TJX expects stronger HomeGoods growth
Staff Staff -- Home Textiles Today, October 26, 2011
Framingham, Mass. - TJX Cos. believes its HomeGoods chain has to the potential to be larger and more profitable than previously planned.
During the company's annual investor event today, the company said it believes HomeGoods can generate a profit margin above 10%; previously, TJX modeled a 9% to 10% profit for the division.
The company now sees the potential to operate up to 750 U.S. stores, up from a prior target of 600 stores. HomeGoods currently runs 374 stores.
Across all nameplates, TJX expects to open 130-145 stores during the next fiscal year, including 75-80 Maramaxx Group units, 35-40 HomeGoods stores, 15-20 Canadian units and 10-15 TJX Europe stores.