TJX Cuts Capital Spending Plan By Up to $1 Billion
21 5월 2020 - 10:23PM
Dow Jones News
By Allison Prang
TJX Cos. said it lowered its capital expenditures plan for
fiscal 2021 by as much as $1 billion.
The company said it now expects capital expenditures to be
between $400 million and $600 million for the year, less than its
previous plan of $1.4 billion.
The company, whose first-quarter results were hit by the
coronavirus pandemic, in its last fiscal year had $1.22 billion in
capital expenditures, up from $1.13 billion the prior year.
The company said Thursday it lowered its store openings for the
2021 fiscal year to about 50. It also said it delayed some home
office, distribution center and information technology expenses and
halted most planned store remodels.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
May 21, 2020 09:08 ET (13:08 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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