TJX Companies re-elects José B. Alvarez to board of directors
TJX Companies announced on Friday the re-election of José B. Alvarez to its board of directors. Alvarez previously served on TJX’s board of directors from 2007 through 2018.
“We could not be more pleased to welcome back José to our board of directors,” said executive chairman of the board, Carol Meyrowitz, in a news statement.
“His range of experience, deep knowledge of the global retail industry and understanding of our company can bring valued insight into the boardroom and add to the strength and diversity of our Board. We look forward to working with José again as we continue to focus on the near- and long-term strength, stability and success of the company.”
Alvarez is a member of the faculty of the Harvard Business School, which he joined in 2009. Prior to that, he held various senior executive roles in the food retail industry.
In 2008, he served as executive vice president, global business development for Royal Ahold N.V., now Royal Ahold Delhaize N.V., a global food retail group and served in a number of key management positions at Stop & Shop/Giant-Landover, a U.S. division of the group, from 2001 until 2008, including president and CEO, as well as executive vice president, supply chain and logistics.
Alvarez’s past experience has left him with a deep expertise in global retail chain management, including organizational leadership, store management, supply chain, logistics, distribution, merchandising, marketing, and strategy.
Last month, the off-price apparel and home fashions retailer forecasted a decline of third-quarter comparable sales of 10 to 20 percent.
In its last reported quarter, overall net sales slumped 32 percent to $6.67 billion, as its stores were closed for nearly one-thirds of the quarter, but the numbers came in above estimates of $6.57 billion.
The Framingham, Massachusetts-based company has reopened nearly all of its 4,557 locations in nine countries following the forced closure of stores in March, due to the Covid-19 pandemic.
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