HomeGoods might feel like your little secret since you unearth so many astoundingly affordable designer decor treasures there, but the secret is out: TJX Cos., parent company to HomeGoods, Marshalls, and T.J.Maxx, has cornered the market in off-price products. The company's just-announced fourth-quarter earnings report showed impressive growth despite challenging marketplace conditions. And their growth in the home sector in particular shows that decor-lovers are flocking to HomeGoods in droves, scooping up everything from servingware to wall art.
To capitalize on their winning retail formula, TJX Cos. president and CEO Ernie Herrman just announced that they will be launching a new home concept store similar to HomeGoods in the year ahead. "While we are proud to have grown our HomeGoods customer base for many years, we believe we remain significantly underpenetrated in total U.S. home market and enormous opportunity remains for us to grow market share in this space. Our customers are passionate about home goods and we are confident they will love our new home concept, too," Fox Business reports Ernie stated on the company's earnings call. The company plans to add even more HomeGoods stores this year while also opening four new-format home concept stores. All this means it's time for you to celebrate and decorate, as there will soon be much more affordable decor to be had.