A recessionary boost for discount retailing has delivered an uplift in sales for TK Maxx.
The retailer’s US parent, The TJX Companies, says that its European division, which includes TK Maxx and HomeSense stores, enjoyed a like-for-like sales rise of 6% in the three months to August 1.
TJX forecasts that full-year group like-for-like sales with increase by between 2% and 3%.
TJX CEO Carol Meyrowitz said that the “results were achieved on top of three years of very strong performance. We saw strength across the board, with virtually all of our divisions either meeting or exceeding our second-quarter targets.”
New HomeSense stores are scheduled to open in the next couple of months in Preston, Romford, Nottingham and Staples Corner in London.