June 7 (Reuters) - TJX Companies ( TJX ) said on Friday

it is partnering with apparel and accessories retailer Grupo Axo

to expand in Mexico.

The U.S. off-price retailer will hold a 49% stake in the

joint venture, while Grupo Axo will own 51%.

The JV will comprise Axo's off-price, physical store

business in Mexico, which includes more than 200 stores for its

Promoda, Reduced and Urban Store banners.

Financial terms of the venture would be announced after the

deal is closed, the companies said.

The JV will not affect TJX's sales or profit forecast for

its fiscal 2025, the company said.