TJ Maxx and Marshalls are reducing their retail presence in the new year.
Both discounted retailers — which are owned by TJX Companies — will close several stores in New York and Chicago beginning in January 2024, due to an evaluation of their retail presence. TJX stated that the “economic” choice came from “assessing and reviewing our real estate strategies, and our decision to close this store reflects that thinking,” according to Newsbreak.
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News of TJ Maxx and Marshall’s closings are the latest to hit the retail world in 2023. Earlier this year, both brands closed additional stores; TJ Maxx shuttered its St. Paul’s Midway location in St. Paul, Minn. in October. Meanwhile, Marshalls closed its Center City East location in Philadelphia, Penn., as well as its City Center store in Minneapolis, Minn.
In August, the brand had previously announced sales growth in a Q2 earnings call, according to Newsbreak.
“I am particularly pleased with the performance of our largest division, Marmaxx, which delivered high single-digit increases in both comp sales and customer traffic,” said CEO Ernie Herrman. “Our overall apparel and accessories sales were very strong. And our overall home sales significantly improved and returned to positive comp sales growth.”
TJ Maxx and Marshalls’ closings follow various retailers and brands that have shuttered numerous stores in 2023, including Atmos, Foot Locket, Jo-Ann Fabrics and Nordstrom, among others.
Below, discover TJ Maxx and Marshalls’ store closures in 2023 and 2024:
Closing 2024: 1008 S. Canal Street, Chicago, IL 60607
1410 University Ave W., St Paul, MN 55104
Closing 2024: 503 Fulton Street, Brooklyn, NY 11201
40 S. 7th St, Minneapolis, MN 55402
Closing 2024: 610 Exterior Street, Bronx, NY 10451
1044 Market St., Philadelphia, PA 19107
This story will be updated as it progresses.
About the Author:
Aaron Royce is the Digital Editor for Footwear News, where he writes stories on trending news, celebrity style, collaborations and in-depth profile interviews. Prior to joining Footwear News, Aaron wrote and interned for publications including PAPER, Grazia and the Daily Front Row. He currently holds a B.S. in mass communications from Virginia Commonwealth University.
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