Discount Store

TJX has been on a growth and revenue spree of late, and now the off-price retailer is apparently looking to expand down under.

Framingham, Mass. – The TJX Cos. Inc. apparently has a taste for vegemite.

TJX is purchasing Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corp. Ltd. for $58.45 million. The acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where it currently operates one of its 13 buying offices.

As shoppers get ready to slip back into their jeans for the upcoming fall and back-to-school seasons, it makes sense that Target has given its denim assortment a big refresh.

Target’s team of designers went to work to completely overhaul the retailer's denim assortment. The result? New styles and revamped fits, fabrics and finishes — comparable to what you’d find at a high-end department store — all for $30 or less. 

Overstock.com has come up with an exclusive back to school offer designed to appeal to teachers.

The retailer is offering free Club O loyalty program memberships to teachers of all grade levels. With every purchase on Overstock.com, Club O members receive free shipping and a minimum of 5% back in Club O Rewards Dollars to spend on the online shopping website.

Supervalu Inc. said it is considering spinning off its Sav-A-Lot stores into a separate business as the discount chain reported a big earnings increase for the first quarter.

Net earnings soared 42% to $61 million, from $43 million in the same quarter the prior fiscal year. Cost of sales rose at a slower pace than net sales, aiding profit growth. Net sales rose 3% to $5.41 billion, from $5.26 billion.

Minneapolis – Supervalu Inc. beat Wall Street expectations for profit in the first quarter of fiscal 2016 and also announced it is considering spinning off its Save-A-Lot grocery banner. Net earnings soared 42% to $61 million, from $43 million in the same quarter the prior fiscal year.

Cost of sales rose at a slower pace than net sales, aiding profit growth. Net sales rose 3% to $5.41 billion, from $5.26 billion.

City of Commerce, Calif. - 99 Cents Only Stores LLC has named Jack L. Sinclair as chief merchandising officer. Sinclair will be responsible for merchandising and marketing functions.

Growth prospects for the food and consumables business at 99 Cents Only just improved considerably following the appointment of a former Walmart EVP of merchandising to a key role.