The TJX Companies, Inc. Completes Acquisition of Australian off-Price Retailer Trade Secret
26 10월 2015 - 6:42AM
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 completed its acquisition of 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 subject to customary post-closing adjustments. The
acquisition of Trade Secret provides TJX an opportunistic entry
into Australia, where TJX currently operates one of its 13 buying
offices.
Trade Secret offers branded apparel for women, men and children,
as well as footwear, accessories and home fashions at great values.
Trade Secret stores are located in Queensland, New South Wales,
Victoria, and the Capital Territory. Trade Secret opened its first
store in 1992 and since then, has grown to over AUD$160 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 very pleased to add Trade Secret
to the TJX family of companies, which fits directly into our clear
vision for continued global growth. Trade Secret’s business is
closely aligned with ours, and this acquisition provides us with
immediate scale and first-mover advantages in Australia. We believe
that, similar to our successful expansion in Canada, which started
with our acquisition of Winners in 1990, we can further develop
Trade Secret by leveraging our off-price leadership experience,
global buying scale, vendor universe, marketing, and other
capabilities. As one of the few major U.S. retailers to have
expanded profitably in international markets, including Canada and
Europe, we are very confident in our potential to grow successfully
in our third continent and eighth country. We are delighted to
welcome Trade Secret and its organization to TJX.”
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 August
1, 2015, the end of the Company’s second quarter, the Company
operated a total of 3,461 stores in seven countries, the United
States, Canada, the United Kingdom, Ireland, Germany, Poland, and
Austria, and three e-commerce sites. These include 1,130 T.J. Maxx,
990 Marshalls, 503 HomeGoods and 6 Sierra Trading Post stores, as
well as tjmaxx.com and sierratradingpost.com in the United States;
240 Winners, 97 HomeSense, and 39 Marshalls stores in Canada; and
423 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 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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