Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

UK profits fall at TK Maxx

Profits at TK Maxx’s UK division fell 19.6% to £95.8m in the year to 28 January, down from £119.2m the year before, as the retailer battled rising employment costs.

Pre-tax profits at TJX UK, the owner of TK Maxx, the homeware fascia HomeSense and, were also down 21.7%, falling from £142.3m to £111.4m during the period.

UK store like-for-like sales at TK Maxx were up 0.6%.

The company said: “In a challenging retail environment in the UK we were pleased with our results which we believe speak to our resilience and ability to drive sales.”

The figures for the retailer’s UK division have just been published on Companies House. TJX’s global results for the same period were released in February. These results showed profits dropped 6% to $290m (£232m).

TJX has previously said that it sees the longer-term potential to expand to up to 1,000 TK Maxx stores across the UK, Ireland, Germany, Poland, Austria, the Netherlands and Australia. It currently trades from more than 580 stores.


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.