New U.S. Home Décor Chain
TJX launched its second home décor chain in the United States last week, with the opening of its first Homesense store in Framingham, Massachusetts. TJX plans to open three more Homesense locations in the U.S. in 2017.
In addition to Homesense, the $33 billion off-price retailer currently operates 619 HomeGoods locations in the U.S., along with 1043 Marshalls and 1194 TJ Maxx apparel stores.
While the Homesense moniker is new in the United States, it’s not new for TJX. The Fortune 500 retailer launched the HomeSense brand in Canada back in 2001. It now operates 112 HomeSense stores in 10 Canadian provinces, offering what TJX calls “off-price home fashions.”
A few years later, in 2008, TJX brought the off-price homeware concept to the UK with the debut of Homesense stores there. This year, Homesense expanded into Ireland as well, bringing the total store count for these two countries up to 51 doors.
Meanwhile, TJX continues to grow its HomeGoods retail footprint in the United States, adding 53 locations during the company’s 2017 fiscal year (which ended January 28, 2017), plus another 40 doors during the first two quarters of FY18.
What’s the difference between the two chains?
HomeGoods, which launched in the U.S. in 1992, offers giftware, home basics, accent furniture, lamps, rugs, wall décor, and more. One of the key differences is that HomeGoods has departments you won’t find at Homesense, like children’s décor, pet accessories and gourmet foods.
In contrast to HomeGoods, the new Homesense chain features expanded departments for large-scale furniture, lighting and art, as well as a “general store” area with hardware, home improvement essentials and cleaning supplies.
TJX does not expect Homesense stores to cannibalize sales from HomeGoods. In fact, the company believes their current customer base will enjoy both retail experiences, and they would even consider opening locations for both stores in the same shopping center.