TK Maxx parent TJX Europe has blamed unfocused buying for a 52% collapse in profits last year, and has bolstered its management and buying teams to turn the off-price retailer around.
Dean Argent, former managing director of footwear chain Envy, joined TK Maxx as shoe buying director last month - the latest in a string of appointments. Louise Koser, a former director at value chain M&Co, was named managing director of TJX Europe’s homes division last year.
Carol Meyrowitz, chief executive of TJX Europe owner The TJX Companies, said: “We’ve injected strong veterans at a high level, and given people smaller jobs. We’re much more country-focused.”