TJX to close A.J. Wright banner, cut 4,400 jobs
Framingham, Mass. -- TJX Cos. said Friday it will close its A.J. Wright discount stores by mid-February, cutting 4,400 jobs. The move comes as the company’s T.J. Maxx and Marshalls chains have become better at attracting the lower-income customers that A.J. Wright targeted.
Ninety-one A.J. Wright stores will be converted into T.J. Maxx, Marshalls or HomeGoods stores, and 71 stores and two DC’s will close entirely. About 3,400 employees will keep their jobs and another 4,400 – half part-time and half full-time – will be cut.
TJX said the move allows the company to focus on its more profitable businesses.
"Over the past two years, we've learned how to better serve the A.J. Wright customer demographic with T.J. Maxx and Marshall's," said CEO Carol Meyrowitz.
All 162 A.J. Wright stores will close by mid-February. The 91 will reopen under a different name after eight weeks.
TJX operates 924 T.J. Maxx stores, 832 Marshalls and 36 HomeGoods in addition to the 162 A.J. Wright stores. It will cost $150 million to $170 million to close the stores, and $12 million to $15 million for the store conversions.