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."