Team 8. The TJX Companies, Inc. (TJX): TJX Companies Inc.: Riding The Consumer Value Wave. One of the key macro themes underway is that even after employment and wages recover consumers will remain significantly more price conscious relative to attitudes seen over the prior three decade spending boom.
Given this trend, I believe The TJX Companies (TJX) is the best positioned apparel retailer to benefit from a secular shift in consumer preference for greater value. TJX is the leading off-price apparel and home fashions retailer with revenues that are almost three times as large as its nearest competitor, Ross Stores (ROST). The company sells a wide selection of brand-name and designer merchandise at low prices, generally 20% to 60% below department and specialty retail stores, providing customers with both quality and value. Our Businesses. Our Businesses We are The TJX Companies, Inc. and our vision is to be a global, off-price value Company.
Our over 3,000 stores offer a rapidly changing assortment of quality, fashionable, brand name and designer merchandise at prices generally 20%-60% below department and specialty store regular prices, every day. Over our history, we have successfully expanded the off-price concept throughout the U.S. and internationally. Operating in the U.S., Canada and Europe, our experience has shown us that our great value equation plays well in many countries around the world and appeals to customers from a wide range of income and age demographics.
Investor Information. Succeeding in All Types of Environments The TJX business model is built to have tremendous flexibility and grow with the times, enabling us to navigate through economic downturns as well as upturns.
Over our 36-year history, we have achieved consistent, strong performance. In fact, over this period we have had only one year with a comparable store sales decline. Target Stores – A 50 year-old Strategy to Not Compete in the Status Quo. Blair Severn, Azure Corporation Heather Wilson, Rotman Information Solutions Knowing how did they do it, how Target Stores became the success they are today, begins with understanding Target’s fifty year-old strategy to “not compete” in the status quo.
In May 1962 when the first Target store opened its doors, competing in the status quo meant figuring out how to be the better department store or be the better discount store. The founders of Target chose neither and chose both, ‘putting an end to the status quo’. Fifty years ahead of their time, Target’s success was set in motion by their decision to put aside the binary limits of either-or. Payment card issue FAQ. What happened?
In mid-December, we learned criminals forced their way into our system, gaining access to guest credit and debit card information. Confirms Unauthorized Access to Payment Card Data in U.S. Stores. Target today confirmed it is aware of unauthorized access to payment card data that may have impacted certain guests making credit and debit card purchases in its U.S. stores.
Target is working closely with law enforcement and financial institutions, and has identified and resolved the issue. “Target’s first priority is preserving the trust of our guests and we have moved swiftly to address this issue, so guests can shop with confidence. We regret any inconvenience this may cause,” said Gregg Steinhafel, chairman, president and chief executive officer, Target. “We take this matter very seriously and are working with law enforcement to bring those responsible to justice.” Target confirms PIN data was stolen in breach - Dec. 27, 2013. Reversing its initial stance, Target now says that PINs were stolen in the retailer's massive breach of 40 million accounts.
NEW YORK (CNNMoney) For Target, the Breach Numbers Grow. Photo Target on Friday revised the number of customers whose personal information was stolen in a widespread data breach during the holiday season, now reporting a range of 70 million to 110 million people.
The stunning figure represents about a third of all American adults at the low end, and is nearly three times as great as the company’s original estimate at the upper end. The theft is one of the largest ever of retail data. Not only did Target’s announcement disclose a vastly expanded universe of victims, but it revealed that the hackers had stolen a broader trove of data than originally reported.
The company now says that other kinds of information were taken, including mailing and email addresses, phone numbers or names, the kind of data routinely collected from customers during interactions like shopping online or volunteering a phone number when using a call center. Confirms Unauthorized Access to Payment Card Data in U.S. Stores. Sources: Target Investigating Data Breach.
Nationwide retail giant Target is investigating a data breach potentially involving millions of customer credit and debit card records, multiple reliable sources tell KrebsOnSecurity.
The sources said the breach appears to have begun on or around Black Friday 2013 — by far the busiest shopping day the year. Update, Dec. 19: 8:20 a.m. ET: Target released a statement this morning confirming a breach, saying that 40 million credit and debit card accounts may have been impacted between Nov. 27 and Dec. 15, 2013. Original story; According to sources at two different top 10 credit card issuers, the breach extends to nearly all Target locations nationwide, and involves the theft of data stored on the magnetic stripe of cards used at the stores.
Minneapolis, Minn. based Target Brands Inc. has not responded to multiple requests for comment. TJX's security breach handling.