TJX’s quarterly sales more than halve amid pandemic

(Reuters) – TJX Cos Inc’s first-quarter sales more than halved on Thursday, as the off-price retailer’s stores and online operations remained shut for most of the quarter due to coronavirus-led lockdowns.

For the three months ended May 2, net sales fell to $4.41 billion from $9.28 billion a year earlier.

The company reported a net loss of $887.5 million, or 74 cents per share, compared with a profit $700.2 million, or 57 cents per share.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)