Bargain hunters, rejoice.
The company that owns the discount retail store chains T.J.Maxx, Marshalls and Home Goods is planning to increase its store count by more than 50 percent.
Ernie Herrman, chief executive of TJX Companies, told investors Tuesday that the parent company will have 5,600 stores when it’s done expanding, CNN Money reports.
Herrman explained during a Tuesday conference call about first-quarter financial results for TJX Companies:
“We are confident that we can continue to open stores around the world.”
No time frame was provided for when the expansion would be completed, but the parent company will not necessarily stop expanding once it reaches 5,600 stores. CNN reports that TJX Companies is considering opening more stores after reaching that goal.
“We believe significant opportunity exists beyond this. To reiterate, our [store opening] estimates do not contemplate the potential to expand into additional countries or open new chains in existing markets.”
The goal of 5,600 stores represents an increase of about 53 percent. As of the end of the company’s first quarter of this year, which was April 30, TJX Companies operated 3,661 stores worldwide.
Of those stores, 47 were opened during the first quarter of 2016 alone, which represents a square-footage increase of 5 percent compared to the first quarter of 2015, according to TJX Companies’ first-quarter financial report.
TJX Companies currently operates stores in the U.S., Canada, Australia and several European countries.
The U.S. stores, as of April 30, comprised:
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