Discount fashion retailer TK Maxx has revealed its full year results, showing sturdy pre-tax profits and growing sales despite an unsettled time for the fashion sector.

Figures show that the company reported an 11% increase in both profit to £142.3 million and total sales to £2.4 billion.

Also, like-for-like sales grew 4.6% in the 12 months to 30th January, in comparison to the previous year.
TK Maxx have put its success in the period to tighter cost controls, severely reducing expenditure on advertising and store fixtures.

The company has revealed that it plans to open 24 new stores during 2017, having already opened 25 this year.