TJX posts net loss of 887 million dollars

The TJX Companies, Inc. has reported net sales for the first quarter of 4.4 billion dollars, while net loss reached 887 million dollars and loss per share was 74 cents. The company said in a statement that its first quarter results were negatively impacted by the temporary closure of its stores for approximately half of the quarter due to the Covid-19 pandemic and as a result, it reported a substantial pre-tax loss versus an original expectation of significant pre-tax income.