Marshalls is actually a chain of American off-price department shops owned by TJX Companies. Marshalls has over 1,000 American stores, like larger stores named Marshalls Mega Store, covering Forty two states and Puerto Rico, and 61 stores in Canada. Marshalls first grown into Canada in March 2011. Marshalls is the U.S.’s second major off-price family clothing and home fashion retailer, behind its sister company, TJ Maxx. Its slogans are Your Surprise Is Waiting and Never boring, Always Surprising.
Marshalls traces its history to 1956, when Alfred Marshall (February 28, 1919 – December 28, 2013) gathered a band of innovative 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 “Brands For Less” concept. Contemplating the dual postwar phenomena of the boom in the economy and development in the suburbs, Marshall and associates came upon a way to meet it profitably. Together, they opened a self-service department shop in Beverly, Massachusetts, offering apparel and homewares at alluringly discount prices. Additional floor area was “sublet” to offer you customers shoes, hardware, and sporting goods from separate sellers, nevertheless the separate ownership of these departments was invisible towards the shopper. The original store also experienced a soda fountain/grill… another sublet of floor area, the “A & M Luncheonette” (for Alice & Mickey Masters, the proprietors).
The concept proved extremely successful; ten years later, is Marshalls open today had end up being the leading off-price retail chain within the nation. Due to 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 purchasing up manufacturers’ post-season, overrun, and close-out stock, Marshalls could offer fashionable, high-quality “designer” items at prices 20 to 60 % less than those of the department stores.
In 1976, Marshalls was acquired by Melville Corporation (owner of CVS) and experienced tremendous growth from 1977 to 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 their main rival, TJ Maxx, for $606 million. TJ Maxx had originated when TJX’ predecessor, Zayre, hired former Marshalls executive Ben Cammerata to produce a Marshalls clone.
Marshalls and T.J. Maxx operate as sister stores, and share a similar footprint through the country. As the two operate at near-identical price points and possess similar store layouts, Marshalls differentiates itself by featuring a larger increased exposure of family footwear and larger men’s and juniors departments. TJX paid US$100 million settlement in California pfazhk settle a worker class-action suit in 2002, which alleged that Marshalls abused exempt/nonexempt classifications to avoid the payment of overtime or compensation time for you to employees in particular roles performing non-exempt job duties, as required by the federal Fair Labor Standards Act.