Robin Lewis of The Robin Report tells his readers that TJ Maxx continues to add to its current 21,000 vendor list and 4,972 stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense, and Sierra. Simply stated, they are adding 1300 new stores when many other retailers are caving. He writes:
Coming off of another incredible year in 2022 with total revenues of $48.5 billion, TJX clocked in at $54.2 billion in total revenues for 2023. TJX continues to add to its current 21,000 vendor list and 4,972 stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense, and Sierra. Simply stated, they are adding 1300 new stores when many other retailers are caving.
Profitable and More Scalable
Q1 net sales in 2024, increased six percent to $12.5 billion. On the earnings call, CEO Ernie Herrman said, “We saw (consolidated) comp store sales growth of three percent, and every division was entirely driven by customer transactions, which underscores the strength of our value proposition. This also gives us confidence in our ability to gain market share across all our geographies. The second quarter is off to a good start, and we see numerous opportunities for our business for the balance of the year that we plan to pursue.” […]
With the new digital strategy, next-gen consumers will be able to enjoy the treasure hunt wherever they may be and whenever they desire the experience. That’s the formula for retail success in our dynamic and unpredictable marketplace.
Read more here.
