Cutting price chain, which recovers additional inventory from other retailers, ranks sixth in the British fashion market
First on Saturday, September 12, 2020 at 08:00 CEST
It has quietly outperformed Topshop to become the sixth largest fashion organisation in the UK. Now, TK Maxx expects an overabundance of uns sold clothing from his rivals to increase his fortune.
The U. S. retail organization has not been able to do so. But it’s not the first time Discounted sells an eclectic combination of a Moschino neck jacket for $99. 99, a Gucci bag for approximately 1,000 and Sloggi panties for $2. 99. You can only buy one or two pieces of each taste or some pieces of good looking primary brands or household items, but the low attached value (the Gucci bag is 450 euros less expensive than its retail value) are the key to its appeal.
Loved by low-priced hunters, TK Maxx basically takes seasonal items that branches, brands and retail chains haven’t sold. This inventory comes from another 21,000 resources worldwide and is basically over-production, canceled orders, or excess inventory. A small amount. it is specially made for the chain through brands or for its own brands, which come with Arabella, Addison and Amaryllis.
“We are confident that the combine at this time of year will be very exciting,” says Deborah Dolce, director of owners for TJX, a European division, as she looks up the tracks at the group’s new store in Uxbridge, West. London. “Because we buy with agility, we can react to the actions of the market. “
She says the organization is not only for earning fashion stocks, but also temporarily moves to the most popular categories (lately beauty, household items and children’s clothing) to meet demand.
Store managers replace your store design as you replace inventory, with all shelves on wheels so shelves can be enlarged or reduced based on what happened in the last shipment. There’s no shop, everything goes to the workshop.
TK Maxx’s tactic of buying few products also allowed it to maintain strict control over its inventory while the number of buyers was low and accumulate sources as buyers have become safer.
In the month between the reopening of retail outlets in July, when the maximum closure of major streets ended, and on 1 August, sales of the group’s foreign division, which is largely made up of its UK operations, but also includes retail outlets in Germany, Ireland, Poland, the Netherlands and Australia fell by 1% year-on-year. The British company, the only one in Europe that has an online store, behaved better, Dolce said, did not give accurate figures.
Pizza Express – 1,100 jobs 7 September: The restaurant chain confirms the closure of 73 establishments as a result of a rescue restructuring agreement.
Costa Coffee – 1,650 jobs September 3: The company, acquired through Coca-Cola two years ago, is cutting up to 1,650 jobs in its cafes, or more than one in 10 of its workforce.
Pret a Manger – 2,890 tasks August 27: Most cuts are concentrated in workers in sandwich chain workshops, but 90 positions will be lost on their core teams. The cuts come with the cuts of 1000 tasks announced on July 6.
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WH Smith – 1,500 jobs 5 August: The chain, which sells products ranging from sandwiches to stationery, will eliminate jobs basically at UK gas stations and airports.
Dixons Carphone – 800 jobs August 4: Electronics store Dixons Carphone is cutting 800 executives at its retail outlets as it continues to cut costs.
DW Sports – 1,700 jobs at risk August 3: DW Sports enters management, finishes its online retail page and risks closing its 150 gyms and stores.
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Ted Baker – 500 jobs 19 July: About two hundred jobs at the headquarters of the fashion store in London, the ugly Brown building and the rest in the shops.
Azzurri – 1200 jobs July 17: pizzeria chain owner Ask Italian and Zizzi closes 75 restaurants and delivers his Pod lunch
Burberry: 500 jobs worldwide July 15: The total includes 150 jobs at UK headquarters, as the luxury logo tries to reduce prices by 55 million pounds after a drop in sales due to the pandemic.
Boots: 4,000 jobs nine july: Boots eliminates 4,000 jobs, or 7% of its workforce, through the last 48 optics and cut-off outlets at its Nottingham headquarters, as well as some in-store visitor service and checkpoints.
John Lewis – 1,300 jobs July 9: John Lewis announced plans to permanently close 8 of his 50 retail outlets, adding full branches in Birmingham and Watford, with the most likely loss of 1,300 jobs.
Celtic Manor – 450 jobs July 9: Sponsors of Newport’s Celtic collection, which hosted the 2010 Ryder Cup of Golf and the 2014 NATO Conference, said 450 of their 995 would lose their jobs.
Pret a Manger: 1,000 jobs July 6: Pret a Manger will have to permanently close 30 branches and could eliminate at least 1,000 jobs after suffering ”significant operating losses” after Covid-19 close
Casual Dining Group – 1,900 jobs July 2: The owner of the Bella Italia, Café Rouge and Las Iguanas restaurant chains collapsed in administration, with the early loss of 1,900 jobs. the business still that buyers wanted to obtain all the existing sites and that 91 of its 250 points of sale would remain permanently closed.
Arcadia – 500 jobs July 1: Arcadia, the troubled organization of Sir Philip Green – owner of Topshop, Miss Selfridge, Dorothy Perkins, Burton, Evans and Wallis – said in July that 500 jobs at the headquarters of 2500 would be eliminated in the coming weeks.
SSP Group – 5000 jobs 1 July: The owner of Upper Crust and Caffe Ritazza will eliminate 5,000 jobs, or almost part of their workforce, with cuts to their heads and operations in the UK after the pandemic blocked domestic and foreign travel.
Harrods – 700 jobs July 1: Branch organization is cutting one in seven out of its 4,800 workers due to the “continuous impacts” of the pandemic.
Harveys – 240 jobs June 30: Administrators made 240 layoffs on the Harveys furniture chain, with more than 1,300 jobs at risk if a client is found.
TM Lewin – 600 jobs June 30: ShirtmakerTM Lewin has permanently closed its 66 outlets, with the loss of around 600 jobs.
Monsoon Accessorize – 545 jobs June 11: Fashion brands were bought from management through founder Peter Simon in June in a deal in which 35 retail establishments closed permanently and 545 jobs were lost.
Mulberry – 470 jobs June 8: The fashion logo and luxury accessories will cut 25% of its overall and has started a consultation with the 470 employees at risk.
The Restaurant Group – 3,000 jobs June 3: owner of restaurant chains like Wagamama and Frankie
Clarks – May 900: Clarks plans to eliminate 900 jobs internationally as he struggles with the expansion of online footwear shopping as well as the pandemic.
Oasis and Warehouse: 1,800 jobs April 30: Fashion brands were purchased through Hilco’s corporate restructuring in April, with all outlets permanently closed and 1,800 jobs lost.
Cath Kidston – 900 jobs 21 April: More than 900 jobs were eliminated without delay at the outdated retail brand Cath Kidston after the company announced the permanent closure of the UK’s 60 stores.
Debenhams – 4,000 jobs April 9: At least 4,000 jobs will be lost at Debenhams at its headland and outlets closed after its collapse under management in April, for the time being in a year.
Laura Ashley – 2,700 assignments March 17: Laura Ashley collapsed into the administration, with 2,700 lost tasks, and said rescue negotiations had been thwarted by the pandemic.
Overall, sales in the department abroad fell 31% to $880 million (690 million pounds) in the 3 months prior to August 1 and fell to a loss of $131 million from a profit of $50. 4 million at the same time last year. The main stores of the chain were forced to close the pandemic.
However, the British branch proved to be more resilient than many competitors. As Debenhams, House of Fraser and John Lewis permanently close establishments, TK Maxx continues to seek to expand, mainly through its Home Sense chain of household items, adopting the same “opportunistic” tactics in the market. genuine property that with fashion. ” We see this as a fashion edition of the branch,” Dolce says.
The group, founded under the name TJ Maxx 43 years ago in Massachusetts and now indexed on the New York Stock Exchange, was introduced as TK Maxx in the UK in 1994 with a store in Bristol.
While many fashion corporations for customers have declined, TK Maxx’s sales have increased by more than 30% since 2016, and additional expansion is expected to be announced next February, when the company presents its UK figures at Companies House.
During this period, it opened forty-five TK Maxx outlets and nearly 40 other retail outlets on the Home Sense line to build a portfolio of 427 retail outlets in the UK, adding up to 349 from its main chain. reopened since closing, adding two new outlets in Uxbridge and York.
“Alongside Primark and JD Sports, TK Maxx has been one of the winners in attire for more than five years,” says Patrick O’Brien of GlobalData Retail Analysts. “He benefited from a focus on brands and the fact that he was able to neutralize agreements in an era of massive discounts, when many stores were oversteered. Brands that didn’t necessarily need things to happen to TK Maxx had to be rethinked.
“It’s not cheap in Primark, but there’s a price in terms of what you think you get for the money. “
He says the company has struggled to move its “treasure hunt” online, which can complicate life to the current coronavirus crisis, but with only 16% of estimated sales over the Internet, it still has a good chance of growing there. .
Dolce says TK Maxx buyers are willing to queue outdoors at points of sale because it implements social estating, because economic pressures mean there is even more appetite for a possible agreement.
“The real opportunity for this company is that the price search is very, very strong. People will pay attention to cash after living in 2020. They don’t need to compromise on quality, so they’re looking for the price and that’s our offer. “on target,” he says.
Some outlets get daily deliveries during peak periods, but at most get deliveries two or 3 times a week, so contact staff to locate the main points in your space. Offers.
TK Maxx fans say it’s better to keep your brain open and make a smart deal when you see one, than to look for a specific item. But think about what you might pay for this item elsewhere and if you get an intrinsic quality or label you’ve never heard of.
The product comes from all over the world and the size would possibly vary by brand, so take a tape measure while the testers are closed under the locking measures Covid-19. Si has a size, you may find it less. It’s hard to find a smart offer.
If you’re only interested in designer brands, head to the hundred retail outlets with premium Gold Label sections or take a look online. Super-reduced price hunters look for liquidation stickers, while environmentalists can donate old garments to gain cancer research UK advantages in store containers.
If you think you need something, don’t leave it on the rails while you think, as there may only be one of those pieces in the inventory that won’t be replenished.