Trade Secret Australia is Part of TJX

The TJX Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced in July 2015 that it has signed a definitive agreement to purchase Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited (ASX: GZL) for a purchase price of AUD$80 million. The potential acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where TJX currently operates one of its 13 buying offices. At that time, TJX expected the transaction, which has customary conditions to closing, to be consummated by the end of calendar 2015.  Well it is now the end of 2015 and Trade Secret is not part of TJX.

Trade Secret offers branded apparel for women, men and children, as well as footwear, accessories and home fashions at great values. Virtually all of the Trade Secret stores are located in the eastern part of Australia. Trade Secret opened its first store in 1992 and since then, has grown to AUD$164.5 million in revenue for its fiscal year ended June 2015.