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Chief’s back-to-basics policy pays off at TJ’s
Jul 23 2008 by Barry Turnbull, Liverpool Daily Post
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Chief’s back-to-basics policy pays off at TJ’s
"I think maybe the business had lost its edge and as well as that the discount market has become much more crowded, so it is a tougher environment.
“We definitely needed to get back to basics and that has given us the confidence to go forward."
Deals on lingerie, fragrances and household goods drove earnings forward.
Profits slumped from more than £12m in 2005 to £1.1m in 2006. The figure of £5.1m for 2007 was achieved just six months after Ms Tennant joined. She added: “In the first six months of this year, like-for-like sales are ahead, so the picture is looking optimistic. As for new stores, we are not going to have the attitude of opening stores just for the sake of it.
“We will look to expand but in the right locations and at the right time. If you get a location wrong it can really damage the business, so it’s important to get it right.
“This business has been around for 98 years, and my job is to ensure there is longevity and stability.”
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