TK Maxx continued its march on the UK this year as Louise Greenlees expanded the off-price fashion retailer and its homeware counterpart, Homesense, across Europe.
The number of TK Maxx stores in the UK swelled by 14 to reach a total of 337 during the 53 weeks to 3 February 2018. In November, it was reported that the retailer is gearing up to open on London’s Oxford Street next spring, in the former New Look unit.
During its fiscal year, UK turnover was up 10.6% to £2.97bn at TK Maxx and Homesense. The UK arm’s profit on ordinary activities before tax fell 21.8% to £87.1m as staff and IT costs rose.