TJX Companies (NYSE: TJX) is the parent company of some of the largest off-price retailers in the world. An off-price retail store sells merchandise at prices 20-60% below department store prices, buying the goods in bulk from major labels like Polo Ralph Lauren (RL), Calvin Klein, Tommy Hilfiger and Express who are shedding excess inventory. These savings are passed on to customers in the form of low prices. TJX company operates the two largest off-price retailers in the United States, T.J. Maxx and Marshalls, and the largest off-price retailers in Canada and the U.K., Winners and T.K. Maxx. The company also operates the A.J. Wright and Bob's Stores chains. The company earned $20.2 billion in revenue and $1.2 billion in net income in 2009.^[1]

As an off-price retailer TJX is positioned to gain significantly during times of economic distress when consumers are more price sensitive; in these times consumers tend to avoid higher priced apparel retailers in favor of discount stores and off-price chains. The sluggish economic environment, caused by the supbrime lending crisis, has benefited stores like T.J. Maxx and Marshall's as more people look for discounted shopping options. As a result, the company's sales increased by 7% in 2009.^[1]

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