TJX Cos acquires Sierra Trading Post for USD200m

TJX Cos, the discount giant, has bought discount internet

retailer Sierra Trading Post for 200 million dollars. The acquisition will aid the business launch e-commerce sites for its TJ Maxx, Marshalls, and HomeGoods chains.

Privately held Sierra Trading Post was founded in 1999. It has about 700 employees and annual revenue of roughly 200 million dollars through sales of clothing, footwear, and homewares.

The takeover comes several years after TJX closed its US retail e-commerce business and just months after the merchant disclosed plans to return to the space with a substantial investment in online retailing.

"We continue to plan on launching e-commerce sites for TJX brands, and this acquisition adds immediate scale, capabilities, and infrastructure in e-commerce, which we can leverage in that regard," Carol Meyrowitz, TJX's chief executive, said in a statement.

The off-price seller reported last month its fiscal third-quarter earnings rose 14 percent as sales beat consensus estimates and margins improved.