TJ Maxx Parent Company Considering Opening Thousands More Stores

Image courtesy of Jeepers Media

While other retailers are busy shutting down stores and trying to figure out how to grab a chunk of that online shopping business, one chain is considering beefing up its bricks-and-mortar presence. TJX Companies Inc., the parent company of TJ Maxx, Marshalls, HomeGoods, and other off-price stores, may open thousands more stores worldwide.

TJX Chief Executive Ernie Herrman said he’s mulling the idea of adding about 2,000 more stores, reports MarketWatch.

“Long term, we see the potential to grow to 5,600 stores with just our current chains in just our current markets alone,” Herrman said on the company’s earnings call.

TJX reported better-than-expected results this quarter, unlike its department store competitors.

Although e-commerce is only a “small part” of TJX’s business, Herman says it’s working out just fine. Bargain-hunting is a thrill for some shoppers, and those are the folks buoying TJX’s business.

“We offer a touch and feel environment, a treasure hunt environment different than any other brick-and-mortar or online retailer,” he said.

TJX Cos. wants to open thousands more stores [MarketWatch]