Word: maxx
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Dates: during 1980-1989
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Many smaller chains are going on expansion binges to hold their own with the big boys. Zayre, with 362 department stores, has bought or opened 750 specialty outlets, including such chains as HomeClub and T.J. Maxx. Woolworth has moved into higher-priced markets by buying such specialty chains as Foot Locker and Tennis Lady. Says Joseph Carroll, a Woolworth vice president: "We're no longer just a five-and-ten-cent store...
Predictably, robots are revving up in the TV listings. A syndicated show, The Transformers, began last week; a Robo Force cartoon, Maxx Steele, is scheduled to air in December; and a five-episode Challenge of the GoBots, animated by Hanna-Barbera, is set for next month...
...strategy of promoting national-brand fashion clothing is risky. It puts Sears in direct competition with such off-price retailers as Marshalls and TJ. Maxx, which sell name-brand merchandise at less than full markup. Warns one retailing analyst: "A lot of business is going to come out of Sears' hide...
More and more Americans are doing just that. They have discovered that they can usually buy Ralph Lauren shirts, Jaeger sweaters and Albert Nipon dresses for 30% to 60% below retail by shopping at off-price stores. Since 1979, sales at Syms, T.J. Maxx, Marshalls and similar outlets have more than doubled, to an estimated $7 billion. Industry analysts expect them to continue to grow at an average pace of 20% to 25% a year. Says Edward Brennan, head of Sears retail stores: "There is no question that off-price retailers are becoming a big factor in the industry...