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Report: TJ Maxx, Saks Off Fifth eye online sales

Framingham, Mass. – Discount retailers TJ Maxx and Saks Off Fifth outlets are reportedly planning to enter the online sales arena this year. According to Reuters, TJ Maxx parent company TJX Cos. will be making its second attempt at launching a TJ Maxx e-commerce site after a failed attempt in 2005 that cost the company $15 million.

TJ Maxx has apparently been working on its e-commerce launch for a while. The chain hired e-commerce executive Elaine Boltz in 2011 and purchased pure-play e-commerce retailer Sierra Trading for $200 million in 2012.

Meanwhile, Saks Off Fifth is currently undergoing a three-year, $95 million systems renovation to support e-commerce operations and is spending an additional $6 million to commence online commerce this year instead of next year. Reuters quotes Saks CEO Steve Sadove as saying Saks Off Fifth will have a limited online assortment mostly comprised of top selling merchandise.

 

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