TK Maxx is to open 35 stores across Europe this year, including 10 in the UK and Republic of Ireland.
TK Maxx, which has 225 shops in the UK, said it believed there was potential for up to 275 UK stores and that is planned to take advantage of the weak property market. It added that it would also relocate some of its smaller shops to larger sites.
It also has nine stores in Germany and plans to add 15 more in the territory this year. The discount chain said it believed the German market could support a chain of between 250 and 300 shops.
It will also open three stores in Poland this year, a new market for the retailer.
Paul Sweetenham, senior executive vice president, group president of TK Maxx parent company TJX Europe, said: “Consumer demand remains very strong for our unique off-price concepts and great brands at excellent values. We are outperforming our expectations, even in today’s challenging retail environment.”
The expansion plans will see a change in TK Maxx’s distribution infrastructure, which will see its distribution facility in Milton Keynes in 2010. This is likely to affect around 100 jobs but the retailer said that 175 new jobs would be created at its other facilities in Wakefield, Stoke and Walsall.
Across the group and its stores expansion plans will create around 650 new jobs in the UK and Republic of Ireland overall.
In addition TK Maxx will open a new distribution facility in Poland to support its European expansion plans. This will create more than 100 jobs.
Sweetenham said: “We believe that the actions we are announcing today position TJX Europe well for growth. The decision to close our Milton Keynes Distribution Centre, although very difficult to make, was a necessary one. I offer my sincere thanks to those associates affected by this action for their hard work and dedication.”