TJX Cos. Inc. wants to eventually increase its total store count to 6,100 from its current level of 4,141, CEO and President Ernie Herrman said during a conference call with analysts on May 22.
During the fiscal first quarter ended May 5, the off-price retailer added 71 new stores across its brands, which includes T.J. Maxx, Marshalls, HomeGoods, Sierra Trading Post and Homesense. TJX posted adjusted EPS that beat its own guidance for the quarter.
"We see a tremendous opportunity to keep growing our global store base," Herrman said on the call.
The growth in TJX's store base is a "long-term" goal, and would take place in the company's existing chains and the countries where TJX currently operates, he said. TJX operates in nine countries, including the U.S., Canada, the U.K., Ireland, Germany, Poland, Austria, the Netherlands and Australia.
