Marshalls is a chain of American off-price department stores belonging to TJX Companies. Marshalls has over 1,000 American stores, like larger stores named Marshalls Mega Store, covering 42 states and Puerto Rico, and 61 stores in Canada. Marshalls first grown into Canada in March 2011. Marshalls is the U.S.’s second largest 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 launch the “Famous Brands At A Lower Price” concept. Contemplating the dual postwar phenomena of the boom within the economy and growth in the suburbs, Marshall and associates came upon a way to meet it profitably. Together, they opened a self-service mall in Beverly, Massachusetts, offering apparel and homewares at alluringly discount prices. Additional floor space was “sublet” to provide customers shoes, hardware, and sporting goods from separate sellers, however the separate ownership of the departments was invisible towards the shopper. The first store also had a soda fountain/grill… another sublet of floor space, the “A & M Luncheonette” (for Alice & Mickey Masters, the proprietors).
The reasoning proved extremely successful; a decade later, Marshalls hours today had end up being the leading off-price retail chain in the nation. Due to the volatility from the American economy in the 1970s, with recession affecting the spending habits of the majority of shoppers, the off-price industry gathered speed. By purchasing up manufacturers’ post-season, overrun, and close-out stock, Marshalls managed to 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, along with 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 entire country. As the two operate at near-identical price points and have similar store layouts, Marshalls differentiates itself by with 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 staff member class-action suit in 2002, which alleged that Marshalls abused exempt/nonexempt classifications to prevent the payment of overtime or compensation time for you to employees in certain roles performing non-exempt job duties, as necessary for the government Fair Labor Standards Act.