TJ Maxx closes Newbury Street store in Boston
CBS News••business
Key Points:
- TJ Maxx has permanently closed its Newbury Street store in Boston, which had been operating since 2016 in a Frank Gehry-designed building at 360 Newbury Street.
- The closure, announced in September, affects 117 employees, though TJX has offered them positions at nearby stores to mitigate job losses.
- TJX cited a strategic review of its real estate portfolio as the reason for the closure, emphasizing Boston's continued importance as a market and headquarters location.
- Despite this closure, the TJ Maxx store in Downtown Crossing remains open, and TJX reported increased sales and expanded store count by 57 in its latest quarterly earnings.
- CEO Ernie Herrmann highlighted the company's strong value proposition and shopping experience
