TK Maxx parent company full-year sales ‘exceed expectations’

TK Maxx

TK Maxx owner TJX has hailed a strong fourth-quarter and full-year results exceeding expectations.

The discount fashion and homeware retailer’s sales were up 7% to $41.7bn (£32bn) during the 52 weeks to February 1.

Sales during the fourth quarter jumped 10% to $12.2bn (£9.4bn) and like-for-like store sales increase 6% during the same period. Net income during the quarter was $985m (£762m).

TJX’s international arm, which includes UK brands Homesense and TK Maxx, posted an 8% increase in like-for-like sales to $5.7bn (£4.4bn).

TJX president and chief executive Ernie Herman said: “In the UK we’re pleased with the continued growth with TKMaxx.com and click and collect.”

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