The parent company of TK Maxx, TJX, has recorded a 5.3 per cent year-on-year increase in international net sales to £1.05 billion ($1.28 billion) in just three months.

The company, which has TK Maxx and HomeSense stores in Gloucester and Cheltenham, recorded the figures in the 13 weeks to 3rd August, as reported by Retail Gazette.

The cut price fashion chain owns TK Maxx in Europe and Australia, and homeware retailer Homesense in Europe. It said group wide like-for-like store sales increased by two per cent year-on-year in its second quarter. It has 4412 stores worldwide.

Punchline said: "This is great news for TK Maxx, a chain which has been really good for the high street in Gloucester. The Northgate Street store was a great replacement for the vacant M&S store."