By Michael Lieblich2020-03-02T06:30:00
After TJX reported standout results last week, retail analyst Michael Lieblich examines the factorsbehind the success of flagship brand TK Maxx
TK Maxx owner TJX last weekunveiled a record annual performanceas global turnover rose 7% to hit $41.7bn and profits rose by the same proportion to $3.2bn, reinforcing its position as the world’s largest off-price retailer – a category it invented itself and the key to the retailer’s power.
Like-for-like sales at the international division, in which the UK represents 73% of the store count, rocketed 10% in the fourth quarter to reach $1.7bn and over the past year, increasing 8% on a comparable store basis to $5.6bn.
Total profits at the international division, comprising the UK, Austria, Australia, Germany, Poland and the Netherlands, increased 7% to $307m.
