TJX Cos.’s management is launching a new chain in the spring next year that management says has the capability of hitting 100 stores. It’s not putting a name out there yet, though, and won’t reveal the concept.
Meanwhile, the operator of Marshalls, T.J. Maxx and other chains plans to nearly double its overall store count from just above 2,700 units to 4,200 locations. This year, 130 new stores are planned.
These moves are happening while TJX continues to experience extremely strong financials. Fourth-quarter same-store sales shot up 12%, and earnings rose 58%
TJX’s CEO says that “value is not going out of fashion,” even if the recession ends. Do you think the company can sustain this growth? And does anyone want to take a shot at predicting the new concept?
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Perhaps the new concept is a higher end value chain, similar to a Nordstrom’s Rack or Loehmann’s.
I would guess the new concept to be home accessories/furnishings, carrying more of the valued-priced decor currently in “regular” stores under “HomeGoods” line. I would also epec an expermental corner of designe furnishings at great savings, much like the TJMaxx Runway concept in current stores. They’d be aiming to undercut Willams-Sonona, Pottery Barn, West End, Crate & Barrel. They’d be marketing it as “Home Deoristas” or some such.
Long shot guess: Menswear.
A value competitor to Jos. A Bank and Mens Wearhouse.
Just a guess.
Probably something along the line for teenagers to compete with Forever 21. It has to be something in the segments that have showed promise. So that leaves out Fast Food, Electronics, Furniture, etc. They dont want to compete with Walmart. So that is my best guess.
TJX has been testing a new concept of TJ MAXX and MARSHALLS combined called “MARMAX”.
How about Maxx less Mar(a)…..
According to my information, the concept is “TARMAX” not “MARMAX”, and will be opening soon in major airports domestically and internationally. Their target market are harried working parents who are guilt-ridden consumers substituting material goods for time, attention, and love.
My guess is a combined clothing/retail store similar to AJ Wright, but slightly upscale.
Depending upon concept size, they may be able to take advantage of the empty boxes from Linens & Things or Circuit City. Could be a timely and cost effective opportunity.
The AJ Wright at Midtown Center in Milwaukee appears to be an active store. Hopefully, they target SE Wisconsin … we could use the construction work.
TJX already tried a Homegoods store and it did not work out. That concept was pretty basic though so it may be more upscale or interesting.
The new concept could be anything, how ever I wonder if at some point TJX will exhaust the available supply of off price inventory, which forces them to do more direct sourcing.
IMHO the possibilities for the new concept are either something low end or else yet another stab at the higher end of the off-price market. The third possibility is some kind of new shoe only store. 100 total stores suggests high end concept a la the old Filene’s Basement.
Nice guesses everyone but you’re all wrong. Here’s a hint. Look at your feet and think superstore.
Are you saying its a mega-sized nail salon? TOEMAX!