TK Maxx boosts retail presence in response to higher customer demand

Labels-for-less high street retailer TK Maxx is set to open a new Watford store, in addition to its Century Retail Park, at Atria Watford Shopping Centre later this month.

The new store will be home to fashion, accessories, beauty and home, all under one roof. Spanning two floors, the 30,557 square feet space will be packed with designer labels up to 60% less than the retail price.

At the new store, which opens on Thursday 27 July, shoppers can expect several new deliveries each week, offering a revolving display of discount gems.

The retailer has given all its existing associates the opportunity to transfer across to the new store as part of the move as well as offering 50 new jobs for the area.

A spokesperson for TK Maxx, commented: "We are delighted to be opening this new store in Atria Watford Shopping Centre. We wanted to give our valued Watford treasure seekers the best shopping experience possible, as we know how much they enjoy browsing our stores for quality fashion and homeware at incredible prices."

As revenues grow, TK Maxx is also planning further expansion, opening five new stores across the UK by the end of 2023.

In May, its parent company TJX Companies reported that the pretax profit margins for Q1 of fiscal 2024 were up by 10.3%, "well above the company’s plan". Net sales for the first quarter of fiscal 2024 stood at £9.5 billion ($11.8 billion), an increase of 3% year-on-year, driven by an increase in customer traffic.