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News

June 23, 2020

Coronavirus Changed Everything. Except T.J. Maxx

 

WSJ
By Suzanne Kapner and Sarah Nassauer

The coronavirus pandemic ushered in a surge in online shopping, and most retailers are scrambling to adapt. Not T.J. Maxx. TJX -3.23%

The discount chain isn't looking to quickly ramp up e-commerce beyond its minuscule level or add new features allowing American customers to buy products online and pick them up in stores. It stopped taking online orders during the lockdowns and even now is limiting the number of items for sale on its website.

Parent TJX Cos., which also owns Marshalls, HomeGoods and other discount chains, is as focused as ever on drawing shoppers to its more than 4,500 stores world-wide, betting consumers are desperate to roam the aisles after months of being stuck at home. As of June 17, about 85% of TJX stores had reopened.

“Strategically, nothing will change,” TJX Chief Executive Ernie Herrman told analysts in May. “We will not look to e-commerce as our major leveraging point to get us through Covid and out the other side.” Read more on The Wall Street Journal, Subscription required.

 
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