- Total group store sales up 7% for the quarter to April 30
- Like-for-like international sales up 4% to $981m
- TK Maxx stores in Europe increased by 15 units from 456 to 471
TK Maxx and HomeSense owner TJX has posted rising sales across its first quarter as the US-based retailer continues to gain market share.
The discount fashion and homewares group published a 7% increase in total like-for-like store sales to $7.5bn for the quarter to April 30.
In TJX’s international business – which largely comprises the UK – like-for-like store sales increased 4% to $981m.
The UK is the largest international market by far for TJX. The number of TK Maxx stores in Europe increased by 15 units during the quarter from 456 to 471. HomeSense also grew by two units to a total of 41.
In its recent preliminary results, TJX posted 4% like-for-like growth across the full year to January 30 across its international arm.
TJX chief executive and president Ernie Herrman said: “It is great to start 2016 with such a strong quarter. We are particularly pleased with our very strong customer traffic, which drove the increases at every division.
“This tells us that our strategies to bring consumers exciting values on an eclectic and ever-changing mix of the right fashions and brands, sourced from across the globe, are working.
“We are confident that we are growing our customer base and gaining market share. We see many opportunities in the US and internationally for continued successful growth.
“We are extremely focused on achieving our goals for 2016 and motivated to surpass them. TJX has an exciting future ahead, and we have a strategic long-term vision to grow to be a $40bn company and beyond.”