TK Maxx full-year profits and sales soar

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TK Maxx has reported upturns in both total sales and gross profit for the financial year as it continued to open new stores across the UK.

For the 52 weeks ending February 2, 2019 the off-price retail titan reported gross profit of £464m, up from £422.5m the previous year, and profit before tax of £120.5m up from £87.1m.

The retailer also reported a 6.4% increase in total sales to in excess of £3.1bn, while like for like store sales increased 4% year-on-year.

Profit for the financial period was £103.4m, up from £74.7m the previous year.

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