The TJX Companies, Inc. traces its history back to 1919 when brothers Max and Morris Feldberg founded the New England Trading Company in Boston, Massachusetts. Twenty years later, the one-time ladies hosiery business had grown into a chain of women's apparel stores that stretched from New England to Washington D.C. In the mid-1950s, the Feldberg family expanded the business and rebranded it as Zayre Corporation, a discount department store chain offering convenience, selection and outstanding value for the whole family.
In the mid-1970s, Bernard (Ben) Cammarata was recruited from Marshalls (then a division of Melville Corporation) to join Zayre to spearhead the launch of a new off-price chain. Under his leadership, T.J. Maxx was born, and, following a major restructuring of Zayre, The TJX Companies was founded. Over the course of the next nearly four decades, The TJX Companies grew from its infancy to a $30 billion-plus business. Today, TJX is comprised of 10 chains operating over 3,600 stores in 9 countries across 3 continents. The Company is the leading off-price retailer of apparel and home fashions in the United States and worldwide, offering great fashion, quality, and brand names at excellent values, every day.
Here is a look at some of our most important milestones:
Zayre is founded.
Evolving into a chain of discount department stores, Zayre Corp. becomes a public company and begins trading on the New York Stock Exchange.
Zayre acquires Hit or Miss, an off-price women's specialty apparel chain, offering fashions in sportswear, dresses, coats and accessories for misses and juniors.
Zayre hires Ben Cammarata, previously General Merchandise Manager of Marshalls, to develop and spearhead the launch of T.J. Maxx, a new off-price chain selling family apparel and home fashions.
The first two T.J. Maxx stores open in Auburn and Worcester, Massachusetts.
Zayre introduces a new self-service, cash-and-carry warehouse retail concept to the Northeast called BJ's Wholesale Club.
Zayre introduces Chadwick's of Boston, a women's off-price sportswear mail order catalog, and acquires HomeClub.
Zayre sells a minority interest in T.J. Maxx, Hit or Miss and Chadwick's of Boston to the public.
In a major restructuring, the Zayre chain is sold to Ames Department Stores. BJ's Wholesale Club and HomeClub are spun off to shareholders, and the Company repurchases the outstanding minority interest in T.J. Maxx, Hit or Miss and Chadwick's of Boston and changes its name to The TJX Companies, Inc.
TJX acquires Winners Apparel of Canada, a Toronto-based chain of five off-price family apparel stores. TJX grows this chain into Canada's largest off-price retailer of family apparel and home fashions.
TJX launches HomeGoods in the U.S., offering an ever-changing selection of home fashions from around the world.
TJX launches T.K. Maxx, introducing the off-price concept to the U.K. and then to Ireland. Over time, T.K. Maxx becomes Europe's only brick-and-mortar, off-price retailer of significant size.
TJX acquires Marshalls, the second largest off-price retailer in the U.S. At this time, Marshalls has 496 stores and offers brand name family apparel, in addition to a broad selection of footwear and menswear. T.J. Maxx and Marshalls combined operate more than 1,000 stores nationwide.
TJX sells Hit or Miss division to members of Hit or Miss management and outside investors.
TJX sells Chadwick's of Boston in order to more closely focus on the synergies between T.J. Maxx and Marshalls and successful growth of its various off-price store brands.
TJX launches A.J. Wright, an off-price concept similar to T.J. Maxx and Marshalls, whose target customers include moderate-income consumers.
Winners launches HomeSense, introducing the off-price home fashions concept to Canada. Similar to HomeGoods, HomeSense offers customers a wide selection of off-price home fashions.
TJX acquires Bob's Stores, a 31-store, value-oriented retailer of casual family apparel and footwear based in the Northeast.
T.K. Maxx opens stores in Germany, introducing the off-price concept to that country.
T.K. Maxx brings HomeSense "across the pond" to the U.K. with the opening of its first stores.
TJX sells Bob's Stores to private equity firms.
T.K. Maxx continues its expansion in Europe with the opening of stores in Poland. T.K. Maxx launched its e-commerce site, tkmaxx.com, in the U.K.
TJX announces consolidation of A.J. Wright division.
TJX launches Marshalls, one of TJX's most successful brands, in Canada.
T.J. Maxx opens its 1,000th store.
HomeGoods celebrates its 20th anniversary.
TJX acquires Sierra Trading Post, a U.S. off-price Internet retailer.
T.J. Maxx launches its e-commerce site, tjmaxx.com.
T.K. Maxx celebrates its 20th anniversary.
Sierra Trading Post opens two physical stores, bringing this online concept for outdoor apparel and other merchandise at great values to more consumers.
TJX acquires Trade Secret, an off-price retailer that operates 35 stores in Australia.
T.K. Maxx continues its expansion in Europe, opening stores in Austria and the Netherlands.
Marshalls opens its 1,000th store.
HomeGoods opens its 500th store.
TJX celebrates 25 years in Canada since its acquisition of Winners.