T.J. Maxxparentplans newchainof home stores

The parent company of discount stores, like T.J. Maxx and HomeGoods, announced it will launch a new home store concept later this year.

TJXCos. official said it will open a new chain store that will sell items for the home, but will be completely different thanHomeGoods. In an earnings call last week, Chief Executive ErnieHerrman said the company will use existing distribution centers and supply chain to support the new brand.

“Looking ahead, we see many opportunities to continue our successful growth and are pursuing many initiatives to keep driving shoppers to our stores,” Herrman told investors. “We are making strategic investments in our infrastructure, stores, and new seeds to strengthen our leadership positions and allow us to capture additional market share in the U.S. and internationally.”

Herrman did not say what the nameof the store will be orwhere they will open new locations.

TJX hasmore than 3,800 stores with sales of more than $33 billionannually. Thecompanyadded 198 stores during the fiscal year that ended on Jan. 28. HomeGoods, Marshalls and T.J. Maxx will all add stores in the U.S. in 2017, according to a company statement.

HomeGoods has locations in Beavercreek, Miamisburg, and three others in the Cincinnati area. T.J. Maxx has stores in Kettering, Miamisburg, Beavercreek, West ChesterTwp. andmultiple in Cincinnati. Marshalls has locations in Huber Heights and another at Cross Pointe Shopping Center in the Dayton area, among others in Cincinnati.

Thepositivegrowthforthecompany, which specifically focuses on discount brands, comes as several retailers downsize brickand-mortar stores and struggle to maintain profits.

Thoughretail sales are expected to growbetween 3.7 and 4.2 percent, according to the National Retail Federation’s 2017 economic forecast, online sales will grow faster. Online and other non-store sales will increase between 8 and 12 percent — most likely forcing additional closures of brick-andmortar stores, including several in the Miami Valley.

Stores like Macy’s, J.C. Penney, Sears and Kmart announced store locations will close across the U.S., including in Ohio.