# 6: TJX Cos.

PAST GLOBE 100 RANKING 1997: 1 1996: 87 1995: 72 1994: 25 1993: 9 1992: 18 1991: 9 1990: 20 1989: 3

hen TJX talks about performance, perhaps the biggest challenge for the Framingham firm is to come up with new ways to say ''exceed expectations.'' In 1997, the operator of such off-price apparel retail chains as T.J. Maxx once again ''outpaced goals,'' placing sixth in the Globe 100 ranking.

TJX traces its momentum to its 1995 purchase of Marshalls. The following year was the first full year to benefit from the acquisition, and the 1996 figures resulted in TJX being honored last year as the Globe's Company of the Year.

One reason TJX fell from first to sixth this year was the sale of its catalog business, Chadwick's of Boston, which gave 1996 earnings a one-time boost.

By other measures, 1997 was robust for a nearly 1,200-store company. Sales were $7.4 billion, up 10.5 percent. Profits were $295 million, up from $214 million.

Appraising early results for 1998, TJX president and chief executive Bernard Cammarata sees more good news.

Sales have been ''much stronger than our expectations,'' he said, and first-quarter earnings projections are ''significantly above last year's strong results.''

As an off-price retailer, TJX sells the same brand-name merchandise as department stores but at lower prices. Aside from cost savings, the purchase of Marshalls gives TJX more buying power with vendors and allows it to underprice rival chains.

In the current robust economy, it's the department stores that are getting squeezed. Customers are either buying from luxury retailers or seeking values from discount stores and off-price chains such as TJX's. Barring a stock market blowout, there's nothing to suggest 1998 won't be another strong year for TJX, said Raymond James analyst Michael T. Glover.