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