Discount retailer, Zayre Corp, was responsible for the opening of the first two T.J.Maxx stores in the U.S. in 1977, which were both located in Massachusetts. T.J.Maxx was considered an off-price store, which was different from a traditional discount store because a retailer buys merchandise from manufacturers that have excess inventory and negotiates prices below wholesale. By the late 1980s, Zayre Corp was reconstructed and formed three brands – T.J.Maxx, Hit or Miss, and Chadwick’s of Boston. These stores were the initial brands that would eventually become The TJX Companies. Today, the retail giant encompasses T.J.Maxx, Marshalls, HomeGoods, HomeSense, Sierra, Winners, and T.K.Maxx.