Business
The closure comes with more than 100 layoffs.
In a notice to the state, T.J. Maxx said it will close its Newbury Street store in early 2026, cutting more than 100 jobs.
The closure will leave a large vacancy at the highly visible three-story building at the corner of Newbury Street and Massachusetts Avenue.
In a Sept. 19 Worker Adjustment and Retraining Act notice, T.J. Maxx announced that the store at 360 Newbury St will close by Jan. 3, and 117 employees will be laid off on Jan. 5.
The notice says the store’s closure is permanent.
The affected employees are not represented by a union. The store said it will allow them to transfer to another location.
“We are always assessing and reviewing our real estate strategies, and our decision to close this store reflects that thinking,” a TJX spokesperson said in a statement. “The Boston area has been the home for our headquarters for nearly 50 years and continues to be a very important market for us.”
There are two other T.J. Maxx locations in Boston, one in Downtown Crossing and another in South Bay Center.
The company, which also owns Marshalls, HomeGoods, Sierra, and HomeSense, is headquartered in Framingham.
At the company’s fiscal year-end in February, net sales had increased 4% over the year before to $56.4 billion, and the company opened its 5,000th store during the year.
“Customer transactions were up at every division as we saw strong demand at each of our U.S. and international businesses,” CEO Ernie Herrman of TJX Companies said in a statement.
According to Boston Magazine, the 45,000-square-foot store opened in 2016 and replaced Best purchase, which closed in 2012. The immediately-defunct track retailer Tower Records occupied the space until 2002, when a Virgin Megastore took over the space until 2006.
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