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34 Paul Sweetenham

President, TJX Europe

Paul Sweetenham tumbled down the Power List rankings last year, as brands tightened up on stock control. This year he has climbed up again, thanks to a strong second quarter and industry sources saying like-for-likes are on the up. In the first quarter, TK Maxx parent company TJX Europe slipped into the red to the tune of $27m (£16.6m), versus a profit of $7m (£4.3m) in the same quarter last year. But in August it tripled its profits in the second quarter to $7.3m (£4.5m). Increased investment in marketing and advertising aims to raise TK Maxx’s profile.

Last year’s position 37

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