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TK Maxx owner sees sales rise 6% as shoppers bag a bargain

TJX Companies, the US owner of TK Maxx, reported a 6% rise in sales to $6.9bn (£4.5bn) for the three months to May 2 as consumer demand for discounted products increased.

Like-for-like sales rose 5% at the group, which owns 416 TK Maxx stores in Europe. TJX operates 3,441 discount stores across the US, Canada and Europe.

Chief executive Carol Meyrowitz said: “our outstanding values and exciting mix of apparel and home fashions continue to resonate with shoppers across all of our geographies. Comparable sales were almost entirely driven by consumer traffic, and we had a significant increase in units sold.”

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