TJ Maxx 2006 Annual Report Download - page 19
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During the fourth quarter of fiscal 2007, we identified 34 underperforming stores to close, as part of a plan to reposition
A.J. Wright for future profitable growth. Virtually all of these stores were closed at the end of fiscal 2007. The cost to
close these stores as well as the operating income or loss of these stores (in the current and prior periods) has been
reported in our financial statements as a discontinued operation. In fiscal 2008, we anticipate opening 5 stores in
existing markets as we focus on improving performance, both in our existing store base and in opening new stores. In
the long term, we believe that the U.S. could potentially support approximately 1,000 A.J. Wright stores.
BOB’S STORES
Bob’s Stores, acquired in late 2003, offers casual, family apparel and footwear, including workwear, activewear, and
licensed team apparel. Bob’s Stores’ customer demographics span the moderate to upper-middle income bracket. Bob’s
Stores operated 36 stores at the end of fiscal 2007, with an average size of 45,000 square feet. We do not plan to open any
new stores for this division in fiscal 2008 as we continue to evaluate this business and focus on improving performance.
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