Discount fashion to home chain grows sales 10% to £1.12bn

27th October 2009 | retail | Home and clothing retailer TK Maxx and its sister company HomeSense increased profits 34% to £48.8m in the year to 31st January as sales climbed 10% to £1.12bn.

The company, TJX UK, a subsidiary of US retailer TJX Companies Inc, will further grow its share in the UK homeware market this year as store numbers for its dedicated furnishings chain HomeSense have since doubled to 14.

The retail group, which sells discounted designer goods, also carries a substantial home line in its TK Maxx stores, ranging from furniture to kitchenware and accessories.

In the period since its just filed accounts, European wide sales rose 6% on a like for like basis in the three months to 1st August, and full year sales are expected to grow by between 2-3%.