T.J. Maxx Axes 3 U.S. Stores as TJX Still Adds 11 Net New Locations
Updated
Updated · Yahoo Finance · Oct 1
T.J. Maxx Axes 3 U.S. Stores as TJX Still Adds 11 Net New Locations
3 articles · Updated · Yahoo Finance · Oct 1
Summary
Three T.J. Maxx stores in Boston, Silver Spring and Cumberland are slated to close this year, extending the chain’s pullback in Massachusetts and Maryland.
High costs, weak foot traffic and routine portfolio reviews drove the decision, with Placer.ai saying large chains often pivot store formats and locations as they expand.
TJX had already closed two prominent T.J. Maxx sites earlier this year — including a Boston flagship and a Silver Spring mall store — affecting about 177 workers.
11 net new locations were still added in the first half, and TJX plans to lift store growth to 4% next year from 3% as it targets rural gaps and small-format urban sites.