Homesense UK sales edge towards £280m

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

According to its latest filed accounts for the year ended 28 January 2023, total sales rose 17.5% to £3.8bn from £3.3bn in 2022, further adding to its growth of 45.2% from £2.2bn in 2021.

Homesense sales increased 1.4% to £274.4m from £270.6m, adding to its growth of 39% from £194.6m, while TK Maxx saw revenues rise 19% to £2.5bn from £2.1bn.

Pre-tax profit resulted at £172.4m, significantly improving compared to its profit of £14.4m recorded the previous year.

Stated within its report, the group said that like-for-like store sales rose 17.4% and that profit includes a one-off exceptional item of a £58.8m credit relating to a refund licenses agreement with the HMRC to a subsidiary company that were paid for 2021.

One Homesense store was opened in the year, with the brand operating from 76 stores across the UK, with some co-located with TK Maxx.

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