TJX Wants 1,000 More Stores
There’s been some talk of some retailers slowing their expansion plans, but TJX isn’t one of them. Instead, the company outlined goals of opening 1,000 new stores in coming years when reporting ts third quarter results.
TJX on Tuesday outlined a more aggressive expansion plan than it has previously offered. Meyrowitz said TJX believes market conditions will eventually support expanding the current total of more than 1,600 T.J. Maxx and Marshalls stores by 400.
TJX’s 287 HomeGoods stores could grow by another 300 locations over time, with new stores larger than existing locations. TJX’s HomeSense chain, with 71 stores in Canada, will expand to Great Britain next year, and in Germany, TJX foresees adding 250 T.K. Maxx stores.
“We are far from being a mature company,” Meyrowitz, who gave no timeline for the moves, told analysts.
