The Boston Herald reports that discount store operator TJX Cos., which owns TJ Maxx, Marshalls and HomeGoods chains, has bought online off-price retailer Sierra Trading Post for $200 million. Like TJX brands, Sierra sells apparel and home furnishings. The retailer has had an online presence since 1999.
According to TJX CEO Carol Meyrowitz:
“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.”