UK: T.J. Hughes Profits Up By 42 Per Cent For Half Year
T. J. Hughes plc, the UK-based quality discount department store operator, has announced that turnover for all stores increased 28.4 per cent to £69.4m (1999: £54.0m) and 'like-for-like' sales improved by 5.3 per cent for the half year ended July 26.The news comes as the discount retailer announced it was to expand its chain of 30 discount department stores into Scotland next year, and expects to have a presence in 200 towns across the UK eventually."Our second half year got off to a good start with overall sales ahead by over 30 per cent and like-for-like sales up by 7.1 per cent. After the short-term effect of the petrol dispute, our sales are coming back strongly. We are confident of achieving a successful outcome for the year to end-January," said George Foster, chief executive.Profits before tax increased to 42.1 per cent to £2.6m and earnings per share increased 41.3 per cent to 6.77p.The retailer continues to expand, with new stores opened during the first half in Boscombe, Crawley, Weston-Super-Mare and Burnley. A further store was opened in Doncaster in September.T J Hughes enters the peak trading season with 948,000 sq ft net selling space in 30 stores - 22 per cent higher than last year.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Rana Plaza four years on – Timeline of change
- Why collaboration is key to fashion supply chains
- Trump and Brexit get a dose of pragmatism
- Industry groups reaffirm commitment to Bangladesh
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- Adidas and Reebok top transparency index
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective