TJX will bring its home store concept, HomeSense, to the U.S. later this summer, company officials said during its first quarter investor conference call.
Ernie Herrman, TJX president and CEO, did not offer specific timing on when the first HomeSense stores would open but did say the company would have “a few locations” this fall with August the target for the first store’s opening. He noted that the company would have a HomeSense in Framingham, MA, where it currently operates a HomeGoods location.
“HomeSense will offer customers a different mix of home fashions than HomeGoods, but at the same great values,” he said. “We believe we are significantly underpenetrated in the total U.S. home market and feel there is enormous opportunity for us to gain share in this space.”
TJX, as of January 28, operated 106 HomeSense stores in Canada. The chain, first opened 2001, operates in both standalone and superstore formats, which pairs HomeSense with a Winners or Marshalls store.
Herrman did not provide specifics on HomeSense’s product assortment nor how the new store would differ from HomeGoods. He did say the shopping experience, product selection, merchandising and service from sales associates at HomeSense would be “dramatically different” from what is seen and offered at HomeGoods.
The TJX announcement on HomeSense comes just days after top executives at J.C. Penney discussed opportunities to expand further into categories related to home.
Marvin Ellison, J.C. Penney chairman and CEO, said the department store wants to become a dominant home retailer, adding that its customers want the retailer to be in the home space.
“They want us to sell appliances. It’s been one of our best businesses and it’s continuing to grow,” he said. “We are very excited about our home strategy regarding appliances, furniture and mattresses along with our home install initiatives.”