Over the course of the previous year, TK Maxx’s sales surpassed US $ 5.22 billion to reach a new high, according to the retailer’s most recent financial statements.
According to a Companies House report, TJX UK, a division of TJ Maxx that operates under the name TK Maxx, saw a 3.6 per cent increase in turnover from January to February, reaching US $ 5.22 billion.
The company now has 432 locations after opening five new ones during the year, including TK Maxx and sister Homesense locations.
The corporation stated that a rise in foot traffic was a major factor in the 3.0 per cent increase in like-for-like revenues to US $ 3.48 billion.
Despite the increase in sales, which TK Maxx attributed to an extraordinary one-time payment of US $ 68.9 million a year earlier, profit decreased from US $ 192.61 million to US $ 134.28 million over the course of the year.
It follows the announcement of a 9 per cent rise in net sales to US $ 54.2 billion in the most recent year by parent firm TJ Maxx, based in Massachusetts.
