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SECURITY AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(D) of The
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 22, 2003
__________
THE TJX COMPANIES, INC.
(Exact name of Registrant as specified in charter)
DELAWARE 1-4908 44-2207613
(State or other jurisdiction (Common File (I.R.S. employer
of incorporation) Number) identification No.)
__________
770 Cochituate Road, Framingham, MA 01701
(Address of Principal Executive Offices) (Zip Code)
(508) 390-1000
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Registrant's Telephone Number (including area code)
N/A
(Former name or former address,
if changed since last report)
ITEM 5. OTHER EVENTS
On October 22, 2003, The TJX Companies, Inc. announced that it signed an
agreement to purchase substantially all of the assets, subject to certain
liabilities, of Bob's Stores, Inc. and its subsidiaries pursuant to Sections 363
and 365 of the U.S. Bankruptcy Code.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
Exhibit Number Title
- -------------- -----
99.1 Press Release, dated October 22, 2003 of The TJX Companies, Inc.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
THE TJX COMPANIES, INC.
/s/ Donald G. Campbell
--------------------------
Donald G. Campbell
Executive Vice President and
Chief Financial Officer
Dated: October 22, 2003
EXHIBIT INDEX
Exhibit
Number Description
- ------- -----------
99.1 Press Release, dated October 22, 2003 of The TJX Companies, Inc.
Exhibit 99.1
The TJX Companies, Inc. Announces Agreement to Purchase Bob's Stores
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Oct. 22, 2003--The TJX
Companies, Inc. (NYSE: TJX), the leading off-price retailer of apparel
and home fashions in the U.S. and worldwide, today announced that it
signed an agreement to purchase substantially all of the assets of
Bob's Stores, a Connecticut-based, value-oriented retail chain of 36
stores in the Northeast, offering branded apparel and footwear.
Bob's Stores and its subsidiaries have filed voluntary petitions
under Chapter 11 of the U.S. Bankruptcy Code. TJX expects the
transaction to close no later than the end of December 2003.
Under the agreement, TJX would purchase the assets of Bob's Stores
for $100 million, less various adjustments, and assume store leases
and operating contracts to be designated by TJX. TJX expects to assume
most, but not all, of Bob's Stores' leases. The purchase price will be
reduced for various adjustments, including reductions in inventory and
the customer, employee and post-bankruptcy petition trade payables
assumed by TJX. The transaction is subject to a number of conditions,
including bankruptcy court and regulatory approval.
Edmond J. English, President and Chief Executive Officer of The
TJX Companies, Inc., stated, "The anticipated addition of Bob's Stores
to our family of businesses represents our continued focus on growing
our Company successfully well into the future. While we expect that
our earnings per share will be only minimally impacted over the next
few years, we believe Bob's Stores provides us with a significant
long-term growth vehicle for a relatively small initial investment. As
a value-oriented chain, Bob's Stores shares many characteristics with
TJX's other divisions, such as a large store format, branded apparel
and footwear at great prices and an extremely loyal customer base. As
a result, it fits well with TJX's mission and gives us new
opportunities to add to our traditional customer base and broaden our
offerings in casual clothing, activewear, workwear, and footwear. In
addition, the experienced Bob's Stores' management team, strong buying
organization and brand-name vendor relationships will complement our
own.
"TJX has a solid track record of starting businesses and growing
them successfully. We view Bob's Stores as a start-up and expect that
the investment to acquire and develop Bob's Stores will be similar to
those that we have made previously to start and develop our HomeGoods,
T.K. Maxx and A.J. Wright businesses. We believe that, with our
financial strength, experience in growing businesses, combined
management expertise, and synergies, we will bring Bob's Stores into
profitability within the next couple of years and provide TJX with an
additional long-term growth vehicle."
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. The Company
operates 742 T.J. Maxx, 658 Marshalls, 168 HomeGoods and 89 A.J.
Wright stores in the United States. In Canada, the Company operates
158 Winners and 23 HomeSense stores, and in Europe, 137 T.K. Maxx
stores. TJX's press releases and financial information are also
available on the Internet at www.tjx.com.
A recorded message with more detailed information regarding the
proposed acquisition is available by calling (703) 736-7248 or via the
Internet at www.tjx.com. This recording will remain available via the
phone and Internet through Wednesday, November 19, 2003.
SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release are
forward-looking and involve a number of risks and uncertainties. All
statements that address activities, events or developments that we
intend, expect or believe may occur in the future are forward-looking
statements. The following are some of the factors that could cause
actual results to differ materially from the forward-looking
statements: general economic conditions including effects of wars,
other military actions and terrorist incidents; consumer confidence,
demand and preferences; weather patterns; competitive factors,
including continuing pressure from pricing and promotional activities
of competitors; the impact of excess retail capacity and the
availability of desirable store and distribution center locations on
suitable terms; recruiting quality sales associates and other
associates; the availability, selection and purchasing of attractive
merchandise on favorable terms and the effective management of
inventory levels; import risks, including potential disruptions in
supply and duties, tariffs and quotas on imported merchandise,
including economic, political or other problems in countries from
which merchandise is imported; currency and exchange rate factors in
our foreign and buying operations; ability to continue successful
expansion of our store base at the rate projected; risks in the
development of new businesses and application of our off-price
strategies in additional foreign countries; factors affecting expenses
including pressure on wages and benefits; our acquisition and
divestment activities; our ultimate liability with respect to leases
relating to discontinued operations including indemnification and
other factors affecting or mitigating our liability; changes in laws
and regulations; satisfaction of closing conditions and other factors
which affect our ability to acquire Bob's Stores and factors which
affect our ability to execute our business plan for Bob's Stores and
achieve profitability; and other factors that may be described in our
filings with the Securities and Exchange Commission. We do not
undertake to publicly update or revise our forward-looking statements
even if experience or future changes make it clear that any projected
results expressed or implied therein will not be realized.
CONTACT: The TJX Companies, Inc.
Sherry Lang, Vice President
Investor and Public Relations
(508) 390-2323