Growing a Global, Off-Price Value Company
1 Long-Term Potential includes 1,000 HomeGoods and 400 Homesense stores.
2 Total TJX stores include 27 Sierra Trading Post stores in the U.S., as of FYE18.
We continue to grow TJX as a global value retailer. We operate stores in nine countries on three continents and are one of the few large U.S. retailers of apparel and home fashions to have expanded successfully internationally. With more than 4,000 stores as of February 3, 2018, we see the potential to expand our store base by approximately 50%, to 6,100 stores long term, with just our current chains in just our current countries alone. Our Company has a focused portfolio of four major divisions, which we believe represents tremendous growth potential for TJX in the U.S. and internationally. Beyond this, we are confident our value concept can work in any country where consumers seek great fashion and brands at outstanding values!
In the U.S., we still see meaningful growth ahead for Marmaxx, which has been our largest and most profitable division. We see the long-term potential to grow this division to 3,000 stores, over 700 more stores than today. Giving us confidence is Marmaxx’s continued comparable store sales and traffic increases in many different retail and economic environments. In 2018, we expect to open about 65 additional T.J. Maxx and Marshalls stores.
We also see enormous opportunity for growth at HomeGoods and Homesense in the U.S. We believe we remain under-penetrated in the U.S. home market and see tremendous whitespace for both of these concepts. At HomeGoods, we see the long-term potential to reach 1,000 stores, over 300 more than we have today. HomeGoods’ long history of strong results gives us confidence in our outlook. Additionally, we have about 65 top markets where we operate a T.J. Maxx or Marshalls that do not have a HomeGoods. For Homesense, we opened our first four stores in 2017, and customer response was phenomenal! We plan to continue opening Homesense stores in our larger HomeGoods’ markets to encourage customers to shop both banners. We believe we can grow the Homesense banner in the U.S. to about 400 stores over the long-term. In 2018, we expect to open 85 HomeGoods and 15 Homesense stores in the U.S.
In Canada, we started as a five-store Winners chain in 1990 and today, we are that country’s largest off-price retailer by far. In addition to Winners, we also operate HomeSense and Marshalls in Canada. Long term, we now see the potential to grow TJX Canada to approximately 600 stores. In 2018, we expect to open about 30 stores in Canada.
In Europe, we brought the off-price concept to the U.K. and Ireland over 20 years ago. Today, we are the only major brick-and-mortar off-price retailer of apparel and home fashions in Europe. We brought T.K. Maxx to Germany in 2007, Poland in 2009, and Austria and the Netherlands in 2015. We also introduced the off-price home fashions concept with the launch of Homesense in the U.K. in 2008 and Ireland in 2017. In 2015, we were excited to add Trade Secret, an off-price retailer in Australia, to our family of retail chains. In the spring of 2017, we converted Trade Secret stores in Australia to the T.K. Maxx banner. Together, our European and Australian businesses comprise our TJX International division. Long term, we see the potential to grow TJX International to 1,100 stores, with the potential to grow to 975 stores with our current chains in our current European countries, and 125 stores in Australia. In 2018, we plan to open approximately 30 additional stores in Europe and five stores in Australia.
Beyond our successful brick-and-mortar business, we see e-commerce as an important complement to our stores and another way to drive traffic and expand our customer base. In 2012, we added Sierra Trading Post, an off-price, Internet retailer, to our family of businesses, and in 2013, we launched e-commerce on tjmaxx.com. Together with tkmaxx.com in the U.K., we now offer consumers three e-commerce sites to shop differentiated merchandise and great values 24 hours a day, 7 days a week. In 2018, we plan to continue to open Sierra Trading Post brick-and-mortar stores, bringing this online concept to more consumers in a store setting, with eight store openings planned in the U.S.
Our ability to leverage our global teams, infrastructure, and operational expertise are major reasons for our confidence in being able to continue opening stores successfully around the world. We believe that we have enormous growth in front of us and see an exciting future for TJX, both in the U.S. and internationally!