TJX Cos, which runs more than 4,900 stores spanning nine countries, could expand its global fleet by 1,300 or more additional locations, CEO Ernie Herrman told analysts on Wednesday.
This year alone, the off-price retailer plans about 141 net new locations, expanding its footprint to nearly 5,100 and reflecting growth of about 3%, Chief Financial Officer John Klinger said in February. Also, about 480 stores will be remodeled and about 40 will be relocated, he said.
In the U.S. this year, plans are to add 45 net new Marmaxx locations (T.J. Maxx and Marshalls), 40 HomeGoods locations and 26 Sierra locations. Outside the U.S., plans are to add 10 stores in Canada, 15 in Europe and five in Australia, Klinger said.
Source: Retail Dive