The Tjx Companies, Inc. Announces Senior Management Promotions

Business Wire, Nov 4, 1994

FRAMINGHAM, Mass.--(BUSINESS WIRE)--The TJX Companies, Inc. (NYSE:TJX) announced that Richard Lesser, formerly President of T.J. Maxx, has been named Chief Operating Officer of The TJX Companies, Inc. and will continue as an Executive Vice President of TJX. In his new position Mr. Lesser will have continuing responsibility for the T.J. Maxx and Winners businesses and will assume responsibility for Corporate Human Services.

The Company also announced the promotion of Peter Maich to the position of President of its T.J. Maxx division. Mr. Maich had previously held the position of Executive Vice President, Merchandising, Marketing, Logistics and Distribution Services at T.J. Maxx.

Mr. Maich will continue to report to Mr. Lesser, as will David Margolis, President of Winners Apparel Ltd. (Canada). In addition, Mark Jacobson, Vice President, Corporate Human Services, will now report to Mr. Lesser.

Commenting on these management changes, Bernard Cammarata, President and Chief Executive Officer of The TJX Companies, Inc. stated, "I am delighted to announce the promotions of Dick Lesser and Peter Maich, two of our most valued senior executives. These changes offer each of these talented individuals the opportunity to broaden his responsibilities, and also better positions the Company for its future growth. We are excited about these important moves, as we believe they will be integral to our ongoing success."

Mr. Lesser joined T.J. Maxx in 1981 as Senior Vice President, General Merchandise Manager. In 1984, he was promoted to Executive Vice President, Merchandise and Distribution Services, and in 1986, was named President of T.J. Maxx. He assumed added responsibility for Winners Apparel Ltd. in 1991.

Mr. Maich joined T.J. Maxx in 1985 as Vice President, Senior Merchandise Manager and was promoted to Senior Vice President, General Merchandise Manager the following year. In 1991, he was named Executive Vice President, Merchandise, Marketing and Distribution.

The TJX Companies, Inc. is a major off-price specialty apparel retailer, with 539 T.J. Maxx stores, 508 Hit or Miss stores, the nation's leading women's fashion off-price catalog Chadwick's of Boston, and 34 Winners Apparel Ltd. off-price family apparel stores in Canada. TJX is also developing HomeGoods which operates 12 off-price home fashions stores as well as T.K. Maxx, an off-price apparel concept in the United Kingdom.

CONTACT: TJX Companies Inc., Framingham

              Steven Wishner, 508/390-2626
                    or
              Sherry Lang, 508/390-2323