The ad slogan at discount retailer TJX’s T.J. Maxx chain has long been “get the max for the minimum.” The company, which operates more than 2,000 stores, followed its own advice last year, slashing 250 jobs at headquarters and cutting top executives’ pay by 10%. It renewed its emphasis on low-priced, chic apparel by hiring more buyers on the West Coast to make its merchandise more fashion-forward. CEO Carol Meyrowitz, promoted from president in January, also expanded jewelry counters and tested designer departments. The moves paid off as annual sales rose 9% last year, and net income gained 7%. The year was not an unvarnished success, however. TJX disclosed in January that hackers had stolen millions of credit-card numbers from its PCs over the past two years. Sales are strong, but the company could be sullied by lawsuits.
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|Total Return||Past 12 Months|
|Past 36 Months
|Economic Sector||Consumer Discretionary|