Edmond English, President and Chief Executive Officer of The TJX Companies, Inc., commented, "At The Marmaxx Group, our effective differentiation between the T.J. Maxx and Marshalls brands has enabled us to ramp-up our expansion prospects and we now expect to add 75 stores in 2001. In Canada, we now expect to add 14 Winners stores in 2001 as well as to launch our new home-oriented concept, opening 7 of these stores during the year. We have accelerated the growth plan in 2001 at T.K. Maxx to 30 new stores in the U.K. and Ireland and, at A.J. Wright, to 20 stores. At HomeGoods, we plan to open 30 stores in 2001 while we continue to shore up our distribution capacity at this division. All in all, we expect to add a net of 173 stores on a consolidated basis this year. We believe that the U.S., Canadian and European markets could support a store base from our existing business concepts of over 4,000 stores over the long term. In order to accommodate this increased store growth, we will be investing further in our distribution center network to support the continued success of our business. Further, we will continue with our common stock repurchase program."
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 661 T.J. Maxx, 535 Marshalls, 81 HomeGoods and 25 A.J. Wright stores in the United States. In Canada, the Company operates 117 Winners, and in Europe, 74 T.K. Maxx stores.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Certain statements contained in this release are forward-looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: general economic conditions and consumer demand and preferences; weather patterns in areas where the Company has concentrations of stores; competitive factors, including pressure from pricing and promotional activities of competitors; the impact of excess retail capacity and the availability of desirable store and distribution center locations on suitable terms; recruiting quality sales associates; the availability, selection and purchasing of attractive merchandise on favorable terms; potential disruptions in supply and duties, tariffs and quotas on imported merchandise, as well as economic and political problems in countries from which merchandise is imported; currency and exchange rate factors in foreign operations; expansion of the Company's store base, development of new businesses and application of the Company's off-price strategies in foreign countries; the Company's acquisition and divestiture activities; and other factors that are or may be described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
