Is HomeGoods going out of business? - Is they closing down in 2023?

Is HomeGoods going out of business? Those who have spent time shopping at HomeGoods are certainly used to the lines surrounding several aisles. Clients of the company are devoted, and the business is distinct. HomeGoods is one of the most well-known chains for home furnishings. It plans to reduce the number of its locations.

HomeGoods is a network of furniture stores with corporate headquarters in Framingham, Massachusetts. It started as a tiny business in 1992. It has now expanded to hundreds of sites around the country. Furniture, bedding, kitchenware, art, and other home decor items are all sold at HomeGoods.

HomeGoods is a subsidiary of TJX Companies, which also owns T.J. Maxx, Marshalls, and Sierra Trading Post. The size of each store varies depending on its location. There are places in the country where HomeGoods and T.J. Maxx or Marshalls store brands are all located on the same property.

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Is HomeGoods launching an online store?

HomeGoods entered the e-commerce market on September 28, 2021. Thus, it formally opened its online store. Customers no longer have to leave the house to browse the aisles in search of charming holiday decor, the ideal throw pillow, a cosy bed set, or a new kitchen appliance.

According to a press release from John Ricciuti, president of HomeGoods, “We are excited to introduce a new option for our devoted shoppers to explore and buy an inventory they are familiar with.” We expect that shoppers will enjoy HomeGoods’ online store as much as they enjoy browsing its aisles.

HomeGoods is the newest TJX Companies brand to enter the e-commerce market due to this launch. T.J. Maxx opened its internet business in 2013, while Marshalls started its online store in 2019.

According to Ernie Herrman, president and CEO of TJX Cos., “we feel that this is something our regular clients have been longing for, and it provides another option for us to bring in new consumers.” HomeGoods.com, like its other online companies, will enhance its physical shops. It will enable customers to shop for fantastic deals whenever they choose, day or night.

Compared to the other TJX websites, HomeGoods made a tiny adjustment to its e-commerce plan, he added. To maintain a “treasure hunt” in-store feel, TJMaxx.com and Marshalls.com use different buying teams and inventories. HomeGoods doesn’t worry as much about uniqueness. It’s because the home category has many product lines that “change so fast.” As a result, customers and inventories are linked.

Which HomeGoods stores are closing?

The HomeGoods in Ashburn, Virginia, may soon close its doors permanently. The firm’s 25,000-square-foot location in Ashbrook Commons is listed as “open for lease,” based on the local news source.

However, there is some good news for the community. A new HomeGoods is opening in the neighbouring town of Leesburg, replacing the one shutting down in Ashburn. Also, there are two additional HomeGoods locations nearby, in Sterling and South Riding.

The news source claims that both activities will likely occur sometime in 2023. But no formal dates have been announced for the Ashburn store’s closure or the Leesburg store’s inauguration. Best Life has contacted HomeGoods for more details about the shutdown but has not received a response as of yet.

A locally owned retailer of home furnishings is permanently closing its two locations. This includes one at the Fashion Outlets of Niagara Falls and another at the Eastern Hills Mall. Both the Fashion Outlets and Eastern Hills locations of Home Today and Home Decor are said to close by the middle of January. Owner TJ Miller claims that the sales during the liquidation have already started.

Along with labour and supply chain issues, he cited sales decline as one of the primary reasons for his store closures. He claims that the conflict between the mall and the BFLO Store is the primary cause of the closure of the Eastern Hills business. The sales have decreased by 75% since the BFLO Store left this past summer.

Beginning in early 2023, the Center City Marshalls location on East Market Street will close. This is the most recent of several retail closures along one of Philadelphia’s busiest commercial roadways.

On January 14, the clothing and home goods store, which has occupied a 26,000-square-foot facility at 1044 Market St. since 2012, will permanently close. The reason TJX, the chain’s parent firm, decided to close the Market East branch is unknown. However, a representative has confirmed that managers and staff members at the business are receiving job offers from other places.

In addition to four T.J. Maxx shops, Philadelphia has three more Marshalls stores. The business operates several other retail stores across Philadelphia, its suburbs, and South Jersey. Also, it operates HomeGoods, Homesense, and Sierra Trading Post. Customers can use the online shop locator provided by TJX to identify the nearest retailer.

HomeGoods competitors

Given TJX Companies Inc.’s success, it is not surprising that other retailers are also finding success. HomeGoods’ major competitors, several of which score higher than it, are At Home, Bed Bath & Beyond, and T.J. Maxx. Even though all of these shops sell the same goods, there are a few obvious differences.

Firstly, “At Home” is sometimes compared to a Walmart or Costco due to its size and design. It’s because it tends to be a considerably larger store. Aisles at HomeGoods are famous for being a little dispersed and frequently disorganized. This adds to the feeling of being on a treasure hunt. Some customers may enjoy this exciting trip, but others would prefer the bigger, better-organized aisles at Home.

The brands used by HomeGoods and some of its competitors are yet another difference. “At Home” and “Bed Bath & Beyond” sell their brands and a more unified selection of products. On the other hand, HomeGoods sells well-known brand items at lower prices.

HomeGoods and T.J. Maxx are more of an international mixture of suppliers, labels, fashions, and goods. The biggest distinction between T.J. Maxx and HomeGoods is that T.J. Maxx offers a clothing section. Thus, it allows customers to shop for clothes and home goods in the same location.

Conclusion

HomeGoods and similar shops became popular with home purchasers, interior designers, and college students relocating into dorm rooms. Additionally, everyone else who wants to clean up their Home, office, or business likes the company. HomeGoods achieved a milestone in 2015 when it opened its 500th location. The store didn’t provide online shopping options before 2021 because its focus was largely on the in-store experience.

However, it introduced its brand-new, user-friendly e-commerce site in 2021. Amazingly, the store marked its 30th anniversary in 2022, given its importance to so many people. A focused Google search reveals that many locals are shocked by its closure, which is largely seen as unexpected.

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