TJX Companies, which owns TK Maxx, has recovered from the pandemic-induced losses to generate an impressive turnover of £ 3.3 billion.
A year earlier, the company had made a turnover of £ 2.2 billion. Now that’s a whopping jump of 45.2 per cent.
Notably, the US apparel retailer saw its gross profit rise from £ 115.3 billion to £ 492.3 million. The pre-tax profit was £ 14.4million.
The company made a net profit of £24.5 million, thereby making a grand comeback from a worrying loss of £205.9 million in the year-ago period.
The parent company of TK Maxx made the recovery despite pandemic-induced closures of stores and distribution centres.
The Massachusetts-based firm has over 500 locations all across Europe.
