TJX Cos. Inc.

The TJX Companies, Inc., headquartered in Framingham, said Thursday it had its profits drop from $700 million in the first quarter last year to a $887 million loss in the first quarter this year, as it was forced to close its stores worldwide in the wake of the coronavirus pandemic.

Framingham retailer TJX Cos. has been a standout in the industry, especially in the brick-and-mortar world, and until the coronavirus pandemic, the company was continuing to expand and see revenue rise.

The TJX Cos., headquartered in Framingham, announced it will furlough the majority of its hourly retail and distribution center employees after Saturday, CEO and president Ernie Herrman announced on Tuesday.

Framingham retailer TJX Cos. is closing all 4,500 stores worldwide for two weeks in the latest retail fallout from the coronavirus pandemic.

As recently as Feb. 19, stocks were riding high for Central Massachusetts-based public companies and beyond. As coronavirus has spread into a pandemic that's brought much of the economy to a standstill, those stocks have not been spared.

Coronavirus fears that have rocked the American stock market have not spared public companies based in Central Massachusetts. The area's 10 largest public companies lost an average of 14% in share price through Monday since the market peaked Feb. 19.

TJX Cos. is continuing to be a bright spot in a struggling retail industry. The Framingham retailer's fourth-quarter net sales rose 10% to surpass $12 billion.

Central Massachusetts businesses with broad geographic reaches are feeling the effects of the spread of coronavirus.

TJX Cos., an off-price apparel and home fashions retailer, has invested $225 million for a non-controlling 25% ownership stake in Russian retailer Familia, the Framingham company reported Tuesday.

TJX Cos., the Framingham-based off-price apparel and home fashions retailer, announced Tuesday net sales for the third quarter increased 6% to $10.5 billion.