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Sales up for TK Maxx owner

TK Maxx owner, US-based TJX, has reported a 5.3% year-on-year increase in international net sales to $1.28bn (£1.05bn) for the 13 weeks to 3 August.

This comprises off-price retailer TK Maxx in Europe and Australia, and homeware retailer Homesense in the EU.

Group wide like-for-like store sales were up 2% year on year in the second quarter, which CEO Ernie Herrman said was “in line with [its] guidance”.

He added: “Customer traffic drove our consolidated comp store sales and was up at each of our four major divisions.”

The business opened 31 stores in the quarter, bringing the company’s total store count to 4,412 worldwide.

In the six months to 3 August, the group reported a 6% year on year increase in net sales to $19.1bn (£15.7bn) - up from $18bn in 2018 (£14.8bn).

TJX said it maintains its third-quarter and full-year expectations.

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