TK Maxx is continuing to benefit from its value position with growing like-for-like sales in its second quarter.
The retailer’s US parent company TJX reported that its European division, which includes TK Maxx and home furnishing chain HomeSense, reported a comparable store sales rise of 6% for the three months to August 1.
Net sales were slightly down at $512m (£312.3m) compared with $548m (£334.3) in the same quarter 2009, which the company said is due to poor currency exchange rates.
TJX now predicts like-for-like sales internationally across the group will be up between 2% and 3% for the full year to 2010.
TJX president and chief executive Carol Meyrowitz said: “Our extreme values on exciting brands and fashions continue to resonate with consumers and drive extraordinary increases in customer traffic counts.”
She added: “As we enter the back half of the year, we will continue to plan prudently, but believe we have tremendous opportunities to build upon our strong first half.”
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