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The TJX Companies, Inc. traces its history back to 1919 when brothers Max and Morris Feldberg founded New England Trading Company in Boston, Massachusetts. This business prospered and in 1929 the Feldbergs opened their first retail store, devoted to selling ladies hosiery. Twenty years later, their one store had grown into a chain of women's apparel stores that stretched from New England to Washington D.C. In the mid-1950's, the next generation of Feldbergs - Stanley and Sumner - set out to build upon what their fathers had established - and the Zayre discount department store chain was born. Zayre Stores stood for offering convenience, selection and outstanding value for the whole family.
In the mid-70's a young and talented merchant, Ben Cammarata, was offered an opportunity to build a new off-price chain, and under his leadership, T.J. Maxx was born. With the success of T.J. Maxx, the Company grew into The TJX Companies, Inc., which today 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:
The Feldbergs open the first Zayre store in Hyannis, Massachusetts. Zayre, which means "very good" in Yiddish, is a neighborhood, convenience, self-service, general merchandise discount department store, emphasizing convenience, fashion and value.
Evolving into a chain of discount department stores, Zayre Corp. becomes a public company and begins trading on the New York Stock Exchange.
Zayre establishes a foundation to further its charitable objectives. Today, The TJX Foundation focuses its charitable giving to nonprofits that help children and families, education and victims of domestic violence.
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 Bernard '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, offering off-price, upscale apparel for the whole family. T.J. Maxx is an instant hit with customers, including middle- to upper-middle-income shoppers, providing the perfect solution to the heightening demand for quality fashions at reasonable prices with an ever-changing fresh assortment, earning the slogan "Never the Same Place Twice."
Hit or Miss experiments with a women's off-price sportswear mail order catalog called Chadwick's of Boston, which includes many best selling Hit or Miss apparel assortments. The experiment expands into its own division by 1985.
Zayre introduces a new warehouse retail concept to the Northeast called BJ's Wholesale Club. The self-service, cash-and-carry, membership warehouse sells general merchandise and food at wholesale prices.
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 stores chain is sold to Ames Department Stores, BJ's Wholesale Club, together with HomeClub (acquired by Zayre Corp. in 1985), is spun off to shareholders under the name Waban, Inc., 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, featuring off-price designer and brand names at great values.
TJX launches HomeGoods in the U.S., offering off-price home fashions, with a broad, always-fresh array of giftware, home basics, accent furniture, lamps, rugs, accessories, and seasonal merchandise for the home.
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 largest off-price retailer. The concept, similar to T.J. Maxx, offers great values on family apparel, including women's footwear, jewelry, lingerie and accessories, and home fashions.
TJX acquires Marshalls, the U.S.'s second largest off-price retailer. At this time, Marshalls has 496 stores and offers brand name family apparel, including accessories and lingerie, in addition to a broad selection of footwear and menswear, and home fashions. T.J. Maxx and Marshalls combined then 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 customers. A.J. Wright offers family apparel and home fashions, including footwear, accessories, giftware, toys, games, and special, opportunistic purchases.
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, including giftware, home basics, accent furniture, lamps and accessories for the home.
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 seven stores.
TJX sells Bob's Stores to private equity firms.
T.K. Maxx continues its expansion in Europe with the opening of four stores in Poland.
TJX announces consolidation of A.J. Wright division; 90 A.J. Wright stores converting into T.J. Maxx, Marshalls or HomeGoods stores; 72 A.J. Wright stores closing in early 2011.
TJX launches Marshalls, one of TJX's most successful brands, in Canada, with its first stores opened in the spring of 2011.
T.J. Maxx opens its 1,000th store.
HomeGoods celebrates its 20th anniversary.
TJX acquires Sierra Trading Post, an off-price internet retailer based in Cheyenne, Wyoming.