Ben Cammarata, chairman and acting CEO of TJX Companies, last week laid out his vision for what needs to happen to turn business around for the off-price retailer. The changes include an exit from its e-commerce business and some repositioning of its smaller nameplates. The moves started a few weeks ago with the departure of Edmond English as president and CEO. The other changes are expected to improve the situation while the company reviews internal and external candidates to fill the CEO slot on a permanent basis. Carol Meyrowitz, a former senior EVP of TJX and president of The Marmaxx Group, has been named president of TJX, the parent to TJ Maxx, Marshall’s, and Bob’s Stores, among others.

In a conference call with analysts and investors last week, Cammarata told of the company's plan for Bob’s Stores that has the retailer repositioned as the “original casual clothing and footwear superstore.” The focus will be “real brands and low prices.” He said they had taken too much promotion out of the Bob’s business and they will go back a third of the way to re-energize the business. He said there will be a “particular focus on footwear” and they will re-introduce a limited number of coupons and circulars.

Cammarata also sees expanding the women’s casual business to target women that are already in the store shopping for their families. They also plan to expand the workwear section and utilize TJX’s relationship with vendors to help Bob’s improve margins. Cammarata expects the Bob’s losses to be halved by the end of 2006 and for the division to be on “a clear path to profitability by this same time next year.” Part of that will include a reduction in the size of the Bob’s organization. Also, they will now only plan to open one store in 2006, compared to the four stores opened in 2005.