TJX happy with home

Raises long-term outlook for store openings

HTT Staff -- Home Textiles Today, 2/27/2013 1:45:37 PM

Framingham, Mass. - TJX Cos. thinks 2013 is going to be a good year for home - and not just for its own stores.
"We believe home across the board is going to be much stronger as a percent to total [sales] for many businesses," ceo Carol Meyrowitz told analysts during today's fourth quarter conference call.
The home business at both Home Goods and the company's Canadian stores has been "absolutely staggering," she said. TJX also likes what's happening at its Home Sense chain in the UK.
Today, the company raised the long-term goal for the number of Home Goods it believes the country can support to 750-825 stores. Its previous ceiling had been 750 units.
TJX also raised the long-term footprint for MarMaxx (TJMaxx and Marshall's stores) to 2,400-2,600 units.
In addition, Meyrowitz said the company believes it can grow its international business by 50%.
After taking a short-lived stab at ecommerce in 2005, TJX plans to slowly enter the business later this year, albeit as a small, controlled test under the TJMaxx nameplate.
"While we intend to start it slowly, long-term we see is as a major opportunity," said Meyrowitz.