TJ Maxx bucks trend, sells online - Los Angeles News | FOX 11 LA KTTV

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>>

  • Monitoring your kids' driving in real time

    Monitoring your kids' driving in real time

    Wednesday, August 27 2014 10:46 PM EDT2014-08-28 02:46:07 GMT
    Many new Ford and GM cars have built-in technology that allows you to monitor speed, signaling, and navigation when your child is driving. But when it comes to this type of digital snooping, teens and their parents often have differing opinions. Kids may call it an invasion of privacy. Most parents, of course, will likely feel otherwise.
    Many new Ford and GM cars have built-in technology that allows you to monitor speed, signaling, and navigation when your child is driving. But when it comes to this type of digital snooping, teens and their parents often have differing opinions. Kids may call it an invasion of privacy. Most parents, of course, will likely feel otherwise.
  • Glamsquad app

    Hair and makeup house call

    Hair and makeup house call

    Tuesday, August 26 2014 10:27 PM EDT2014-08-27 02:27:35 GMT
    A new app is bringing the star treatment to the masses. Glamsquad delivers a hair and makeup artist to your doorstep.I invited them over to my place. Kelly did my makeup and Erin styled my mane. They helped me select a look from examples on the app and they encouraged me to tweak the looks to fit my style.
    A new app is bringing the star treatment to the masses. Glamsquad delivers a hair and makeup artist to your doorstep.I invited them over to my place. Kelly did my makeup and Erin styled my mane. They helped me select a look from examples on the app and they encouraged me to tweak the looks to fit my style.
  • Passing on your online accounts after you die

    Passing on your online accounts after you die

    Tuesday, August 26 2014 10:07 PM EDT2014-08-27 02:07:19 GMT
    Your Facebook page or email could soon be passed on in a will just like physical property. Delaware is the first state to allow heirs access to their loved ones' digital legacies. Pedram Tabibi, a social media attorney, says in many cases this can be vital information, like banking and health data. He says current terms and conditions for websites such as Apple, Amazon, and Google won't let an account get passed onto someone else.
    Your Facebook page or email could soon be passed on in a will just like physical property. Delaware is the first state to allow heirs access to their loved ones' digital legacies. Pedram Tabibi, a social media attorney, says in many cases this can be vital information, like banking and health data. He says current terms and conditions for websites such as Apple, Amazon, and Google won't let an account get passed onto someone else.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

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