TJX: Even More Efficient After Rightsizing

Want evidence concerning the strength of retailer The TJX Companies TJX? Consider this: On Friday TJX announced it would cut 4,400 jobs and convert 91 A.J. Wright stores in to T.J. Maxx, Marshalls, or HomeGoods stores, while closing the remaining 71 A.J. Wright stores. In other words, another casualty of what's likely to be a smaller retail cut of the U.S. GDP pie this decade. But what did TJX's shares do Friday? They closed up 11 cents, although it should be noted that the shares had declined about $2.50 in the weeks before the store closure announcement. Continue reading the article.