The TJX Companies, Inc. Provides COVID-19 Update Clarification
20 March 2020 - 5:49AM
Business Wire
The TJX Companies, Inc. (NYSE: TJX), today issued the following
statement from TJX CEO and President Ernie Herrman following the
Company’s COVID-19 Update press release on Thursday, March 19:
“TJX is a great Company with a great retail model. I want to
reiterate that TJX entered 2020 in a very strong financial
position. We consider the actions that we announced today as just
prudent steps we are taking to further strengthen our financial
liquidity and flexibility during this uncertain environment.
Additionally, while we are evaluating our dividend in the near
term, I want to emphasize that we remain committed to paying our
dividends whenever the environment normalizes for the long term, as
we have been for decades. With a 43-year history as a Company, our
management team and amazing organization are focused on managing
through these unprecedented times for the long-term success of our
Company.”
About The TJX Companies,
Inc.
The TJX Companies, Inc. is the leading off-price retailer of
apparel and home fashions in the U.S. and worldwide. As of February
1, 2020, the end of the Company’s fiscal year, the Company operated
a total of 4,529 stores in nine countries, the United States,
Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the
Netherlands, and Australia, and four e-commerce sites. These
include 1,273 T.J. Maxx, 1,130 Marshalls, 809 HomeGoods, 46 Sierra,
and 32 Homesense stores, as well as tjmaxx.com, marshalls.com, and
sierra.com in the United States; 279 Winners, 137 HomeSense, and 97
Marshalls stores in Canada; 594 T.K. Maxx and 78 Homesense stores,
as well as tkmaxx.com, in Europe; and 54 T.K. Maxx stores in
Australia. TJX’s press releases and financial information are
available at TJX.com.
Important Information at
Website
The Company routinely posts information that may be important to
investors in the Investors section at TJX.com. The Company
encourages investors to consult that section of its website
regularly.
Forward-looking
Statement
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: Various statements made in this release are
forward-looking and involve a number of risks and uncertainties.
All statements that address activities, events or developments that
we intend, expect or believe may occur in the future are
forward-looking statements. The following are some of the factors
that could cause actual results to differ materially from the
forward-looking statements: the duration and impact of the COVID-19
pandemic; execution of buying strategy and inventory management;
operational and business expansion and management of large size and
scale; customer trends and preferences; various marketing efforts;
competition; personnel recruitment, training and retention; labor
costs and workforce challenges; data security and maintenance and
development of information technology systems; economic conditions
and consumer spending; corporate and retail banner reputation;
quality, safety and other issues with our merchandise; compliance
with laws, regulations and orders and changes in laws, regulations
and applicable accounting standards; serious disruptions or
catastrophic events and adverse or unseasonable weather; expanding
international operations; merchandise sourcing and transport;
commodity availability and pricing; fluctuations in currency
exchange rates; fluctuations in quarterly operating results and
market expectations; mergers, acquisitions, or business investments
and divestitures, closings or business consolidations; outcomes of
litigation, legal proceedings and other legal or regulatory
matters; tax matters; disproportionate impact of disruptions in the
second half of the fiscal year; real estate activities; inventory
or asset loss; cash flow and other factors that may be described in
our filings with the Securities and Exchange Commission. We do not
undertake to publicly update or revise our forward-looking
statements even if experience or future changes make it clear that
any projected results expressed or implied in such statements will
not be realized.
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The TJX Companies, Inc. Debra McConnell Global Communications
(508) 390-2323
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