TK Maxx to extend presence in the UK as sales grow

TK Maxx is preparing to open 18 stores throughout the UK and Ireland by the end of January 2015, as TJX Europe, parent company

of TK Maxx reports a 6 percent sales jump during its second quarter.

According to TJX Companies latest financial report, European like-for-like sales grew 6 percent to August 2, with net sales of 954 million dollars, or 575 million pounds according to current exchange rates.

The discount retailer opened stores in Basildon, Hull and Bishop Auckland last week and is set to open a 17,747 square foot store in Westfield Stratford on September 4, as part of its ongoing expansion plan.

At the end of its second quarter, TJX Europe reported a total of 291 TK Maxx stores within the UK and Ireland, and announced plans to increase the number of stores to 309 by the end of its financial year.

The company also revealed plans to open its first stores in Austria during the first half of 2015.