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Business Description
The TJX Companies, Inc. is an off-price retailer of apparel and home fashions in the United States and worldwide. The Company has positioned itself as a synergistic group of off-price businesses, and has expanded its off-price concept to new geographic areas, new product lines and new demographic markets. The Company offers off-price family apparel and home fashions through its T.J. Maxx, Marshalls and A.J. Wright chains in the United States; its Winners chain in Canada, and its T.K. Maxx chain in the United Kingdom and Ireland. The Company also operates HomeGoods in the United States, a chain that focuses exclusively on off-price home fashions. During the fiscal year ended January 26, 2002, the Company launched a Canadian home fashions chain called HomeSense.

Financial Information
The TJX Companies, Inc. operates off-price apparel and home fashions retail stores under the names T.J. Maxx, Marshalls, T.K. Maxx, HomeGoods and A.J. Wright Stores. For the 26 weeks ended 7/27/02, sales increased 14% to $5.43 billion. Net income rose 17% to $276.7 million. Net sales benefited from new store openings and higher same store sales. Earnings also reflect improved gross margins and lower operating expenses as a percentage of sales.