CEO Today USA Awards

ABOUT ERNIE HERRMAN Mr. Herrman, age 59, has been Chief Executive Officer of TJX since January 2016, a director since October 2015, and President since January 2011. He served as Senior Executive Vice President, Group President from August 2008 to January 2011, with responsibilities for Marmaxx, HomeGoods, and TJX Canada; President of Marmaxx from 2005 to 2008; and Senior Executive Vice President, Chief Operating Officer of Marmaxx from 2004 to 2005. From 1989 to 2004, he held various merchandising positions with TJX. As Chief Executive Officer and President of TJX, and through the many other positions Mr. Herrman has held with the Company, Mr. Herrman has a deep understanding of TJX and broad experience in all aspects of off-price retail, including merchandising, management, leadership development, business strategy, international operations, marketing, real estate, buying, and distribution. FIRM PROFILE The TJX Companies, Inc., the leading off-price apparel and home fashions retailer in the U.S. and worldwide, was ranked 85 in the 2019 Fortune 500 company listings. At the end of 2019, the Company had nearly $42 billion in annual sales, more than 4,500 stores in nine countries, four e-commerce sites, and approximately 286,000 Associates. We operate T.J. Maxx and Marshalls (combined, Marmaxx), HomeGoods, Sierra, and Homesense, as well as tjmaxx.com , marshalls.com , and sierra.com , in the U.S.; Winners, HomeSense, and Marshalls (combined, TJX Canada) in Canada; and T.K. Maxx in the U.K., Ireland, Germany, Poland, Austria, the Netherlands, and Australia, as well as Homesense in the U.K. and Ireland, and tkmaxx.com in the U.K. (combined, TJX International). DELIVERING VALUE ACROSS THE GLOBE Our mission is to deliver great value to our customers every day. We do this by offering an ever-changing assortment of quality, fashionable, brand name, and designer merchandise at prices generally 20% to 60% below full-price retailers’ (including department, specialty, and major online retailers) regular prices on comparable merchandise, every day. With our value proposition, we reach a broad range of fashion- and value-conscious customers across many geographies, income levels, and demographic groups. In our 43-year history, we have delivered steady sales and earnings growth through many retail and economic environments across different geographies. Historically, our strong financial returns and cash generation allowed us to simultaneously invest in the growth of the business and return cash to shareholders. We believe that we operate one of the most flexible business models in the world. Our stores have no walls between departments, which enables us to expand and contract merchandise categories to respond to market trends and changing customer preferences. Our inventories turn rapidly, which allows us to buy close to need, with more visibility into current fashion and pricing trends. We source merchandise globally from a universe of more than 21,000 vendors and over 100 countries. Our world-class buying organization of over 1,100 Associates is constantly focused on seeking the right categories, fashions, and brands, while also testing new ideas. Historically, our flexible business model, decades of off-price experience, and global sourcing and buying power have been major advantages. We believe these characteristics of our business will continue to be our winning retail formula in the future. HOWWE DO IT As the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, TJX delivers great value on ever-changing selections of high quality, fashionable, brand name and designer merchandise at prices generally 20%-60%below full-price retailers’ (including department, specialty, and major online retailers) regular prices, on comparable merchandise, every day. Ernie Herrman CEO Thor Industries 71 - M A S S A C H U S E T T S - www.tjx.com