A T.J. Maxx store which is owned by TJX Cos Inc in Pasadena, California U.S., May 15, 2017. REUTERS/Mario Anzuoni
(Reuters) – TJX Cos Inc’s (TJX.N) first-quarter sales more than halved on Thursday, as the off-price retailer’s stores and online operations remained shut for most of the quarter due to coronavirus-led lockdowns.
For the three months ended May 2, net sales fell to $4.41 billion from $9.28 billion a year earlier.
The company reported a net loss of $887.5 million, or 74 cents per share, compared with a profit $700.2 million, or 57 cents per share.
Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli
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source: reuters.com