![]() In November 2019, TJX purchased a 25% stake in Russian retailer Familia. In October, Ernie Herrman was named CEO of the company, replacing Carol Meyrowitz. In July 2015, TJX acquired the Trade Secret and Home Secret off-price retail businesses from Australian company Gazal Corporation Limited. Since its acquisition, the retail chain has opened over 70 brick-and-mortar stores in the United States. In December 2012, TJX acquired Sierra Trading Post, an off-price internet retailer of outdoor gear and apparel. Wright stores would be closed, cutting about 4,400 jobs, and that more than half of them would reopen under other company brands. In December 2010, TJX announced that the A.J. Later that year, in August, TJX sold Bob's Stores to Versa Capital Management and Crystal Capital. The brand is more upmarket than its Canadian namesake. In April 2008, TJX launched the HomeSense brand in the UK, with six stores opening throughout May. That year was also marked by the death of retired Zayre founder Stanley Feldberg. The company reached 141st position in the 2004 Fortune 500 rankings, with almost $15 billion in revenue. TJX began to test the side-by-side superstore model in the United States in 2004, combining some of each of the two Marmaxx brand stores with HomeGoods. TJX's revenue in 2003 reached over $13 billion. The superstores feature open passageways between them, with dual branding. In Canada, TJX began to configure some Winners and HomeSense stores side by side as superstores. In mid-2003, TJX acquired an eighth brand division, Bob's Stores, concentrated in New England. In 2002, TJX revenue reached almost $12 billion. The company's seventh brand division, HomeSense, formed in 2001, was a Canadian brand modeled after the existing US brand, HomeGoods. The brand went national in 2004 when it opened its first stores in California on the west coast. Maxx co-located at a building in Boston's Downtown Crossing (2020). TJX sold Hit or Miss, a discount mall based clothing store in 1995 as well through an employee leveraged buyout. was added to the Standard & Poor's S&P 500 Composite Index, which consists of 500 of the largest companies in the United States. Maxx and Marshalls later became consolidated as two brands under a single division, The Marmaxx Group. In 1995, TJX doubled in size when it acquired Marshalls, its fifth brand. Maxx, was founded in the United Kingdom, and then expanded into Ireland. TJX's expansion beyond North America came in 1994, when the fourth brand division, T.K. Two years later, it launched its third brand, HomeGoods, in the United States. In 1990, TJX expanded into an additional store brand division, and at the same time it first went international, as it entered the Canadian market by acquiring the five-store Winners chain. The newly named company began trading on the New York Stock Exchange. acquired the outstanding minority interest in TJX and merged with the subsidiary, changing its name from Zayre Corp. The company continued focus on its core business, selling unrelated operations including BJ's Wholesale Club and Home Club, leaving it with just one brand, T.J. In exchange, the company received $431.4 million in cash, a receivable note, and what was then valued at $140 million of Ames cumulative senior convertible preferred stock. It sold the entire chain of nearly 400 Zayre stores to Ames Department Stores Inc. Throughout all this, however, The TJX Companies subsidiary continued to yield a profit. Observers blamed technological inferiority, poor maintenance, inappropriate pricing, and inventory pileups, and Zayre appeared ripe for takeover. In the first half of 1988, Zayre stores had operating losses of $69 million on sales of $1.4 billion. In June 1987, Zayre established The TJX companies as a subsidiary. ![]() The roots of The TJX Companies date back to 1977 when the first TJ Maxx store opened in Auburn, Massachusetts as part of the discount department store chain Zayre. 97 in the 2021 Fortune 500 list of the largest United States corporations by total revenue. There are over 4,557 discount stores in the TJX portfolio located in nine countries. following a company reorganization in 1989.Īs of 2019, TJX operates TJ Maxx (in the United States) and TK Maxx (in Australia and Europe), its flagship store chains, along with Marshalls, HomeGoods, HomeSense, and Sierra in the United States, and HomeSense, Marshalls, and Winners in Canada. in 1987, and became the legal successor to Zayre Corp. It was formed as a subsidiary of Zayre Corp. (abbreviated TJX) is an American multinational off-price department store corporation, headquartered in Framingham, Massachusetts.
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