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TJX group celebrates a strong quarter all round


Edward Perkins / Retail Gazette

TJX group, owner of TK Maxx and HomeSense has reported increased sales and market share growth in its first quarter of the year.

The US-based home and fashion retailers posted a 7% rise to $7.5bn in total like-for-like store sales in the quarter to April 30.

TJX’s UK and international businesses saw a like-for-like sales increase of 4% to $981m. As its largest international sector, TK Maxx stores in the UK grew from 456 to 471 and HomeSense also added 41 locations to its estate.

TJX Chief Executive and President Ernie Herrman said: “It is great to start 2016 with such a strong quarter. We are particularly pleased with our very strong customer traffic, which drove the increases at every division.

“This tells us that our strategies to bring consumers exciting values on an eclectic and ever-changing mix of the right fashions and brands, sourced from across the globe, are working.

“We are confident that we are growing our customer base and gaining market share. We see many opportunities in the US and internationally for continued successful growth.

“We are extremely focused on achieving our goals for 2016 and motivated to surpass them. TJX has an exciting future ahead, and we have a strategic long-term vision to grow to be a $40bn company and beyond.”

TJX recently announced a 4% like-for-like growth across its international arm for the full year to 30 January in its preliminary results.

Published on Tuesday 17 May by Talya Misiri

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