Discount retailer TJX UK has announced its results for the 52 weeks up to the end of January and is clearly bouncing back from the pandemic, despite the latest accounts including some periods of Covid-linked store closures. 

The company, which operates the TK Maxx and Homesense stores, said that turnover rose to £3.3 billion from £2.2 billion a year earlier. That was a 45.2% increase and more than made up for the 34.6% drop that it had seen in the previous year as the pandemic impacted the business.

Gross profit rose to £492.3 million from £115.3 million. Pre-tax profit was £14.4 million, a swing from a loss of £255.7 million. Also encouraging was the fact that the company made a net profit of £24.5 million in the latest year, bouncing back from a loss of £205.9 million in the previous year.