TJX Cos Inc said it bought Sierra
Trading Post, an off-price Internet retailer, for about $200 million, the
latest brick-and-mortar store to try to attract customers who shop online via
smartphones and tablets. TJX, which sells designer clothing and home goods at lower
prices than department stores, said it expects the acquisition of Cheyenne,
Wyoming based Sierra Trading to add slightly to earnings beginning in fiscal
2014, "but that this impact will not be material to TJX's consolidated
financial statements. "Retailers across the board are boosting their online and
digital presence as they cater to an increasing number of shoppers who use
tablets and smartphones to buy stuff. A glitch-free and dependable internet
presence is now considered as important for sales as a good in-store
experience.
