The 3 Extraordinary Capital Moves That Boosted Cash as TJX Companies’ Sales Collapsed
As expected, TJX Companies (NYSE: TJX) was hit hard by the COVID-19 pandemic. Its stores and e-commerce platforms were all closed for about half of the fiscal first quarter, and its earnings report showed that this situation produced sharp sales declines and operating losses.
The off-price retailer still ended the period with $4.3 billion of cash on its books and enough liquidity to survive further challenges through the rest of 2020. Let's look at the unusual capital moves that protected TJX's finances in recent weeks.
Image source: Getty Images.
Source Fool.com
