St. Petersburg, FL, July 12--TJX Cos. is planning to open several of its new HomeGoods stores in the Tampa Bay area in the next few years. The first one, at 2567 Countryside Blvd. in Clearwater, will be followed this fall by one in Tyrone Corner Shopping Center in St. Petersburg, according to St. Petersburg Times.
About the size of a T.J. Maxx or one of TJX's Marshalls stores, a HomeGoods store is designed to compete on price with big-box rivals Linens n' Things, Pier One Imports and Bed Bath and Beyond.
The stores are stocked with home decorator items, housewares, cookware, bedding, linens and a surprising amount of furniture, lamps and area rugs. The furniture ranges from a $99 Papa-san chair to a $600 black leather easy chair.
There are differences. As an off-price discounter, HomeGoods varies the selection with the unexpected surprise deals of a treasure hunt. Most similar chains run through their inventory two to four times a year. HomeGoods' goal is eight, so the selection is thinner and changes as quickly as it does in a T.J. Maxx apparel store. One result: Instead of full selections of brand-name goods, bargain seekers find abbreviated selections at less than full retail. Some of the brands seen recently in the bedding departments included Tommy Hilfiger, Ralph Lauren, Nautica, Sealy, Joseph Abboud and Laura Ashley, but not a full selection from any of them. There were Cuisinart toasters, for instance, but no full-sized food processor of the same name. Waterford stoneware was there, but not crystal.
"We're very good at snatching up buying opportunities in the marketplace," said Robyn Arvedon, HomeGoods spokeswoman.
HomeGoods also is different because it has an online e-tailing site, but allows customers to return goods at stores.
TJX developed HomeGoods from a single store in 1992 into a chain that in 2004 had sales of $1-billion. Sales in stores open more than a year, however, grew only 1 percent, a performance the company considered disappointing. Nonetheless, the Framingham, Mass., company plans to add 40 stores to its 216 stores this year. About half are in shopping centers with a T.J. Maxx or Marshalls.
