T.J. Maxx, Marshalls and HomeGoods plan to open thousands of new stores
TJX Companies, owner of T.J. Maxx, Marshalls, and HomeGoods among other brands, plans to grow its number of stores by more than 50%. It will have 5,600 stores when it is finished expanding, up from the current total of nearly 3,700, CEO Ernie Herrman told investors Tuesday.
Although Herrman didn’t give a timeline for those store openings, the company added 47 stores in its fiscal first quarter of this year and plans to add about 150 more stores the rest of this year. That already represents about 5% growth.
TJX opened 219 store last year, and it is not planning on closing any stores this year.
And the company is considering even more store opening plans beyond the 5,600-store target.