TJX took a particularly brutal beating from the pandemic last year, hit by the double whammy of having almost no e-commerce to fall back on when its stores were closed for long periods, and the precipitous drop in spending on fashion. Sales fell 23% to $32.1 billion—but the damage could have been worse. For one thing TJX’s HomeGoods business slipped only 4%. And when its other banners, T.J. Maxx and Marshalls, reopened, business rebounded quickly. There are signs of pent-up demand for fashion apparel that should give TJX a boost this year (barring any new outbreaks that close stores en masse again), and spending on the home continues apace.
Lists ranking TJX
World’s Most Admired Companies - 2021After a year in which humanity leaned more heavily...READ MOREview in list
Latest news for TJX
- RetailTJ Maxx’s Parent Company Is Still Paying Employees in Puerto Rico While Stores Are ClosedNovember 6, 2017 8:01 PM UTC
- RetailT.J. Maxx and Marshalls Parent Company Raises Earnings ForecastAugust 15, 2017 1:54 PM UTC
- FeaturesWalmart, Fed minutes, and Greece — 5 things to watch for this weekAugust 16, 2015 10:10 PM UTC