TJX operates seven brands in the United States, Canada,
and Europe--including T.J. Maxx, Marshalls, and HomeGoods--and is the
leading retailer of off-price apparel and home fashions in the U.S. and
worldwide. It operates very differently from traditional retailers: Each
of its stores has a vast number of SKUs, offering customers virtually
an entire mall within about 23,000 square feet of selling space; and to
find the right products, it sources from more than 16,000 vendors around
the globe. Customers expect to have what Meyrowitz calls a
"treasure-hunt shopping experience" when they enter a TJX store. The company's buyers are crucial to providing the merchandise for that experience, and its CEO
puts a high priority on teaching and developing them. They must
thoroughly understand consumer and fashion trends and the right value
for every product TJX sells. They must be opportunistic
and extremely flexible. And they must develop relationships with the
vendors. Meyrowitz's long-term vision is to grow TJX revenue from $26 billion today to $40 billion and beyond--and that will require many more buyers
who are entrepreneurial, empowered, and team-oriented. "They need to be
intelligent risk takers," she says. "They need to have great instincts
and to be comfortable making big decisions."