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Retail

TJX Companies Closes Stores & Online Businesses

 The parent of TJ Maxx, Marshalls, Home Goods and Sierra is closing stores and online business due to COVID19 crisis.

3/20/2020
picture of store exterior

 

FRAMINGHAM, Mass.-- The TJX Companies, Inc. (NYSE: TJX), announced it is closing all stores as part of its COVID-19 response.


Effective March 19, the company is closing all of its stores in the United StatesCanadaEurope, and Australia for two weeks. In certain regions, including GermanyPolandAustriaIreland and the Netherlands, and a number of U.S. and Canadian locations, the company had previously closed stores based on several factors, including government or health department requirements. 


The company is also closing its online businesses tjmaxx.commarshalls.com, and sierra.com. Further, the company is temporarily closing its distribution centers and offices, with associates working remotely when they can. We know our Associates are very concerned for their health and financial well-being, and we plan to pay our store, distribution center and office associates for two weeks during these closures.


The following statement was issued by TJX CEO and President Ernie Herrman:


"TJX is a great company with a great retail model. I want to reiterate that TJX entered 2020 in a very strong financial position. We consider the actions that we announced today as just prudent steps we are taking to further strengthen our financial liquidity and flexibility during this uncertain environment. Additionally, while we are evaluating our dividend in the near term, I want to emphasize that we remain committed to paying our dividends whenever the environment normalizes for the long term, as we have been for decades. With a 43-year history as a Company, our management team and amazing organization are focused on managing through these unprecedented times for the long-term success of our company."


About The TJX Companies, Inc.


The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of February 1, 2020, the end of the Company's fiscal year, the Company operated a total of 4,529 stores in nine countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia, and four e-commerce sites. These include 1,273 T.J. Maxx, 1,130 Marshalls, 809 HomeGoods, 46 Sierra, and 32 Homesense stores, as well as tjmaxx.com, marshalls.com, and sierra.com in the United States; 279 Winners, 137 HomeSense, and 97 Marshalls stores in Canada; 594 T.K. Maxx and 78 Homesense stores, as well as tkmaxx.com, in Europe; and 54 T.K. Maxx stores in Australia. TJX's press releases and financial information are available at TJX.com.

 

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