TJX Companies Plans JV With Axo

(RTTNews) - The TJX Companies (TJX) has entered into a definitive agreement for a joint venture with Grupo Axo, S.A.P.I. de C.V. TJX would own 49 percent and Axo would own 51 percent of the joint venture. The joint venture would comprise what is now Axo's off-price, physical store business in Mexico, which includes a total of over 200 stores for its Promoda, Reduced, and Urban Store banners. The financial terms of the deal would be announced after closing.

TJX does not expect the proposed transaction to have a material impact on previously communicated sales, profit or earnings per share guidance for fiscal 2025.

Axo is a multi-brand and multi-channel retailer of apparel, fashion accessories, footwear, beauty and personal care product categories, with a brand portfolio of recognized brands sold through more than 6,900 points of sale in department stores and more than 970 boutiques in Mexico, Chile, Peru and Uruguay.