The TJX Companies, Inc. to Acquire Off-Price Australian Retailer Trade Secret
29 7월 2015 - 7:25AM
Business Wire
The TJX Companies, Inc. (NYSE: TJX), the leading off-price
retailer of apparel and home fashions in the U.S. and worldwide,
today announced that it has signed a definitive agreement to
purchase Trade Secret, an off-price retailer that operates 35
stores in Australia, from Gazal Corporation Limited (ASX: GZL) for
a purchase price of AUD$80 million. The potential acquisition of
Trade Secret provides TJX an opportunistic entry into Australia,
where TJX currently operates one of its 13 buying offices. TJX
expects the transaction, which has customary conditions to closing,
to be consummated by the end of calendar 2015.
Trade Secret offers branded apparel for women, men and children,
as well as footwear, accessories and home fashions at great values.
Virtually all of the Trade Secret stores are located in the eastern
part of Australia. Trade Secret opened its first store in 1992 and
since then, has grown to AUD$164.5 million in revenue for its
fiscal year ended June 2015.
Carol Meyrowitz, Chairman and Chief Executive Officer of The TJX
Companies, Inc., stated, “We are excited about the anticipated
addition of Trade Secret to the TJX family of companies and
expanding to another continent, which underscores the strength of
our international growth opportunities. TJX is one of the few major
U.S. retailers to have expanded successfully in international
markets, including Canada and Europe, which gives us confidence in
our potential growth in Australia. With consumer demographics
similar to Canada, we see Trade Secret as a strong platform to grow
in Australia similar to how we entered Canada with our acquisition
of Winners in 1990 and grew that business into a leading Canadian
retailer. We believe TJX can further develop Trade Secret by
leveraging our international leadership experience, buying scale,
vendor universe, marketing, and other capabilities. We view Trade
Secret as a good fit with our own corporate culture and are looking
forward to growing this business for the future.”
About The TJX Companies,
Inc.
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. As of May 2,
2015, the end of the Company’s first quarter, the Company operated
a total of 3,441 stores in seven countries, the United States,
Canada, the United Kingdom, Ireland, Germany, Poland, and Austria,
and three e-commerce sites. These include 1,126 T.J. Maxx, 987
Marshalls, 498 HomeGoods and 6 Sierra Trading Post stores, as well
as tjmaxx.com and sierratradingpost.com in the United States; 239
Winners, 97 HomeSense, and 39 Marshalls stores in Canada; and 416
T.K. Maxx and 33 HomeSense stores, as well as tkmaxx.com, in
Europe. TJX’s press releases and financial information are also
available at tjx.com.
Important Information at
Website
The Company routinely posts information that may be important to
investors in the Investor Information section at tjx.com. The
Company encourages investors to consult that section of its website
regularly.
Forward-looking
Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release are
forward-looking and involve a number of risks and uncertainties.
All statements that address activities, events or developments that
we intend, expect or believe may occur in the future are
forward-looking statements. The following are some of the factors
that could cause actual results to differ materially from the
forward-looking statements: the announced acquisition may not be
consummated and may not yield the expected benefits; execution of
buying strategy and inventory management; operational and business
expansion and management of large size and scale; customer trends
and preferences; marketing, advertising and promotional programs;
competition; personnel recruitment, training and retention; labor
costs and workforce challenges; economic conditions and consumer
spending; data security; information systems and new technology;
adverse or unseasonable weather; serious disruptions or
catastrophic events; seasonal influences; corporate and retail
banner reputation; merchandise quality and safety; expanding
international operations; merchandise importing; commodity pricing;
fluctuations in currency exchange rates; fluctuations in quarterly
operating results and market expectations; mergers, acquisitions,
or business investments and divestitures, closings or business
consolidations; compliance with laws, regulations and orders;
changes in laws and regulations; outcomes of litigation, legal
matters and proceedings; tax matters; real estate activities; cash
flow and other factors that may be described in our filings with
the Securities and Exchange Commission. We do not undertake to
publicly update or revise our forward-looking statements even if
experience or future changes make it clear that any projected
results expressed or implied in such statements will not be
realized.
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The TJX Companies, Inc.Debra McConnellGlobal Communications(508)
390-2323
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