TJ Maxx's Parent Plans Expansion with 1,300 New Stores
TJX Companies, the parent of TJ Maxx, Marshalls, HomeGoods, Sierra, and Homesense, has big growth plans. During a recent earnings call, TJX CEO Ernie Herrman announced the company could open over 1,300 additional stores across the U.S., Canada, Europe, and Australia. According to Herrman, this expansion capitalizes on TJX's flexible "off-price" business model and broad customer appeal. "We are convinced that significant market share opportunities remain...over the long term," he stated. "We see the potential to further expand our store footprint by at least another 1,300-plus with our current retail banners in our existing countries."
JCPenney Opens First New Store in 8 Years With Modern Design
Department store JCPenney has been working to make a strong comeback since leaving bankruptcy in late 2020. On April 5th, the retailer reached an important milestone by launching its first brand new location in eight years at the Willowbrook Mall in Wayne, New Jersey. The new 65,000 square foot JCPenney store now occupies the space where Lord & Taylor's store used to be. It's rocking a fresh redesign with an open layout, bright LED lights, movable fixtures, and uses mannequins to display clothing items.
Burlington to Open 100+ New Stores This Year
Burlington Stores is speeding up its plans to open more new stores after a year of good sales growth. The off-price retailer reported a 4% increase in comparable store sales for fiscal 2023 and beat expectations in the fourth quarter. Burlington plans to open approximately 140 new stores in 2024, with the goal of achieving around 100 net new locations after accounting for relocations and closures.
Babies R Us Is Making a Comeback in Kohl's Stores
Parents will soon have another place to shop for baby gear and furniture - inside Kohl's department stores. The retailer announced a partnership to bring dedicated Babies R Us sections to over 200 of its locations by Fall 2024. The new Babies R Us shops, ranging from 750 to 2,500 square feet, will offer a wide assortment of baby products like furniture, strollers, car seats, feeding supplies, and more. They'll complement Kohl's existing baby clothing and accessories from brands like Carter's and Fisher-Price.
The Long-Awaited First Dillard's South Dakota Store Is Finally Here
After lots of delays because of Сovid-19, Dillard's is finally opening its very first store in South Dakota. The new location is at The Empire Mall in Sioux Falls and is going to be huge - 140,000 square feet – 40,000 feet more than the old Younkers store it's replacing. The new Dillard's has been totally renovated with all the newest store designs, technology, and merchandise displays. Shoppers will get to experience shopping in a modern, updated way.
Macy's 150 Closures Make Room for More Bloomingdale's and Bluemercury
Macy’s has to go on a diet. The famous department store chain announced major changes – it will close 150 underperforming locations across the country over the next three years. As of early 2024, you can say goodbye to stores in Arlington, Virginia; San Leandro and Simi Valley in California; Lihue, Hawaii; and Tallahassee, Florida. A third of this 150 Macy’s spots will be closed in 2025, their locations are still unknown.