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US economy shrank at even faster pace than initially estimated in first quarter
The gross domestic product, which is the broadest measure of economic health, fell at an annual rate of 5 percent in the first three months of 2020.
TJ Maxx stores could be “mostly reopened” by the end of June based on current government guidance regarding the COVID-19 pandemic, according to the company.
“The company expects to continue reopening stores around the world in a phased approach as more states and countries reopen for retail,” TJX Companies, which also owns Marshalls and HomeGoods, said in a press release.
TJ Maxx is among the many retailers nationwide that had shut its doors in March due to the COVID-19 pandemic, an action that negatively impacted the business’ bottom line for the first quarter. The company says it temporarily furloughed the majority of its hourly employees.
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Since the start of May, more than 1,600 TJ Maxx-owned stores had reopened. The company said it had put into place health and social distancing practices to maintain both staff and customer safety, such as occupancy limits and associates being required to wear a face mask while working.
“We are all looking forward to the day when our business is fully open again and we can welcome our Associates and customers back worldwide,” said TJX Companies Chief Executive Officer and President Ernie Herrman.
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Here is how some casinos will look in Las Vegas after reopening
Expect fewer seats at tables and plenty of hand sanitizer.
Retailers across the country are reopening their doors with new safety and health mesaures in place amid the coronavirus pandemic. If or when a retailer can reopen depends on the specific local and state COVID-19 guidelines of where it is located.
Some retailers have also implemented their own health and safety protocols. Costco, for example, will not allow individuals to shop in its stores if they are not wearing a mask or facial covering.
While TJ Maxx looks to soon reopen its locations, other major retailers and businesses have struggled. JCPenney and Hertz both filed for bankruptcy in May.
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