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TJX Looking at Urban Spaces

FRAMINGHAM, MA-Expansion is slowing, but it could include New York City and other high-traffic areas, executives say.

By Debra Hazel | Updated on February 26, 2009

FRAMINGHAM, MA-TJX Cos. may become an increasingly urban retailer, as it looks to take advantage of the current downturn to enter more densely populated areas, executives said at the company’s fourth quarter conference call.

In the US, plans call for a net of 17 new Marmaxx (Marshalls and T.J. Maxx) units, four net HomeGoods stores, 13 net new A. J. Wright stores in 2009 (including a market debut in Atlanta), and one or two Marshalls Shoe Mega Shops. The company will open a net of 13 new stores in Canada, eight stores in the United Kingdom and 10 stores in Germany. Last year, TJX added a net 123 stores in its various formats worldwide.

“One of the biggest opportunities for us is places like New York City and densely populated High Streets like in the U.K.,” said Carol Meyrowitz, president and CEO. “These were places that were very difficult for us to enter, and this may be our time.”

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