TJX Europe, the parent company of off-price fashion chain TK Maxx, tripled its profits in the second quarter of 2011 as like-for-like sales in Europe remained stable.

Excluding fluctuations in currency, TJX Europe, which is part of US group TJX Companies, saw profit surge to $7.3m (£4.5m).

Overall sales rocketed 25% to $662m (£404m).

For the 13 weeks to July 30 TJX Companies saw total net sales increase 8% to $5.5bn (£3.4bn) and consolidated comparable store sales increased by 4%.

TJX Europe also operates the homewares chain Homesense.

Carol Meyrowitz, chief executive officer of The TJX Companies, said she was pleased with the performance, which exceeded expectations.

She said: “We believe that this speaks to the consistency of TJX and the great flexibility of our business model, which has enabled us to succeed year after year, through both strong and weak economic environments.

“Customer traffic continues to be up over large increases in the last two years, as our tremendous value attracts new and loyal customers.

“As we enter the third quarter, we see a marketplace full of fabulous brands and fashions and we will be utilizing the flexibility in our inventory position to take advantage of these opportunities.

“In addition, we will be significantly increasing our marketing penetration in the second half of the year, leveraging our marketing spend, which we believe will also draw consumers to our stores.”

TJX Europe ended the quarter with 322 stores in Europe.