The local A.J. Wright at the Rhode Island Place Shopping Center will be transformed into a T.J. Maxx, Marshalls or HomeGoods according to the article below from the Washington Business Journal. I am pulling for a HomeGoods!!!!
TJX closing 71 A.J. Wright stores, cutting 4,400 jobs
Washington Business Journal - by Barton Eckert
Off-price apparel retailer TJX Cos. says it plans to convert 91 A.J. Wright stores into T.J. Maxx, Marshalls or HomeGoods stores and close the remaining 71 stores.
Six of the chain`s stores are in the Washington area.
The store at Prince William Shopping Center on Smoketown Road in Woodbridge will be shut down. The others will be rebranded but TJX is not saying which brands will be where.
In total, the company estimates that approximately 4,400 positions will be eliminated, almost half of which are part-time positions.
All 162 A.J. Wright stores will close between late January and the middle of February. For the 91 stores that will be converting to other banners, the company estimates this conversion process will generally take approximately eight weeks, during which time the stores will remain closed.
The company (NYSE: TJX) believes the overall financial impact will be very positive with estimated non-recurring after-tax costs of approximately $150 million to $170 million to close the A.J. Wright business, $40 million to $50 million of which are cash costs.
I really enjoyed shopping at A.J. Wright. The Wright prices, the wright styles and fashions. The wright personalities and humor. A.J. Wright will be missed. Now watch how T.J. Max prices will go up.
ReplyDeleteIt looks like my HomeGoods dreams have been dashed as the T.J. Maxx sign is now up on RIA.
ReplyDelete