TJX reports $214M loss
Photo/Grant Welker
TJX's Framingham headquarters
The TJX Cos., Inc., based in Framingham, reported a $214.2 loss in the retailers second quarter, according to an earnings report released Wednesday.
That’s a massive drop from the same time period last year, when the company reported $759 million in profit.
The company also reported a per share loss of 18 cents.
While the company posted a significant loss, it also reported $6.668 billion in net sales, down from $9.781 billion in sales during the same quarter a year prior.
“For the quarter, we were very pleased that both our top and bottom lines well exceeded our internal plans, despite our stores only being open for a little more than two thirds of the second quarter, and that our merchandise margin was excellent,” CEO and President Ernie Herrman said in a statement.
Herrman said the company saw particularly strong sales at its HomeGoods and Homesense chains.
Following international closures due to the coronavirus, TJX reopened more than 4,500 stores in nine countries, Herrman said. The company said in its statement its stores were temporarily closed for nearly one-third of the reporting period.
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