T.J. Maxx is trimming its U.S. Footprint with three more store closures confirmed for this year.
The off-price retailer, owned by parent company TJX, will shut locations in Massachusetts and Maryland, though the company has not disclosed specific dates for the final sales. The announcement follows two high-profile closures already completed earlier this year, leaving some loyal shoppers hunting for new discount destinations.
The Boston flagship on Newbury Street, a three-story fixture for nearly a decade, rang up its last transaction on January 5. A Massachusetts WARN notice confirmed that closure displaced 117 workers. In Silver Spring, Maryland, the T.J. Maxx at Ellsworth Place mall ended its 10-year run with roughly 60 employees let go.
Elizabeth Lafontaine of Placer.ai, a foot-traffic data software company, told Inc. That the moves reflect routine portfolio management rather than distress. “Chains that continue to grow their footprint nationwide benefit from more strategic location selection,” she said. “Store fleet expansion involves creating the right store formats in the right locations for the right audience, which can require some pivots over time.”
The contraction comes amid broader retail headwinds. Competitors including Nordstrom, Saks and Macy’s have all shed locations recently as elevated costs and softer foot traffic pressure the sector.
Yet TJX executives frame the pruning as part of a larger expansion strategy. The company currently operates 5,285 stores across 10 countries spanning the U.S., Canada, Spain and the U.K., and it plans to accelerate net growth rather than retreat.
TJX CEO Ernie Herrman said on an Aug. 19 earnings call that storefronts across the company’s banners plan to increase store growth from 3% to 4% starting next year. “To take advantage of the growth opportunities we see out there,” he said.
CFO John Klinger, speaking on the same call, pointed to two specific formats driving that optimism. “We’re seeing opportunities in rural markets, where we see department stores are closing,” Klinger said. “We’ve experienced strong comp growth for so many quarters that we’re seeing the ability to put stores closer together than we thought before. And then, [we want to build] the small-format store that allows us to expand in a lot of densely populated urban areas, as well.”
The company has confirmed 11 new T.J. Maxx locations set to open in 2027, outpacing the handful of closures. TJX also owns Marshalls, HomeGoods, HomeSense and Sierra, giving displaced shoppers alternative banners in many markets.