TJX competed against Pittsburgh-based retailer Dick's Sporting Goods Inc. for Bob's Stores in an auction held under the jurisdiction of the US Bankruptcy Court in Bangor, ME.
Edmond J. English, president and CEO of TJX says, "We believe Bob's Stores will be a significant long-term growth vehicle for TJX, with the potential over time of providing a multi-billion-dollar revenue stream and growing to be a chain of 400 stores in the US. While we see significant long-term potential with Bob's Stores, this acquisition is expected to have only a minimal impact on TJX's earnings per share over the next few years."
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