Homesense sales rise by over £70m in the UK

The UK division of retail group Homesense and TK Maxx has reported a growth in sales and a return to profit.

According to its latest filed accounts for the year ended 29 January 2022, total sales rose 45.2% to £3.3bn from £2.2bn in 2021.

Homesense sales jumped 39% to £270.6m from £194.6m, while TK Maxx saw revenues increase to £2.1bn from £1.3bn year-on-year.

Gross profit increased from £115.3m to £492.3m, while pre-tax profit resulted at £14.4m, significantly improving compared to its loss of £254m recorded the previous year.

Stated within its report, the group said the increase in turnover was driven by fewer temporary store closures as a result of the Covid-19 pandemic compared to the prior period.

One Homesense store was closed in the year, with the brand operating from 75 stores across the UK, with some co-located with TK Maxx.

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