not a lot — on our marketing, and I think it is a lot harder hitting for Thanksgiving through the holiday season. You'll see very specific categories and price points that are going to come out. And we have really spectacular product. I won't be too specific, but it will focus on luxury items and great brands.”
She added that holiday will bring some “great new (product) mixes” in December, across the board in every division.
As part of a larger effort to bring in more brands and diversify product offerings, TJX is now more open to buy than it was a year ago.
“We are going top of market, looking for the best of the best,” Meyrowitz said. “The market is loaded right now … and we will be as aggressive as we can be with the off-price part of business. We are not entirely branded today as we should be, and I think that will change by December.”
Citing the home category as one of the areas experiencing an up-tick in sales right now, Meyrowitz also singled out home as one of a few businesses the company sees having opportunities to grow.
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