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2024-05-07 07:55:57

TJX Companies

American off-price department store corporation
American off-price department store corporation
The TJX Companies, Inc., based in Framingham, Massachusetts, operates TJ Maxx, TK Maxx, Marshalls, HomeGoods, and other stores in multiple countries. It was established in 1987 as a subsidiary of Zayre Corp.
1976
Launch of T.J. Maxx
Bernard (Ben) Cammarata, General Merchandising Manager of Marshalls, was recruited by Zayre Corp. to develop and spearhead the launch of a new off-price chain selling family apparel and home fashions. Under Mr. Cammarata’s leadership, T.J. Maxx was born in 1977.
1977-03
Opening of the first T.J. Maxx store
Bernard Cammarata opened the first T.J. Maxx store in Auburn, Massachusetts in March 1977, inspired by the recession and the potential for offering off-priced upscale apparel for the whole family.
1982
Winners
Winners was founded in 1982.
1983
Chadwick's of Boston begins selling Hit or Miss items through mail-order catalogs
In 1983, Chadwick's of Boston started selling selected Hit or Miss items through mail-order catalogs, allowing customers to handle products before ordering and introducing the convenience of home shopping.
1986
Establishment of The TJX Companies, Inc.
In June 1987, The TJX Companies, Inc. was established as a subsidiary of Zayre, ten years after the opening of the first T.J. Maxx store. It sold 9.35 million shares of common stock in its initial public offering, with Zayre owning 83 percent of the subsidiary.
1987-06
Zayre Corp. acquires remaining minority interest in TJX and changes name to TJX Companies, Inc.
In June 1987, Zayre Corp. acquires the remaining minority interest in TJX, merges with the subsidiary, and rebrands as TJX Companies, Inc. This move marks a significant shift in focus towards the core brand.
1988-07-04
TJX Cos. Steamrolls to Front of Off-Price Pack
On July 4, 1988, TJX surged ahead to lead the off-price retail segment.
1990-04
Ames Bankruptcy and TJX Reserve
In April 1990, TJX established a $185 million reserve against its Ames preferred stock and contingent lease liabilities due to Ames's poor performance. The same month, Ames filed for bankruptcy protection under Chapter 11.
1991
Marshalls 25th Anniversary in the U.S.
Marshalls celebrates its 25th anniversary in the United States as part of the TJX Group.
1992
Launch of HomeGoods brand
In 1992, T.J. Maxx launched the HomeGoods brand, offering a diverse range of home accessories, gift items, rugs, lamps, and seasonal goods from various parts of the world.
1994-01-31
The King of Off-Price
In January 31, 1994, Forbes referred to TJX as the dominant player in the off-price retail sector.
1995-02-20
TJX Diversifies, Adapts, and Survives
On February 20, 1995, TJX showcased its ability to diversify, adapt, and thrive in the retail industry.
1995-10-30
Can TJX Turn Off-Price On?
On October 30, 1995, Business Week questioned TJX's ability to capitalize on the off-price retail model.
1996-01-01
T.J. Maxx/Marshalls Upsets Marketplace
In January 1996, T.J. Maxx and Marshalls caused a stir in the marketplace with their operations.
1996-06-17
TJX Adjusting Well to Its Megachain Size
In June 17, 1996, TJX was reported to be effectively adapting to its large-scale operations.
1996-10-08
TJX Tailor-Makes a Marshalls Plan to Revitalize Retailer
In October 1996, TJX custom-designed a plan for Marshalls to rejuvenate the retailer's performance.
1997-03-03
TJX Needs to Be Better Than Better
In March 3, 1997, TJX was urged to strive for excellence beyond the norm.
1997-05-20
TJX Named Company of the Year: Here, Only Profits Have Big Markups
On May 20, 1997, TJX was recognized as the Company of the Year for its impressive profit margins.
1998-06
TJX to Try New Formats, Expand Home Business
In June 1998, TJX announced plans to experiment with new store formats and expand its home business.
1999-06-21
TJX Won't Rest on Laurels
In June 1999, TJX expressed its determination to continue growing and not become complacent.
2000
Ted English becomes President and CEO of TJX
In 2000, Ted English takes on the role of President and CEO at TJX, leading the company into the new millennium.
2001-06-18
TJX Ups Expansion to Increase Earnings
On June 18, 2001, TJX intensified its expansion efforts to boost its earnings.
2002-06-10
TJX Maps Out Expansion Plans
On June 10, 2002, TJX outlined its strategies for further expansion, particularly in the home textiles sector.
2003
Acquisition of Bob's Stores
In 2003, TJX acquires Bob's Stores, a casual apparel and footwear retailer focusing on the northeastern United States. The company also consolidates Winners and HomeSense stores in Canada, generating sales of over $13 billion.
2004
Introduction of side-by-side superstore model
In 2004, TJX began testing the side-by-side superstore model in the United States, combining Marmaxx brand stores with HomeGoods.
2007-01-17
Computer systems intrusion at TJX
On January 17, 2007, TJX disclosed an unauthorized computer systems intrusion where customer data, including credit card information, was stolen. The company worked with various firms to enhance its computer security.
2008-04
Launch of HomeSense brand in the UK
In April 2008, TJX introduced the HomeSense brand in the UK, with a more upscale positioning compared to its Canadian counterpart.
2008-08
Sale of Bob's Stores
In August 2008, TJX sold Bob's Stores to Versa Capital Management and Crystal Capital, reshaping its brand portfolio.
2009-08
Heartland Payment Systems Data Breach
In August 2009, Albert Gonzalez, the alleged ringleader of the TJX Companies data breach, was indicted for attacking Heartland Payment Systems. This breach led to the compromise of 130 million records, highlighting the severity of cyber security threats in the retail industry.
2010-12
Closure of A.J. Wright stores
In December 2010, TJX announced the closure of A.J. Wright stores, resulting in the loss of about 4,400 jobs. However, more than half of these jobs were expected to reopen under other company brands.
2011
Expansion of Marshalls into Canada
TJX expands into Canada with one of its most successful brands, Marshalls.
2012-12
Acquisition of Sierra Trading Post
In December 2012, TJX acquired Sierra Trading Post, an off-price internet retailer of outdoor gear and apparel. Since the acquisition, the retail chain has expanded with over 70 brick-and-mortar stores in the United States and rebranded to Sierra in 2019.
2013
Launch of tjmaxx.com
T. J. Maxx launches its own e-commerce site, tjmaxx.com.
2014
20th Anniversary Celebration in Europe and Sierra Store Openings
The company celebrates its 20th anniversary in Europe. Sierra opens its first two stores following the acquisition, bringing outdoor apparel to a new audience.
2015-06
Retirement of Bernard Cammarata
After nearly 40 years of service to the Company, Mr. 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.
2015-07
Acquisition of Trade Secret and Home Secret
In July 2015, TJX acquired the Trade Secret and Home Secret off-price retail businesses from Australian company Gazal Corporation Limited. The deal was finalized in December, and Ernie Herrman became the CEO in January 2016.
2016
T. K. Maxx opens 500th store in Europe
In 2016, T. K. Maxx reaches a milestone by opening its 500th store in Europe.
2017
TJX acquires Trade Secret and rebrands as T. K. Maxx Stores
TJX acquires Trade Secret from Gazal Corporation Limited and renames it as T. K. Maxx Stores in 2017. The acquisition includes 35 stores in Australia.
2018
HomeSense 10th anniversary in Europe
HomeSense celebrates its 10th anniversary in Europe in 2018, showcasing its continued presence and success in the European market.
2019-11
Purchase of stake in Russian retailer Familia
In November 2019, TJX purchased a 25% stake in the Russian retailer Familia, expanding its international presence.
2020-08-19
Impact of COVID-19 on TJX Companies
On August 19, 2020, TJX Companies faced challenges due to the COVID-19 pandemic, with a significant drop in revenues and reporting a second-quarter loss of $214 million.
2021
HomeSense 220th Anniversary in Canada
HomeSense is celebrating its 220th anniversary in Canada.
2022
T. J. Maxx 45th Anniversary
T. J. Maxx celebrates its 45th anniversary.
2023-07-05
Financial Data Study for TJX
In 2023, financial data for TJX is studied, focusing on the company's performance and economic indicators.
End of the Timeline
TJX Companies

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TJX Companies

American off-price department store corporation
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