At some point, you may have seen rumors online or even heard in passing that Marshalls is shutting down for good. These stories tend to worry regular shoppers, especially if they notice a location closing in their city. But let’s clear things up right away: Marshalls isn’t going out of business. In fact, the big picture is a lot more positive than the headlines suggest.
Over the past year or so, Marshalls has actually been making moves to expand—opening new stores in some markets, adjusting its footprint in others, and holding steady overall. If you’re curious about what’s actually happening, let’s walk through the facts and give you some real context.
Marshalls and Its Parent Company
Marshalls is part of the TJX Companies, which also owns TJ Maxx, HomeGoods, Sierra, and a few other brands you’ve probably seen at the mall or in your local plaza. TJX Companies is where a lot of the strategic decisions get made—so if you want to know how Marshalls is doing, you have to look at the whole group.
Financially, TJX Companies is in pretty good shape. They’ve consistently reported growth in revenues and have been willing to invest in both new locations and rebranding old ones. This is important because, if Marshalls were in real trouble, you’d expect to see the parent company pulling back, closing lots of stores, or starting a fire sale. That isn’t happening.
Why Are Some Stores Closing?
You might be scratching your head at this point, especially if you’ve noticed “store closing” signs in your area. Here’s the deal: some Marshalls (and TJ Maxx) stores have in fact closed. But this isn’t a sign of an incoming collapse. Store closures in retail are totally normal. They happen for lots of reasons—rising rents, shifts in where customers are shopping, or local underperformance.
For example, in Chicago, the TJ Maxx on Canal Street closed in early January 2024. That spooked a few people, because it was a well-known location. But even with that store gone, Chicago still has six other TJ Maxx locations. Marshalls also has several spots in the area. So instead of being about ending business in the city, these closures look a lot more like a fine-tuning of real estate—figuring out which spots are actually pulling their weight.
Companies often close underperforming sites to focus on locations with better traffic or sales. It’s part of keeping the brand healthy. It’s not a red flag for the entire chain’s future.
Marshalls and TJX: Still Opening New Stores
This is where all the doom-and-gloom talk about Marshalls closing falls apart. While some stores are closing, TJX Companies has been opening new ones—sometimes even in neighborhoods or cities where other big-name retailers are calling it quits.
Earlier this year, TJX said they planned to open hundreds of new stores in the near future. For a company to have that kind of ambition, you need confidence in your business model and solid financials. And they’re following through. It’s become pretty common, actually, to see empty storefronts at shopping plazas suddenly open up as a new Marshalls or TJ Maxx.
The company’s leaders see a growth opportunity as other big-box retailers shrink or disappear. When a mall anchor store goes bankrupt, that space sometimes becomes a Marshalls. The logic is simple: more people are looking for bargains, and Marshalls’ business model delivers exactly that.
If you check TJX’s investor statements, you’ll also see they’re not just filling gaps left by others. There are plenty of new markets where they’re opening their first locations—places that might have been overlooked by old-school department stores.
Business Challenges: What’s Being Reported?
If you read enough business news, you’ll spot some stories about “Marshalls PLC” facing declining revenues. This can get confusing, but it’s not the same Marshalls that runs those discount retail stores in the U.S. The American Marshalls is part of TJX Companies, as we’ve been discussing.
Even so, it’s fair to point out that the whole retail sector has been feeling the pinch. Headlines mention things like “revenue decline” or “weak demand” in 2024, and Marshalls hasn’t been immune to that. Sales growth has slowed in some categories, and inflation has made it harder for families to stretch their budgets.
For a while in early 2024, TJX noted a small dip in certain areas, but nothing outside of expectations. In fact, leadership said they still expect profits to land in the range they predicted before the year started—and they weren’t forecasting a disaster. That kind of steady guidance is usually a good sign. They’re not promising runaway growth, but they’re not warning about deep trouble either.
Store Turnover: Normal in Retail, Not a Crisis
If you look across all of retail, you’ll see that closures and openings are a natural part of the game. Marshalls isn’t alone here. Even grocery chains and pharmacies—businesses that most folks think are “safe”—occasionally shut down certain locations to cut losses.
What stands out with Marshalls and TJX Companies is how they’re able to take advantage of these shifts. When vacancy rates climb, they often work out favorable leases for new stores. You see Marshalls popping up in plazas where other retailers took a beating during the pandemic or started scaling back.
This flexibility gives Marshalls a big edge. It means customers keep seeing those familiar blue-and-white signs popping up, even when some malls feel a lot emptier than they used to.
The Discount Store Strategy
Part of what’s helping Marshalls keep momentum is their approach to retail. The “off-price” model—think treasure hunt shopping, unpredictable inventory, deep discounts—is working for shoppers who are price sensitive. Today, with inflation putting pressure on families, more people are passing on full-price department stores and heading for stores like Marshalls instead.
The format also allows Marshalls and TJ Maxx to buy excess inventory from other retailers at lower prices. Then they sell it for less than you’ll pay at specialty or department stores. In a period where nearly every part of the retail industry has been challenged, this value-focused model looks a lot more appealing than it did five or ten years ago.
Comparing Marshalls to the Rest of Retail
If you compare Marshalls to the whole industry, you’ll find the discount segment is full of survivors. Stores like Ross, Burlington, and TJX Companies’ brands have been weathering the storm much better than traditional department stores or specialty clothing chains.
While names like Bed Bath & Beyond, Lord & Taylor, and Sears have gone under or shrunk dramatically, TJX continues opening new spots. So if you hear about Marshalls or TJ Maxx closing a few stores, it’s not a warning sign of collapse. Instead, it fits the ongoing trend where discount stores are taking space lost by others.
There’s also a lot of evidence showing consumers prefer hunting for bargains and unique finds, rather than predictable racks at the department store. This trend has only gotten stronger post-pandemic.
If you’re interested in how retail chains are adapting—and what might be next—you can find a lot of straightforward analysis on Blue Business Mag, which covers this kind of move across a bunch of chains.
What Does This Mean for Shoppers?
So if you love finding surprise deals at Marshalls, don’t worry about them closing up shop. The odds are good you’ll see more stores opening in more places over the next few years. Expect a shifting lineup as the company tinkers with what locations work best, but the overall plan is growth.
It might mean you have to drive an extra ten minutes if your local store closes, but odds are another one’s not far away. Adding in the ongoing pressure on other retailers, you may even find a new Marshalls in a spot you didn’t expect.
You might also notice some changes in the types of inventory on the shelves. With more retailers struggling, Marshalls can pick up big lots of brand-name stuff at a discount, which can sometimes mean better deals for shoppers.
The Bottom Line: Marshalls Is Here to Stay
When you add everything up—store openings, a healthy parent company, ongoing demand for value, and response to industry shifts—the evidence is strong. Marshalls isn’t shutting down. Some stores are closing, sure, but it’s all part of keeping things efficient and finding the next best spot.
So if you see a “store closing” sign at one Marshalls location, it’s not a sign that the whole brand is at risk. Check your next shopping plaza or neighborhood strip mall—there’s a good chance a Marshalls is still going strong, or there’s a new store coming soon.
At the start of summer 2024, Marshalls continues to operate hundreds of stores across the country, with more planned for the future. Shoppers can expect to keep hunting for those deals for the foreseeable future. That’s about as stable as retail gets these days.
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