Marshalls
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Retail |
| Founded | 1956 Beverly, Massachusetts, U.S. |
| Founder | Alfred Marshall Bernard Goldston Norman Barren |
| Headquarters | Framingham, Massachusetts |
Number of locations | US - 975 (End of 2014),[1] Canada - 38[2] |
| Products | Clothing, footwear, bedding, furniture, jewelry, and beauty products. |
| Parent | TJX Companies |
| Website | www.marshallsonline.com/ (USA), www.marshallscanada.ca (Canada) |
Marshalls, Inc., is a chain of American and Canadian off-price department stores owned by TJX Companies. Marshalls has over 975 conventional stores, including larger stores named Marshalls Mega Store, covering 42 states and Puerto Rico, and 38 stores in Canada. Marshalls first expanded into Canada in March 2011.[3] Marshalls is U.S.'s second largest off-price family apparel and home fashion retailer, behind its sister company, T.J. Maxx.
History
Marshalls traces its history to 1956, when Alfred Marshall (February 28, 1919 – December 28, 2013)[4] gathered a band of innovative entrepreneurs on the East Coast who included Bernard Goldston and Norman Barren (Frank Estey and Bernard Ribas joined the entrepreneurs in 1960 by purchasing Bernard Goldston's shares) 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 Beverly, Massachusetts, offering apparel and homewares at alluringly low prices. Additional floor space was "sublet" to offer customers shoes, hardware and sporting goods from separate sellers, but the separate ownership of those departments was invisible to the shopper. The original store also had a soda fountain/grill... another sublet of floor space, the "A & M Luncheonette" (for Alice & Mickey Masters, the proprietors).
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, overrun, 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 Melville Corporation (owner of CVS), and experienced tremendous growth from 1977 into 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, T.J. Maxx, for $606 million.
Marshalls and T.J. Maxx operate as sister stores, and share a similar footprint throughout the country. While the two operate at near-identical price points and have similar store layouts, Marshalls differentiates itself by featuring a larger emphasis on family footwear and larger men's and juniors departments.[5]
Legal troubles
TJX paid US$100 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.[citation needed]
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
- St. Jude Children's Research Hospital
Marshalls Canada
As of December 2014, Marshalls Canada has 38 stores. [6] Marshalls Canada opened three stores in Ontario in March 2011 in the Toronto areas of Scarborough and Leaside, and the suburban Vaughan area of Woodbridge. These stores are located in the vicinity of Winners and HomeSense stores, which are also divisions of TJX. More stores opened in Ajax and Mississauga in April 2011, as well as in Ottawa. Marshalls opened one store in Kitchener in March 2012.[citation needed] On April 4, 2013, Marshalls opened 7 new stores in the following locations: Hamilton, London, Mississauga, Markham, Toronto, Vancouver, and Winnipeg. On March 27, 2014, Marshalls opened a new store in Victoria and Halifax. On August 21, 2014, Marshalls opened a new store in Calgary, Kelowna, Halifax, Moncton and Vaughan. On September 18, 2014, Marshalls opened a new store in Montreal.
References
- ^ "Marshalls - Our Businesses - The TJX Companies, Inc". www.tjx.com.
- ^ "Marshalls Canada - Our Businesses - The TJX Companies, Inc". www.tjx.com.
- ^ Shaw, Hollie (July 20, 2010). "TJX to open Marshalls in Canada". Financial Post. Retrieved May 27, 2012.
- ^ http://www.nytimes.com/2014/01/02/business/alfred-marshall-founder-of-stores-that-bear-his-name-dies-at-94.html?ref=obituaries&_r=0
- ^ http://www.tjx.com/businesses_marshalls.asp
- ^ TJX Companies
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