Marshalls

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Marshalls, Inc.
Company type Subsidiary
Industry Retail
Founded1956;68 years ago (1956)
Beverly, Massachusetts, U.S.
Founders Alfred Marshall
Bernard Goldston
Norman Barren
Irving Blitt
Headquarters Framingham, Massachusetts
Number of locations
US: 1,130 (May 2, 2020); [1] Canada: 100; [1] Total: 1,230
ProductsClothing, footwear, bedding, bath, furniture, home decor, jewelry, beauty products, toys, housewares, pet supply, and giftware.
Parent Melville Corporation
(1976–1995)
TJX Companies
(1995–present)
Website www.marshalls.com/ (USA)
www.marshalls.ca (Canada)
Marshalls store in Erin Mills Town Centre, Mississauga, Ontario, Canada Marshell in Erin Mills Town Centre-Mississauga 2022.jpg
Marshalls store in Erin Mills Town Centre, Mississauga, Ontario, Canada

Marshalls, Inc. is an American chain of off-price department stores owned by TJX Companies. Marshalls has over 1,000 American stores, including larger stores named Marshalls Mega Store (stores operating with HomeGoods combined), covering 49 states and Puerto Rico, and 61 stores in Canada. Marshalls first expanded into Canada in March 2011.

Contents

Marshalls is one of the largest U.S. off-price family apparel and home fashion retailers, along with its sister company, TJ Maxx. Its slogans are Your Surprise Is Waiting and Never Boring, Always Surprising.

Marshalls Mega Store in Sawgrass Mills, Sunrise, Florida Marshalls, Sawgrass Mills, Sunrise, Florida February 20, 2022.jpg
Marshalls Mega Store in Sawgrass Mills, Sunrise, Florida

History

Independent company

Marshalls traces its history to 1956, when Alfred Marshall [2] gathered a group of entrepreneurs on the East Coast, including Bernard Goldston, Norman Barren, and Irving Blitt (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. Marshalls did not carry clothing until Irving Blitt (who later handled the sporting goods concession) called his friend Al Marshall letting him know he had the opportunity to purchase factory second Arrow shirts while on a trip to New York.[ citation needed ]

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 low prices. [3] 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, which was 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.

Melville Corporation

In 1976, Marshalls was acquired by Melville Corporation. There were 36 stores in New England and California at this time. Marshall also independently owned five stores in St. Thomas, St. Croix, and St. Maarten in the Caribbean. [2] [3] The brand surpassed $1 billion in sales in 1982. [4]

By April 1987, there were 261 stores across the country. However, profits began to slip in the mid-1980s when the company shifted to lower-priced goods, competing with other discount stores rather than department stores. Since Marshalls made up 28% of Melville's sales at this time, there was a lot of focus on turning the store around. [5] Marshalls was outperformed by rival TJ Maxx in the early 1990s. [6]

By 1993, Marshalls had expanded throughout 42 states including Hawaii, and had opened several downtown locations. Its first location in Puerto Rico opened in 1994. [7] The company's pretax operating earnings fell by 20% between 1993 and 1994. [8]

TJX

In 1995, Marshalls was purchased by TJX, the parent company of its main rival, TJ Maxx, for $550 million. There were 496 stores at the time. [2] [8]

Marshalls and T.J. Maxx operate as sister stores, and share a similar footprint throughout the country. While the two offer near-identical prices and have similar store layouts, Marshalls differentiates itself by its emphasis on family footwear and larger men's and juniors departments. [9]

Starting in 2005, Marshalls began introducing Shoe MegaShop departments in its stores. The company added MegaShops to 240 Marshalls stores in 2008, with another 200 planned for fiscal 2009. [10] Marshalls soon expanded the concept into standalone stores. [11]

In 2015, Marshalls opened its 1,000th store. [12] In 2019, the company began operating a website for online shopping. [13]

During the COVID-19 pandemic, Marshalls shut down all stores and suspended its online operations, closing all distribution and fulfillment centers and offices in March 2020. [14] TJX began reopening stores in May and completed the process by the end of June. [15]

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. [16] [17]

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:

Marshalls Canada

Marshalls opened its first locations in Canada in March 2011. [18] As of November 2016, Marshalls Canada had 50 stores with plans to operate approximately 100 stores across the country. [19] [20]

See also

Related Research Articles

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Alfred Marshall was an American businessman who founded Marshalls, a chain of department stores which specializes in overstocked, irregular and out-of-season name brand clothing sold at deeply discounted prices. He opened the original Marshalls in 1956 in Beverly, Massachusetts.

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References

  1. 1 2 "The TJX Companies, Inc. FORM 10-Q". investor.tjx.com.
  2. 1 2 3 "Obituaries: Alfred Marshall, founder of stores that bear his name, dies at 94". The New York Times. January 1, 2014.
  3. 1 2 Gates, Robert (January 2, 2014). "Founder of Marshalls, Who Built First Store in Beverly, Dies at 94". Danvers, MA Patch. Retrieved November 13, 2024.
  4. ↑ Barmash, Isadore (April 5, 1983). "THE 'OFF-PRICE' RETAILING BOOM". The New York Times. Retrieved November 14, 2024.
  5. ↑ Barmash, Isadore (June 10, 1987). "Marshalls Reported To Get New Head". The New York Times. Retrieved November 11, 2024.
  6. ↑ Barmash, Isadore (April 13, 1991). "An Abrupt Departure At Marshalls Stores". The New York Times. Retrieved November 11, 2024.
  7. ↑ Rosa, Taina (August 8, 2002). "PUERTO RICO HERALD: Marshalls To Open Third Local Megastore". puertorico-herald.net. Retrieved November 14, 2024.
  8. 1 2 Gilpin, Kenneth N. (October 17, 1995). "TJX Will Buy Marshalls Chain From Melville". The New York Times. ISSN   0362-4331 . Retrieved April 2, 2020.
  9. ↑ "Marshalls". TJX Companies. Archived from the original on September 19, 2008.
  10. ↑ Adams, Steve. "Marshalls adding 'Shoe MegaShops' at hundreds of stores". The Patriot Ledger. Retrieved November 12, 2024.
  11. ↑ Sattaur, Safia (March 8, 2011). "Marshall's Mega Shoe Store Steps Into Town". New Hyde Park, NY Patch. Retrieved November 12, 2024.
  12. ↑ "Marshalls to Celebrate Milestone of 1,000th Store Opening". PR Newswire. October 15, 2015. Retrieved November 13, 2024.
  13. ↑ "Off-price chain Marshalls makes its U.S. online debut". BNN Bloomberg. Associated Press. September 26, 2019. Archived from the original on September 26, 2019. Retrieved September 26, 2019.
  14. ↑ Testa, Jessica; Maheshwari, Sapna; Friedman, Vanessa (March 18, 2020). "Which Clothing and Beauty Stores Have Closed?". The New York Times. Retrieved November 13, 2024.
  15. ↑ Genovese, Daniella (May 21, 2020). "TJ Maxx, Marshalls, Home Goods reopen over 1,600 stores". FOXBusiness. Retrieved November 13, 2024.
  16. ↑ "Too Inc. wins round in suit over counterfeit clothing". bizjournals. August 21, 2002. Retrieved November 16, 2020.
  17. ↑ "UPDATE 1-TJX settles with Visa, Fifth Third on data breach". reuters. Retrieved November 16, 2020.[ dead link ]
  18. ↑ Shaw, Hollie (July 20, 2010). "TJX to open Marshalls in Canada". Financial Post . Retrieved May 27, 2012.
  19. ↑ "Marshalls Continues Aggressive Canadian Store Expansion". RETAIL INSIDER. Retrieved November 13, 2017.
  20. ↑ "Marshalls Canada". TJX Companies. Archived from the original on April 4, 2015.
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