Headlines

TJX Reveals Plans to Double its Business

New stores in North America and Europe will drive the growth

Published

11 years ago

October 28, 2013

steve kaufman

The TJX Cos. Inc. (Framingham, Mass.) has told investors it expects to nearly double its business in 2014.

Among the plans revealed by the nation’s largest off-price retail operator are: expanding the store counts of its T.J. Maxx and Marshalls chains; growing its business in the U.K. while entering new markets, such as France, Spain and Italy; adding about 100 stores in Canada; and roughly doubling its HomeGoods chain.

The business generated $25.9 billion in revenues last year. The company told investors it expects revenues of more than $46 billion next year.

One market it won’t enter, however, is Asia. “There’s a lot of low-hanging fruit before we would enter Asia,” said ceo Carol Meyrowitz.

TJX expects to expand the store count of its largest division, the Marmaxx unit made up of T.J. Maxx and Marshalls, to about 3000. Revenues for the Marmaxx stores, even with the exclusion of same-store sales growth, are expected to reach $23 billion, 27.8 percent above the division’s projections.

HomeGoods is expected to expand from 450 units to about 825.

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