TJX to Sell Chadwick’s for $328 Million:...

TJX to Sell Chadwick’s for $328 Million: TJX Cos. said it will sell its Chadwick’s of Boston catalog business to Brylane LP, an apparel catalog retailer, for $328 million in cash, notes and receivables. Framingham, Mass.-based TJX, which operates the TJ Maxx and Marshalls discount chains, said it expects the sale to result in a gain of $125 million, or $1.39 a share. TJX had planned to sell a 61% stake in Chadwick’s to the public for $157 million, but postponed the IPO in July amid a weak market for new stocks. TJX decided to sell Chadwick’s, a profitable seller of discounted clothing, because it didn’t mesh with TJX’s chain of off-price stores. New York-based Brylane is a catalog retailer that sells mostly large sizes of men’s and women’s clothing through its Lane Bryant, Lerner and KingSize catalogs, among others. TJX gained 25 cents at $43 on the New York Stock Exchange.