TJX Cos. amplifies residence ambitions

Framingham, Mass. – Dwelling as a proportion of complete gross sales jumped 21% final yr at TJX Cos., and the corporate sees extra market share alternative on the horizon.

Dwelling accounted for practically 40% of gross sales within the current fiscal yr, up from 33% in 2019. With that in thoughts, CEO and president Ernie Herrman introduced a brand new long-term goal for HomeGoods shops within the U.S.: 1,500 models – up roughly 100 doorways from the earlier estimate. The nameplate stays on observe to launch e-commerce later this yr and at present operates 821 shops.

“We really feel like there’s far more market share alternative as we transfer ahead,” Hermann instructed analysts throughout the firm’s quarterly name.

The Dwelling Sense division will open 5 U.S. shops this yr. “Comps are even greater at Dwelling Sense than they’ve been at Dwelling Items,” mentioned Scott Goldenberg, senior EVP and CFO for TJX Cos. “Common retail and common basket have been sturdy.”

For the fourth quarter ended Jan. 30, gross sales efficiency by division included:

HomeGoods: Gross sales up 14.0% to $1.25 billion, with comp up 12%

Marmaxx U.S.: Gross sales down 6.5% to $6.92 billion, with comp down 7%