Retail History | TJX — Five Thousand Square Feet in Hyannis, Then T.J. Maxx
· 1956-9
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Retail History | TJX — Five Thousand Square Feet in Hyannis, Then T.J. Maxx
kevin
People treat TJX as a Framingham listing that always ran T.J. Maxx, Marshalls, and HomeGoods from an off-price model.
The first discount book was a Cape Cod store named in Yiddish.
On 20 September 1956 Stanley Feldberg and Sumner Feldberg opened the first Zayre in Hyannis, Massachusetts.
The name was a phonetic spelling of a Yiddish word for "very," as in very good. The first floor covered about 5,000 square feet.
Their fathers, Max and Morris Feldberg, had come from Russia and built a hosiery wholesale house in 1919, then Bell Shops. The cousins took that book into suburban self-service.
Zayre grew into hundreds of discount stores and listed on the New York Stock Exchange in 1962. Headquarters settled in Framingham.
In 1976 Zayre hired Bernard Cammarata, then general merchandising manager at Marshalls, after it failed to buy Marshalls itself.
Cammarata was asked to build a rival off-price chain for family apparel and home goods. The first two T.J. Maxx stores opened in 1977 in Auburn and Worcester, Massachusetts.
In June 1987 Zayre formed The TJX Companies as a subsidiary around T.J. Maxx, Hit or Miss, and Chadwick's of Boston.
In 1988 it sold the Zayre store chain to Ames. In June 1989 Zayre Corp. merged with the subsidiary and took the TJX name.
Marshalls was bought in 1995. The Hyannis floor is not the present campus.
The mechanism that remains is a discount house that sold its own nameplate and kept the off-price chain that paid.
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