3 big changes coming to T.J. Maxx, Marshalls and HomeGoods

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3 big changes coming to T.J. Maxx, Marshalls and HomeGoods
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The TJX Companies Inc., owner of T.J. Maxx, Marshalls and HomeGoods, is one of the few success stories in retail this year.

As competitors like Macy’s, J.C. Penney and Sears close hundreds of stores, TJX is opening new locations and reporting sales increases at its off-price chains.

Read more: These major retailers are closing stores in 2017

What’s new at T.J. Maxx, Marshalls and HomeGoods

Although TJX is doing pretty well, it’s not business as usual. During a recent earnings call, company executives revealed some big changes on the horizon for the rest of 2017.

Here’s what T.J. Maxx, Marshalls and HomeGoods shoppers should know:

1. Introducing HomeSense

By the end of the summer, TJX will open its first HomeSense location in the U.S. — and add a few more stores in the fall.

The HomeSense banner already exists in Canada and Europe. We found this video on YouTube of a shopper in one of the stores. The product assortment looks like what you’d find in a HomeGoods.

These are just a few of the items blogger Jessica Melody showed off:

  • Artwork
  • Furniture
  • Throw pillows
  • Rugs
  • Kitchenware

TJX CEO Ernie Herrman said HomeSense will have “big category and design differences” compared to HomeGoods, but he wouldn’t reveal any details. He also said the checkout will be different.

“HomeSense will offer consumers a different mix of home fashions from HomeGoods, but at the same great values,” Herrman said. “We’re excited to bring HomeSense to U.S. shoppers and are confident they will love it as much as they love HomeGoods.”

The company believes consumers will want to shop at both home stores, just like how people frequent both T.J. Maxx and Marshalls.

Read more: 12 money-saving secrets to know about T.J. Maxx and Marshalls

2. Home is where the focus is…

In addition to the new HomeSense stores, TJX is really focusing on its assortment of home fashions because the category is performing better than apparel, which is highly competitive because of Amazon.

TJX plans to open new HomeGoods stores quickly and add the HomeGoods format to larger T.J. Maxx and Marshalls locations.

Even if you don’t have a standalone HomeGoods in your area, your T.J. Maxx or Marshalls has a home department. We’ve found great deals on accent furniture, sheets, candles, picture frames and kitchen items there.

If you’re not looking for anything special, start on the clearance aisle. The red tags indicate a clearance price.

Read more: The #1 secret to finding the best deals at HomeGoods

3. Upgrading the shopping experience

Everyone loves shopping in a brand new store, but what about the ones that have been there for 20 years? TJX says it’s aggressively remodeling them to improve the shopping experience.

With vacancies due to other retailers’ woes, the company is looking to relocate some existing stores to better strip malls.

Read more: 12 things that are cheaper at T.J. Maxx than on Amazon

“We believe tremendous opportunity remains to gain additional market share in the U.S. and internationally,” said Herrman. “We want our retail banners to be visible wherever consumers are looking.”

For 2017, TJX says it plans to open 250 stores across the company. Executives believe TJX has the potential to grow to 5,600 stores across its major brands worldwide.

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Mike Timmermann About the author:
Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, Save on Almost Everything.
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