TJX Moves Forward With Aggressive Store Expansion Plans

As TJX Companies brings its HomeSense store concept to the U.S. with a total of four locations expected to open this year, the retailer also has larger expansion plans.

In a recent investor conference call to discuss second quarter results, Ernie Herrman, the company’s president and CEO, said TJX will open approximately 260 stores this year.

“The customer is clearly telling us that brick-and-mortar retail continues to be an essential part of the shopping experience and when it is executed right with the right values,” he said.

In the second quarter, the parent company of HomeGoods, Marshalls and T.J. Maxx reported solid comparable store gains across each retail brand, with HomeGoods seeing a 7% increase in same store sales.

Herrman also said that the company sees “enormous global store growth potential” for TJX with the opportunity to add another 1,700 stores in countries around the world where the company currently has a presence. Currently, TJX operates more than 3,800 stores in the United States, Canada, Europe and Australia.

“We continue to see store openings as an attractive investment and a very good use of capital,” he said. “We are convinced that these growth drivers will allow us to continue to capture additional market share in the U.S. and internationally.”