One of TJ Maxx’s four stores in the Boston area will shut down its operations permanently by January 3, 2026, after nearly a decade at one of the city’s most iconic retail addresses. The company has announced that its 360 Newbury Street store will be shut down, affecting 117 employees who will be laid off effective January 5, 2026.
The store’s strategic location and history
The three-story TJ Maxx store occupies 45,000 square feet of prime Boston retail space in the Back Bay neighborhood directly across from the entrance to the Hynes Convention Center MBTA station. The location has been busy since the store opened initially in May 2016, replacing a Best Buy that had been operating there since 2012.
TJ Maxx on Newbury Street was particularly significant for being home to one of only 80 Runway sections in the country when it opened. This upscale department selling highly discounted, designer goods from high-end brands such as Christian Louboutin, Versace, and Yves Saint Laurent was the place to go for fashion-forward bargain hunters.
A building with retail legacy
The 360 Newbury Street building, designed by architect Frank Gehry, has been occupied by several legendary retailers throughout the years. Tower Records leased space as its flagship Boston store from 1987 to 2002, promoting it as the country’s largest record store with three levels spanning the building’s retail space. Virgin Megastore occupied the space after Tower Records in 2002, occupying it until 2006 before Best Buy took over the leasehold.
This shopping heritage reflects the building’s position as a hub for lifestyle and entertainment, with its distinctive architectural elements like angled metal struts and lead-coated copper panels contributing to making it a landmark along the Massachusetts Avenue corridor.
Company’s real estate strategy
TJX Companies, the parent firm of Framingham-based TJ Maxx, cited ongoing real estate examination as the primary cause for closure. As reported by a company spokesperson, “We are continually examining and testing our real estate strategies, and our decision to close this store is proof of that thinking”. Despite the shut-down, TJX reaffirmed that Boston remains a significant market because it has served as the company’s headquarters area for nearly half a century.
The action comes on the heels of TJX’s continuous domestic expansion, having opened its 5,000th store in fiscal year 2025 and registering a 4% increase in net sales to $56.4 billion. The overall growth trend of the company suggests the Newbury Street closure is localized, as opposed to a larger business problem.
Impact on employees and Boston retail landscape
The 117 employees involved are not unionized and have been promised assistance by TJX in finding jobs at nearby stores. The company has two other TJ Maxx stores within Boston city limits: one in the vicinity of Downtown Crossing and another at Dorchester’s South Bay Center, as well as other stores in the neighboring town of Brookline.
The closing is part of a broader trend of retail changes along Boston’s business corridors, similar to other high-profile closures like many Starbucks locations throughout Massachusetts. But TJ Maxx’s closure appears to be the result of location-specific lease and performance issues rather than general retail woes.
What’s next for the iconic space
While the Newbury Street TJ Maxx continues toward its final months of operation, the building’s next tenant has not been determined. With the building’s previous use as home to massive entertainment and retail chains, and with the building’s above-ground visibility along public transportation and Newbury Street’s commercial corridor, the 45,000 square feet of retail space will be highly sought after by retailers seeking a flagship Boston store.
The closing brings an end to an age of discount shopping on one of Boston’s coolest streets, where the marriage of designer overstock and upscale location made the store a one-of-a-kind destination in the city’s shopper universe.
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