Marshalls is actually a chain of American off-price shops properties of TJX Companies. Marshalls has over one thousand United states stores, including larger stores named Marshalls Mega Store, covering 42 states and Puerto Rico, and Sixty one stores in Canada. Marshalls first expanded into Canada in March 2011. Marshalls is the U.S.’s second major off-price family apparel 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 buying Bernard Goldston’s shares), to collectively launch the “Famous Brands At A Lower Price” concept. Contemplating the dual postwar phenomena of the boom in the economy and growth in the suburbs, Marshall and associates came upon a method to meet it profitably. Together, they opened a self-service department store in Beverly, Massachusetts, offering apparel and homewares at alluringly discount prices. Additional floor space was “sublet” to offer you customers shoes, hardware, and sporting goods from separate sellers, however the separate ownership of these departments was invisible for the shopper. The first store also enjoyed a soda fountain/grill… another sublet of floor area, the “A & M Luncheonette” (for Alice & Mickey Masters, the proprietors).
The idea proved extremely successful; 10 years later, storeholidayhours.org had end up being the leading off-price retail chain within the nation. Due to the volatility of the American economy inside 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 managed to offer fashionable, high-quality “designer” items at prices 20 to 60 % less than the ones from the shops.
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 an identical footprint through the entire country. While the two operate at near-identical price points and possess similar store layouts, Marshalls differentiates itself by featuring a larger focus on 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 prevent the payment of overtime or compensation time to employees in certain roles performing non-exempt job duties, as necessary for the government Fair Labor Standards Act.