California Cheese Case Study

T.J. Maxx, Inc. is an off-price designer fashion apparel retailer. It offers designer apparel for all women, men, and children; as well as other soft line goods such as accessories, home decors, domestics, and footwear. TJ Maxx started back in 1919 by brothers Max and Morris Feldberg in Boston, Massachussets. The brothers originally named the company the New England Trading Company.         

Due to their ample amount of success, the Feldbergs opened their first retail store devoted to selling ladies hosiery. Within the next twenty years, their one store grew into a chain of women’s apparel stores that stretched from New England to Washington DC. During the 1950’s, the next generation of Feldbergs—cousins Stanley and Sumner, pursued to expand upon what their fathers had built. As a result, Zayre Corp. was born.

Zayre Corp. was quick in finding success immediately. With sales doubling every second or third year, new Zayre stores became established. By the 1970s, the company had diversified into specialty retailing. In 1976, Zayre hires Bernard Cammarata, previously General Merchandise Manager of Marshalls, to broaden and lead the launch of T.J. Maxx. A year later, the first two T.J. Maxx stores open in Auburn and Worcester, Massachusetts.

        By 1986, Zayre Corp. opened 35 more TJ Maxx stores across the country. In 1986 due to major restructuring, the Zayre store chain is sold to Ames Department Stores. Then, the company repurchases the outstanding minority interest in TJ Maxx and Hit or Miss stores and changes its name to TJX Companies, Inc. In 1988, due to major operating losses,  the company focuses on TJX solely and sells over 400 Zayre Stores to Ames Department stores in exchange for $431.4 million in cash. Continuing with their growing success, TJC launches HomeGoods which is an additional off-price store offering home fashions and merchandise. By 1995, TJX acquires Marshalls as well. Together combined, T.J. Maxx and Marshalls operates more than 1,000 stores nationwide.