Sales and margin grow at TJX Companies

TK Maxx’s US parent The TJX Companies grew sales 7% in the year to January 26 2008.
It achieved company-wide turnover of $18.6b and delivered profit of $772m.

The company said that new merchandising initiatives and improved marketing had helped drive customer traffic.

“Our strategies yielded strong operating results and margin growth, even in the challenging retail environment,” said Carol Meyrowitz, president and CEO. “We were extremely disciplined in managing inventories, which gave us the ability to buy into current trends and offer great brands and fashions at compelling values.”

The TJX Companies is the largest homewares and fashion off-price retailer in the world. It trades as TK Maxx in the UK and Europe; TJ Maxx, Marshalls, HomeGoods, Bob’s Stores and AJ Wright in the US; and HomeSense and Winners in Canada.

The company is introducing HomeSense to the UK this year, with a planned opening of five stores.