TJX To Add 130 Stores in 2025, Shrugging Off Tariff Talk as Having a 'Silver Lining' for Company Buyers

Off-price retail umbrella TJX appears to be poised for significant growth in 2025, bolstered by strong financial performance in recent times as well as somewhat unique positioning in the retail marketplace during a time of turbulence — and tariff talk.

As Retail TouchPoints noted, the company's roster of banners — including HomeGoods, HomeSense, Marshalls, Sierra, and TJ Maxx — delivered extremely solid bottom lines during the company's fiscal 2025, which drew to a close on Feb. 1.

Net sales for TJX were up 4% year-over-year, coming in at $56.4 billion. In terms of quarterly earnings, as Zacks Equity Research outlined, EPS came in at $1.23 per share, beating Zacks' projections of $1.16, as well as topping EPS of $1.12 just a year ago.

Zacks indicated that TJX had offered up a number of surprise beats, from earnings to overall revenues, and that the company's shares had outperformed the S&P 500's gain of 1.3%, seeing a 1.6% trend upward.

TJX Adding 130 Stores This Year, With a Long-Term Target of 7,000 Locations

TJX rolled out an extensive plan to open 130 new locations over the next 12 months, including (but not limited to):

• 40 TJ Maxx or Marshalls locations
• 30 HomeGoods stores
• 20 Sierra locations
• 9 HomeSense stores

“We plan to add about 130 new stores, which will bring our year-end total to over 5,200 stores,” said TJX CFO John Klinger, per Glossy. “This would represent a store growth of about 3% in the U.S.”

Further, TJX gestured toward plans to open 22 stores in Europe, 12 north of the border in Canada, and six in Australia. Meanwhile, approximately 500 stores are slated for remodels, and 40 stores are likely to face relocation to more desirable lots.

“In addition to our future store growth opportunities, I want to reiterate my excitement for our newly formed joint venture with Grupo Axo in Mexico and our recent investment in Brands for Less in the Middle East,” TJX CEO and President Ernie Herrman said during a late-February analyst call. “We see both of these as a great way to participate in the growth of off-price in different areas of the world.”

Herrman pointed to the recent misfortunes encountered by competitors Bargain Hunt, Big Lots, JOANN, and Party City as leaving opportunity on the table for TJX in terms of future growth.

“We do see a lot of [real estate] availability going forward,” Herrman said.

“As we’ve talked about in the past, we see an opportunity to expand into some more rural areas where the department store of the area closes and we can fill that void. Also, you’re still seeing large-box closures that we have the opportunity to either go into a new area or to relocate a store to a better shopping area," he added.

TJX imposed a new long-term target of 7,000 stores worldwide, meaning that the company would need to set up 1,900 new locations to meet this expectation.

TJX Suggests Tariffs Pose No Significant Concerns, and 'Buying Opportunities' for Company Teams Exist

While other retailers may face significant headwinds due to the ongoing tariff impositions and plans issued by President Donald Trump and his administration, TJX execs seem to believe that the company is well-positioned to weather this storm without much issue.

Retail TouchPoints suggested that Herrman exhibited cautious optimism over these concerns, particularly given that TJX sources very little of its product directly from China. As an off-price retailer, many of TJX's buys come directly from other retailers in respectively local markets, whether that's overstock, surplus, liquidated wares, or other goods.

“The silver lining is that with consumer confidence down and a bit of a rocky environment out there and the way our buyers operate — which is that the buyers go out and they really assess at the retail level what we can retail the product for and then they work backwards to what the cost should be — their strategy is not to factor in tariffs or any other costs that actually can play into the picture here,” Herrman said during the call.

“A few years ago with extreme inflation, we navigated right through that, just as we will on this. It’s a different headline, [but] the same approach. So whether there’s tariffs or no tariffs, our buyers’ focus is on buying the goods, determining the cost based off retail that we can put the goods out at. And because of the environment we’re in, where there’s a loss of consumer confidence, stores closing, etc., I’m thinking there’s more availability out there over the next six months, even more than there has been, which is going to create more buying opportunities for our teams," he added.