TJ Maxx bucks trend, sells online - FOX 35 News Orlando

TJ Maxx bucks trend, sells online

Posted: Updated:

Mary Clare Jalonick, AP Business Writer

NEW YORK (AP) - Deal hunters have a new online option: This week, off-price retailer T.J. Maxx has quietly begun letting its customers shop online.

Off-price retailers like T.J. Maxx buy excess clothing and home goods from other merchants and sells them at about 20% to 60% off regular prices.

Few mainstream off-price retailers have full-featured e-commerce sites since the brands that they work with are often reluctant to broadcast the discount prices online. But that view is dissipating, said RBC Capital Markets analyst Howard Tubin, particularly as off-price flash-sale websites Gilt and Rue La La become more popular.

"I think it's a great move for (T.J. Maxx)," Tubin said, saying it will be a good source of added sales.

The company's website, tjmaxx.com, also works on tablets and smartphones, said Doreen Thompson, TJX Cos.' vice president of corporate communications.

Customers can return most merchandise purchased online at any of the company's more than 1,000 T.J. Maxx stores or ship it back, she said.

The launch of the website had been expected this fall. An e-commerce website is a way to attract customers that don't already shop at T.J. Maxx, as well as giving existing customers an ability to shop "24/7," said TJX CEO Carol Meyrowitz on the company's most recent earnings conference call in August.

She said then that the company was taking a "deliberate approach" to the web to make sure the site is profitable. TJX first tried a short-lived shopping site in 2004, which closed a year later.

TJX Cos., based in Framingham, Mass., operates 3,000 stores including T.J. Maxx, Marshalls and HomeGoods in the U.S., Winners, HomeSense and Marshalls in Canada and T.K. Maxx and HomeSense in Europe. Of the company's brands, only T.J. Maxx appeared to be offering the online shopping option in the U.S.

In December 2012 TJX bought Sierra Trading Post, a discount online retailer, for $200 million to expand its online business.

TJX shares fell 8 cents to $56.76 late in the afternoon, earlier peaking at a 52-week high of $57.16.

___

Online: tjmaxx.com

  • Your MoneyMore>>

  • Beach fashion

    Long-sleeved swimsuit is latest beach and pool fashion trend

    Long-sleeved swimsuit is latest beach and pool fashion trend

    Monday, July 21 2014 6:13 PM EDT2014-07-21 22:13:49 GMT
    You have lots of ways to look stylish on the beach, from a bikini to a tankini to a one piece. But the newest trend is long-sleeved swimsuits -- modesty takes precedence over a golden glow. The new beachwear is turning up on sites like ASOS and on luxury sites like Neiman Marcus. There are one piece versions and crop top versions.One of the pioneers of the trend is Dallas-based clothing company Cover.
    You have lots of ways to look stylish on the beach, from a bikini to a tankini to a one piece. But the newest trend is long-sleeved swimsuits -- modesty takes precedence over a golden glow. The new beachwear is turning up on sites like ASOS and on luxury sites like Neiman Marcus. There are one piece versions and crop top versions.One of the pioneers of the trend is Dallas-based clothing company Cover.
  • Wawa to close first store opened 50 years ago

    Wawa to close first store opened 50 years ago

    Monday, July 21 2014 3:01 PM EDT2014-07-21 19:01:43 GMT
    Wawa plans to close the first convenience store opened by the chain in the Philadelphia suburbs a half-century ago.  Susan Bratton, Wawa's regional real estate manager, says the old store is just too small.
    Wawa plans to close the first convenience store opened by the chain in the Philadelphia suburbs a half-century ago.  Susan Bratton, Wawa's regional real estate manager, says the old store is just too small.
  • Cable company customer service rage

    Cable company customer service rage

    Wednesday, July 16 2014 10:58 PM EDT2014-07-17 02:58:18 GMT
    Find someone, anyone, with cable TV who hasn't had at least one miserable experience dealing with that company's customer service people and you've accomplished something we couldn't. But in fairness to the cable companies, whose business model at this point resembles that of a cartel, as customers we don't always handle system outages or the explanations for them in the most mature fashion.
    Find someone, anyone, with cable TV who hasn't had at least one miserable experience dealing with that company's customer service people and you've accomplished something we couldn't. But in fairness to the cable companies, whose business model at this point resembles that of a cartel, as customers we don't always handle system outages or the explanations for them in the most mature fashion.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices