TK Maxx’s sales jumped past the £4 billion mark to hit a new high over the course of its last year, the retailer’s latest accounts show.
Turnover climbed by 3.6% over the year to February to £4.03 billion, according to Companies House filing for TJX UK, which is a subsidiary of TJ Maxx and trades as TK Maxx.
Five new stores were opened over the year, including both TK Maxx and sister Homesense sites, taking the company’s total to 432.
Like-for-like sales climbed by 3.0% to £2.67 billion, which was largely driven by an increase in footfall, the company said.
Profit fell over the year from £147.6 million to £102.9 million despite the uptick in sales, which TK Maxx attributed to an exceptional one-off £52.8 million payment a year earlier.
It comes after Massachusetts-based parent company TJ Maxx reported a 9% increase in net sales to US$54.2 billion (£41.7 billion) in its latest year.