TJX Cos. offered former employees who haven’t started receiving pension benefits the option of a lump-sum distribution.
The Framingham, Mass.-based discount retailer said the offer, “primarily a non-cash settlement charge,” could decrease its fiscal year 2017 earnings by 3 cents to 5 cents a share. The impact “may be higher or lower depending on participation rates and other factors,” the company said in an Aug. 16 Form 8-K filing with the Securities and Exchange Commission.
Among the company’s stores are T.J. Maxx, Marshalls and HomeGoods.
The company also said that it began notifying terminated vested participants on Aug. ...
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