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Exclusive: Footwear orders frozen at TK Maxx

TK Maxx has placed a temporary embargo on footwear after bad weather and poor sales left the off-price retailer overstocked.

Sources told Drapers that footwear buyers had been placed on an ordering freeze until further notice.

Although the length of time of the embargo is unclear, one source indicated it could be as long as a month.

“They have got loads of stock that they haven’t been able to shift because of the bad weather so the buyers have effectively been told to go on holiday for a month,” he said.

Another source said buyers had “done some big deals before Easter, which took all their budgets”.

It is thought the temporary buying ban only applies to footwear and does not include the retailer’s clothing departments.

TK Maxx owner TJX Companies reported a 62% drop in pre-tax profits to £35.4m at its UK operation in the year to January 28, 2012.

Sources indicated that this year’s sales have also been weak.

TK Maxx declined to comment on the footwear embargo.

Readers' comments (1)

  • Across the board there are freezes on buying at T k.

    also apparently Sports Direct are on hold till July.

    its is the market place--weather/economy--no disposable income left with the general public.reality!!!!

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