TJX closing all stores for two weeks
Photo/Grant Welker
TJX's Framingham headquarters
Framingham retailer TJX Cos. is closing all 4,500 stores worldwide for two weeks in the latest retail fallout from the coronavirus pandemic.
TJX's store count includes roughly 3,300 T.J. Maxx, Marshalls, HomeGoods, Sierra and Homesense stores in the United States, and another more than 500 in Canada. The company has roughly 670 T.K. Maxx and Homesense stores in Europe, and 54 T.K. Maxx stores in Australia.
The company has roughly 20 retail locations across Central Massachusetts.
TJX is also temporarily closing its online businesses tjmaxx.com, marshalls.com and sierra.com, and its distribution and fulfillment centers and offices, with employees working remotely when they can, the company announced Thursday.
In trading on the New York Stock Exchange on Friday morning, TJX's stock was trading down slightly at 0.2% at $41.58 per share. Much like the rest of the stock market, TJX's stock price has been dropping rapidly for the last month, down 35% from Feb. 20, compared to the Dow Jones Industrial Average being down 31% and the S&P 500 being down 29%.
TJX had previously closed some locations in Germany, Poland, Austria, Ireland, and the Netherlands, Canada and the U.S. Among financial steps, TJX said it would draw down $1 billion from is revolving credit facilities, reducing capital expenditures and suspending temporarily its share repurchase program.
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