In Brief

Bye-Bye Bob's...

• BYE-BYE BOB’S: The TJX Cos. sold off its 34-door Bob’s Stores division to private equity firms Versa Capital Management and Crystal Capital. Terms of the deal were not disclosed, but the off-price giant said it would record a $15 million, or 3 cents a share, aftertax loss in the third quarter from the sale. TJX also revised its 2009 earnings guidance from continuing operations to $2.30 to $2.35 a diluted share, up from the $2.26 to $2.31 expected prior to the divestiture. Last year, Bob’s, which TJX acquired in 2003, pulled in sales of $310 million.

This story first appeared in the August 20, 2008 issue of WWD.  Subscribe Today.