"I have a lot of confidence in HomeGoods," said Edmond English, TJX's CEO and president. Company officials have said that they plan to grow the chain, which opened 34 units last year, to around 500 stores.
In TJX's core Marmaxx group, a combination of its T.J. Maxx and Marshalls chains, the company plans to add 47 stores this year, down from the 50 it opened in 2004. Those two chains currently have a total count of 1,468 units.
Last year, TJX posted a 5% same-store sales increase in all of its chains compared to 2003. Net sales jumped 12% to $14.9 billion, while diluted earnings per share increased from $1.28 to $1.30, after the company took a charge of $0.08 due to lease accounting and a recent accounting standard relating to its convertible debt.
Marmaxx by itself reported a 4% year-over-year same-store sales rise in 2004, its best performance in five years. The increase was in part due to improvements in its accessories, footwear and jewelry departments, English said.
TJX operates a total of 2,224 units in its T.J. Maxx, Marshalls, Winners, HomeGoods, T.K. Maxx, A.J. Wright, HomeSense and Bob's Store's chains.
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