If your primary reason for visiting TJ Maxx is the home goods department, then you can rejoice in the company’s latest announcement.
In an investor meeting, the parent company of TJ Maxx and Marshall’s stated they would be opening a new line of stores which would compliment their existing HomeGoods stores, reported CNBC.
TJX CEO Ernie Herman stated they would open four of the new concept stores but wouldn’t reveal more details on location or name of the new store.
“We’ve been testing many of those home categories for the last year, year and a half [and] that’s allowing us to plant the seeds and feel a high degree of confidence on what this store can do for business,” Herrman said.
In 2017, they will open approximately 80 new HomeGoods stores in the U.S., 53 opened last year.
At the end of its recently completed fiscal year, TJX operated 579 HomeGoods stores in the U.S., 1,186 T.J. Maxx and 1,035 Marshalls stores.
With TJX’s increased focus on the home goods category could mean more disruption for department stores and home furnishings chains as Wayfair and At Home claim more market share.
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