TJX Companies, Inc., which is the parent company to HomeGoods, Marshalls, T.J.Maxx to name a few, has cornered the market in off-price products. The company's fourth-quarter earnings report showed impressive growth through their statistics stating decor-lovers flocking to HomeGoods in herds, scooping up everything from servingware to wall art.
To capitalize on their winning retail formula and to tap on the “significantly underpenetrated” US home market, TJX Cos. President and CEO, Ernie Herrman just announced the launch of their new home concept store similar to HomeGoods in the upcoming year. Based on the company’s earnings, Mr. Herrman remains confident of their customers accepting the new brand with open arms. In the meantime, the company plans to add even more HomeGoods stores this year while also opening four new-format home concept stores.