19 Things You Never Knew About HomeGoods
:upscale()/ps-image-unavailable.png)
Few stores inspire devotion in their customers like HomeGoods. Treasures abound in HomeGoods locations across the country, and for that reason shoppers are seriously dedicated to the brand. In fact, news about an up-and-coming HomeGoods spin-off store has fans eagerly awaiting the next discount home retailer.
Still, shopping at HomeGoods makes me curious. Where do buyers find the merchandise? How do certain items end up at my local HomeGoods, and not elsewhere? I have so many questions, but so few answers.
It turns out I'm not the only one. The company is notoriously secretive about their corporate processes. Fortunately, some answers are out there if one does a little digging. If you'd like to know more about the magical store that is HomeGoods, then read on.
It's Part of a Major Conglomerate
HomeGoods is owned by TJX Companies, which also owns Marshalls and TJ Maxx.
There's a Ton of Them
At the end of 2014, there were 487 HomeGoods locations in the US and Puerto Rico.
It's Run by a Very Smart Woman
The CEO of the HomeGoods parent company TJX is a woman named Carol Meyrowitz. Forbes ranked her as the 76th most powerful woman in the world in 2015.
They're Secretive
HomeGoods, and TJX as a whole, are known for a serious dedication to privacy, as they don't want competitors discovering the secrets to their success.
They Get Stock From All Over
TJX finds items from over 16,000 vendors to stock HomeGoods and its other subsidiaries.
There's No E-Shop
HomeGoods does not sell their products online. Its sister site TJ Maxx, however, does. There may be e-shops for all TJX business one day.
Items Turn Over Quickly
At HomeGoods, as with all TJX stores, a "door to floor" approach is used. Fortune detailed the TJX system, in which new inventory gets out on the shelves and racks quickly rather than gathering dust in a storeroom.
Celebs Love HomeGoods, Too
Mario Lopez was recently treated to a guest house makeover from HomeGoods. E!'s Jason Kennedy and Lauren Scruggs, meanwhile, outfitted their house with pieces from HomeGoods, too.
Vendors Keep Quiet
One rule for vendors working with TJX and HomeGoods? Don't talk about working with TJX and HomeGoods. It's all a part of their culture of secrecy. "We're absolutely fine with every vendor saying they don't do business with us. It's a very important part of our relationship," CEO Carol Meyrowitz told USA Today.
They're Doing Really Well
TJX stock hit a record high in August, 2015. HomeGoods specifically had an excellent third quarter of the year.
They Have a Blog
The HomeGoods team runs a blog on their website with frequent updates from style professionals.
They Have Roots in the Northeast
The company, and TJX, is based in Framingham, Massachusetts.
Women Are Their Core Customers
The HomeGoods and TJX "core customer" is described as a woman between 25 and 54, middle to upper-middle income, who also shops at high-end department and specialty stores.
Their Buyers Travel a Lot
The company says that TJX and HomeGoods buyers travel around the world 40 weeks a year sourcing goods for the stores.
It's Over 20 Years Old
HomeGoods was introduced by TJX in 1992.
They're International
HomeGoods has extended into foreign countries as well. The shops are called HomeSense in Canada and the UK.
Much of Their Inventory Is New
CEO Carol Meyrowitz confirmed that most of what is sold across TJX's many stores is actually new, not from past seasons. She told USA Today that 85 percent of inventory is from the current year.
Professional Stylists Work With Them All the Time
Celebrity party planner Mindy Weiss has worked with HomeGoods, as has food and entertaining expert Katie Lee. Even celebrity designer Nate Berkus has to get his HomeGoods fix once in a while!
They're Ready to Help You
HomeGoods has long had a feature called StyleScope, which helps aspiring decorators figure out their design style.