TK Maxx owner sees like-for-like sales rise

TJX Europe, which owns retail brand TK Maxx, reported that in the three months to May 1st its like-for-like sales increased by one per cent.

Drapersonline.com reported total sales at the company's European stores came in at £360.3 million and the firm's parent company, TJX Companies, managed sales of £3.5 billion and a gross-profit rise of 27.3 per cent.

TJX Companies president and chief executive Carol Meyrowitz said that she is happy with the performance and added that the company plans to heighten its marketing campaigns.

"The momentum in our business was driven by continued increases in customer traffic, reinforcing the appeal of our great values and indicating to us that consumers will remain focused on value in both weak and strong economic environments," she stated.

People looking for retail sales jobs were further bolstered by the news that online sales of clothing, footwear and other retail items rose by 21 per cent year-on-year in April, according to a recent IMRG Capgemini e-Retail Sales Index.

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Posted by Nikki Barrister

Filed: 25-05-2010