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Slump sparks buying shake-up at TK Maxx

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.”

Readers' comments (1)

  • I believe the main reason for this collapse is the extremely
    poor shopping experience which one encounters after
    setting foot inside their stores.Apart from myself I know of
    many other people who after one visit vow to forego
    another ordeal.It isn't sufficient just to be cheap!

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