Okay, HomeGoods fans, we're one step closer to shopping at a new home store by the brand. TJX just announced the name of the new store, and when they'll start opening.
Back in February, we reported that TJX, the store's parent company, had told investors that they were planning to introduce a new home store concept in addition to the ever popular HomeGoods.
On Tuesday's earnings call, TJX CEO Ernie Herrman gave the new store a name: HomeSense. If that sounds familiar, that's because it's a store that already exists in Canada and Europe.
HomeSense is already quite similar to HomeGoods, which doesn't faze TJX. They've done it before: "The approach will be to differentiate these two home concepts to encourage customers to shop both stores," Herrman said in February, which is how the company has grown its T.J. Maxx and Marshalls businesses in the United States. The HomeSense stores will be open near TJX's other "off price" brands.
And you'll be seeing them next season, apparently. "We plan to open our first store in late summer with a few more stores slated for the fall," he said on the quarterly earnings call. Last quarter, the CEO stated that there would be a total of four new stores in 2017 as part of an 85-store HomeGoods expansion.
"While we are proud to have grown our HomeGoods customer base for many years, we believe we remain significantly underpenetrated in the total U.S. home market and enormous opportunity remains for us to gain share in this space," he said last quarter.
"HomeSense will offer consumers a different mix of home fashions from HomeGoods, but at the same great value," Herrman added. "Our customers are passionate about HomeGoods and we are confident they will love our new home concept, too."
What do you think? Will you shop HomeSense? Tell us in the comments!