By Josh Beckerman
TJX Cos., the owner of the T.J. Maxx, Marshalls and HomeGoods
chains, has agreed to buy Australian off-price retailer Trade
Secret from apparel company Gazal Corp. for 80 million Australian
dollars ($58.7 million.)
Trade Secret, with 35 stores, had revenue of 164.5 million
Australian dollars for the year ended in June.
TJX said its strategy for Trade Secret will be similar to its
approach with Winners, the Canadian brand it bought it 1990.
TJX said it currently operates one of its 13 buying offices in
Australia.
The deal is expected to close by the end of calendar 2015.
In May, TJX raised its annual guidance and reported that its
earnings for the May 2 quarter rose 4.5% on better-than-expected
sales and improved margins.
Write to Josh Beckerman at josh.beckerman@wsj.com
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