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The TJX Companies history
The TJX Companies company history timeline
In fact, Zayre Corp.'s off-priced retailing chains were so successful that by 1987 Zayre thought it prudent to organize them under one name and grant them autonomy from the decreasingly prosperous parent company.
In the first half of 1988, Zayre stores had operating losses of $69 million on sales of $1.4 billion.
In June 1989 it spun off its warehouse club division, Waban, Inc., which owned B.J.'s and Home Club.
In June 1989, Zayre Corp. acquired the outstanding minority interest in TJX and merged with the subsidiary, changing its name from Zayre Corp. to The TJX Companies, Inc. in the process.
In April 1990, TJX established a $185 million reserve against its Ames preferred stock and contingent lease liabilities on former Zayre stores as a result of Ames's announcement of continued poor performance.
Late in 1990, Ames began to show a modest profit, but it was uncertain as to when Ames would emerge from Chapter 11.
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.
In 1991 T.J. Maxx, by far the company's largest division, posted record results for the 15th consecutive year since it opened.
1992: The HomeGoods home fashions chain is launched.
TJX's expansion beyond North America came in 1994, when the fourth brand division, T.K. Maxx, was founded in the United Kingdom, and then expanded into Ireland.
Sales at Marshalls rose 10 percent in 1996.
Building on the off-price concept, similar to that of T.J. Maxx, Winners opened 13 stores in 1996, bringing its total to 65.
In late 1996 the company also sold its Chadwick's of Boston catalog division to Brylane L.P., owner of the Lane Bryant women's fashion chain.
HomeGoods, a chain of off-price home fashion stores, operated 21 stores at the end of 1996, offering giftware, bed and bath accessories, rugs, lamps, and seasonal merchandise.
Fifteen openings and 50 closings were planned for 1997; more were not expected, because many of the existing stores had performed so well.
By the end of 1998 there were 14 of these larger, 50,000-square-foot superstores, known as T.J. Maxx 'N More and Marshalls Mega-Stores, respectively, and these units were performing well.
The company also launched A.J. Wright in 1998, opening six stores in New England.
Nine more A.J. Wright outlets opened their doors in 1999, although that division remained in the red and the company still had much to learn about this new segment of the market.
During 2000 alone, the T.J. Maxx store count increased by 29, both Marshalls and HomeGoods by 30, A.J. Wright by 10, Winners by 17, and T.K. Maxx by 20.
Another 172 stores were added to the overall store count during 2001, although TJX did take one step backward that year, closing its three T.K. Maxx stores in The Netherlands because of their disappointing results.
Even in the poor economic environment of 2001 and with the post-9/11 effects on consumer spending, TJX still managed to increase revenues 12 percent, to $10.71 billion, surpassing the $10 billion mark for the first time.
The company's seventh brand division, HomeSense, formed in 2001, was a Canadian brand modeled after the existing US brand, HomeGoods.
The TJX Companies, Inc. is the largest off-price apparel and home fashions retailer in both the United States and the world, with nearly 1,850 stores worldwide by the end of fiscal 2002.
In 2002, TJX revenue reached almost $12 billion.
TJX's revenue in 2003 reached over $13 billion.
In mid-2003, TJX acquired an eighth brand division, Bob's Stores, concentrated in New England.
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.
The company reached 141st position in the 2004 Fortune 500 rankings, with almost $15 billion in revenue.
In April 2008, TJX launched the HomeSense brand in the UK, with six stores opening throughout May.
In December 2010, TJX announced that the A.J. Wright stores would be closed, cutting about 4,400 jobs, and that more than half of them would reopen under other company brands.
Cammarata retired from his position as Chairman of the Board in June 2015 and remains with TJX in an advisory role as Founder and Executive Advisor.
In July 2015, TJX acquired the Trade Secret and Home Secret off-price retail businesses from Australian company Gazal Corporation Limited.
TJX acquires Trade Secret (rebranded to T.K. Maxx stores in 2017), an off-price retailer operating 35 stores in Australia.
In November 2019, TJX purchased a 25% stake in Russian retailer Familia.
TJX acquires Sierra Trading Post (rebranded as Sierra in 2019), a United States off-price Internet retailer, sierra.com.
Starting in the spring 2020, TJX began reopening its operations while prioritizing the health and safety of its Associates and customers, including closing stores temporarily when necessary.
"The TJX Companies, Inc. ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/tjx-companies-inc-1
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The TJX Companies competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Nordstrom | 1901 | $15.0B | 74,000 | 991 |
| American Eagle Outfitters | 1977 | $5.3B | 37,000 | 1,823 |
| Sears Holdings | 2005 | $1.4B | 85,000 | 692 |
| Walgreens | 1901 | - | 210,500 | 18,969 |
| Kohl's | 1962 | $16.2B | 110,000 | 1,330 |
| Vudu | 2004 | - | 180 | - |
| The Home Depot | 1978 | $159.5B | 500,001 | 21,993 |
| The Children's Place | 1969 | $1.6B | 2,100 | 340 |
| Michaels Stores | 1973 | $5.3B | 45,000 | 2,102 |
| HomeGoods | 1992 | $22.0M | 100 | 1,009 |
The TJX Companies history FAQs
Zippia gives an in-depth look into the details of The TJX Companies, including salaries, political affiliations, employee data, and more, in order to inform job seekers about The TJX Companies. The employee data is based on information from people who have self-reported their past or current employments at The TJX Companies. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by The TJX Companies. The data presented on this page does not represent the view of The TJX Companies and its employees or that of Zippia.
The TJX Companies may also be known as or be related to The TJX Companies, The TJX Companies Inc, The TJX Companies, Inc., The TJX Cos., Inc., The Tjx Companies, Inc. and Zayre Corp.