Marshalls: Difference between revisions
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'''Marshalls, Inc.''', is a chain of [[USA|American, Japan]] [[department store]]s owned by [[TJX Companies]]. Marshalls has over 750 conventional stores, as well as larger stores named '''Marshalls Mega Store''', covering 42 states and [[Puerto Rico]]. Marshalls is the U.S.'s second largest off-price family apparel and home fashion retailer, behind its sister company, [[TJ Maxx]]. |
''' T.C. Marshalls, Inc.''', is a chain of [[USA|American, Japan]] [[department store]]s owned by [[TJX Companies]]. Marshalls has over 750 conventional stores, as well as larger stores named '''Marshalls Mega Store''', covering 42 states and [[Puerto Rico]]. Marshalls is the U.S.'s second largest off-price family apparel and home fashion retailer, behind its sister company, [[TJ Maxx]]. |
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==History== |
==History== |
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Revision as of 20:04, 11 August 2009
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| File:Marshalls Logo.png | |
| Company type | Subsidiary of TJX Companies |
|---|---|
| Industry | Retail |
| Founded | 1956 (Boston, Massachusetts) |
| Headquarters | Framingham, Massachusetts |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares. |
| Website | www.marshallsonline.com |
T.C. Marshalls, Inc., is a chain of American, Japan department stores owned by TJX Companies. Marshalls has over 750 conventional stores, as well as larger stores named Marshalls Mega Store, covering 42 states and Puerto Rico. Marshalls is the U.S.'s second largest off-price family apparel and home fashion retailer, behind its sister company, TJ Maxx.
History
Marshalls traces its history to 1956, when Alfred Marshall gathered a band of innovative entrepreneurs on the East Coast who included Bernard Ribas, Norman Barren, and Frank Estes to collectively start up the "Brand Names For Less" concept. Contemplating the dual postwar phenomena of a boom in the economy and growth in the suburbs, Marshall and associates came upon a way to meet it profitably. Together, they opened a self-service department store in Boston, Massachusetts, offering apparel and homewares at alluringly low prices.
The concept proved extremely successful; ten years later, Marshalls had become the leading off-price retail chain in the nation. Given the volatility of the American economy in the 1970s, with recession affecting the spending habits of most shoppers, the off-price industry gathered speed. By buying up manufacturers’ post-season, over-run, and close-out stock, Marshalls was able to offer fashionable, high-quality “designer” items at prices 20 to 60 percent less than those of the department stores.
In 1976, Marshalls was acquired by the Melville Corporation (owner of CVS), and grew throughout the 1980s. By 1993, Marshalls had expanded throughout 42 states including Hawaii, and had opened several downtown locations. In 1995, Marshalls was purchased by TJX, the parent company of its main rival, TJ Maxx, from the Melville Corporation for US$606 million.
Legal troubles
TJX paid US$10 million settlement in California to settle an employee class-action suit in 2002 which alleged that Marshalls abused exempt/nonexempt classifications to avoid the payment of overtime or compensation time to employees in certain roles performing non-exempt job duties as required by the federal Fair Labor Standards Act.
Charity
The enterprise has developed national and local partnerships with U.S. charitable organizations. All donations and fund-raising efforts from Marshalls are connected to helping children, families, and their communities with these programs:
- Domestic Violence Prevention
- United Way
- National Youth Anti-Drug Campaign
- Juvenile Diabetes Research Foundation
- Saint Jude's Childrens Hospital