Locad tj maxx albuquerque3/31/2023 ![]() 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, Sierra in the United States, and HomeSense, Marshalls, 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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