New York Ciy The CEO of the parent company of T.J. Maxx and Marshall's saw her compensation more than double last year as the company posted rising profits from shoppers hungry for bargains, according to the Associated Press.
TJX Cos. CEO Carol Meyrowitz's total compensation was valued $14.8 million in the fiscal year ending in January, well above the $6.9 million she received in the prior year. The bulk of the increase came as her performance-related bonus doubled and her stock options and restricted stock nearly tripled.
Her base salary totaled $1.5 million in fiscal 2010, about the same as in fiscal 2009. She received a performance-related bonus of $4.4 million, double the amount she received in 2009.
Her 2010 compensation also included stock options and restricted stock valued at $8.9 million on the day they were granted.
Meyrowitz has been CEO of the company since 2007. TJX has boosted its profits and sales while its full-priced rivals slump.
The company finished the fiscal 2010 year with same-store sales up 9%, while overall revenue rose 6.8% to $20.3 billion.
The company said in April it plans to expand to some 4,200 stores to tap into shoppers' new focus on value, which it expects to last. TJX did not give a time frame.