Trends Report

Store Closures Sink Revenue: The TJX Companies Reveals The Challenges And Benefits Of Responding To COVID-19 In Its Q1 2020 Retail Earnings Call

June 4th, 2020

Summary

Retail quarterly earnings calls for Q1 2020 (January through March) run from April through June. In this series, we share the highlights of earnings calls from major brands to help digital business professionals understand the initial impact of COVID-19 on retail and brand businesses, particularly in the US. The TJX Companies saw a significant drop in sales in the latter half of the quarter following the sudden closure of stores, distribution centers, and its ecommerce site. As stores reopen, the company plans to significantly discount inventory locked behind closed doors to make shelf space for new merchandise.

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