TJ Hughes, the well-known high street retailer with Liverpool roots, is actively pursuing expansion opportunities across the UK. This goal comes despite a recent report showing a decrease in annual sales and pre-tax profits. The company's boss, Anil Juneja, who rescued the brand in 2011, remains optimistic about its future growth.
Key Takeaways
- TJ Hughes aims to expand its store network across the UK.
- The company reported a decrease in annual sales to £25.7 million for 2024.
- Pre-tax profits also saw a decline during the same period.
- Anil Juneja, the owner, expressed confidence in the company's future.
- TJ Hughes moved its Liverpool flagship store to Church Street in 2023.
Flagship Store Move and Financial Performance
Two years ago, TJ Hughes relocated its main Liverpool store. The original London Road premises closed, making way for a new, larger location on Church Street. This new site, spanning 70,000 square feet, previously housed H&M. The move was a significant step for the retailer in its home city.
The company currently operates 16 stores nationwide. Its latest financial accounts, for the 12 months ending December 31, 2024, show a dip in performance. Sales reached £25.7 million, nearly £1 million less than the previous year. Pre-tax profits also experienced a reduction.
Quick Facts
- Current Stores: 16 across the UK
- 2024 Sales: £25.7 million
- Previous Year Sales: Approximately £26.7 million
- Liverpool Store Size: 70,000 sq ft
Leadership Optimism Despite Challenges
Anil Juneja, a Liverpool-born wholesaler, acquired TJ Hughes in 2011. At that time, the brand, which once had almost 60 stores, was relaunched through six sites in a deal valued at £2 million. Mr. Juneja's leadership has been central to the company's survival and current strategy.
In the company's annual report, Mr. Juneja stated his commitment to further expansion, even with the recent financial figures. He highlighted the company's return to profitability after the difficult period of the pandemic.
"The results for the year have been encouraging after the difficulties of recent years which were affected by the pandemic, as the company returned to profitability and improved levels of trade," Mr. Juneja wrote.
Continued Store Development
Mr. Juneja confirmed that new stores were opened during the last financial year. He emphasized the ongoing search for additional locations to broaden the company's reach. This indicates a proactive approach to growth, focusing on increasing the physical retail footprint.
Expanding the retail estate allows TJ Hughes to serve more customers across different geographical areas. This strategy is key to their long-term growth plans, aiming to offset any current financial downturns through increased market presence.
Company Background
TJ Hughes was founded in Liverpool. It has been a prominent high street name for many years. The company faced administration in 2011 before Anil Juneja's intervention. His acquisition saved the brand and allowed for its strategic rebuilding.
The retailer is known for offering a range of products, often at discounted prices. This business model has helped it maintain a customer base in a competitive retail environment.
Global Factors and Future Security
Mr. Juneja acknowledged global events as potential challenges. He specifically mentioned the situation in the Middle East, noting its possible impact on the company's trading routes. Such geopolitical factors can affect supply chains and operational costs for retailers.
Despite these external pressures, Mr. Juneja maintained a positive outlook. He expressed confidence in the company's ability to navigate future challenges. His optimism stems from several internal strengths within the organization.
"A combination of the company’s portfolio of diverse market leading brands, along with the control of costs and an enthusiastic dedicated workforce, lead the board to view the company’s future performance to be secure," he added.
Strategic Strengths and Brand Portfolio
TJ Hughes relies on a diverse range of market-leading brands within its product offerings. This variety helps attract a broad customer base. Effective cost control measures are also a core part of the company's strategy, helping to manage expenses in a challenging economic climate.
The workforce is described as enthusiastic and dedicated. This human element is crucial for operational success and customer service. These combined factors contribute to the board's belief in the company's secure future performance.
Wider UK Presence and Parent Company
Beyond Liverpool, TJ Hughes operates stores in various locations across the UK. These include major cities such as Glasgow and Newcastle, as well as towns like Bury, Corby, and Maidstone. This national footprint is important for its overall business model.
The parent company of TJ Hughes is Vision International Holdings, led by CEO Anil Juneja. Vision International Holdings has two main divisions. One is TJ Hughes itself, and the other is Leading Brands 4U, its consumer private label arm.
- North: Glasgow, Newcastle, Bury
- Midlands/South: Corby, Maidstone
- Home City: Liverpool
Vision International Holdings also owns the Lewis’s brand. Lewis's was a historic Liverpool-based department store chain that closed in 2010 after 154 years of operation. TJ Hughes now utilizes the Lewis’s brand for a variety of homeware products. The parent group reported that these Lewis’s branded products had a successful year in 2023, indicating positive brand leverage.
The strategic use of acquired brands, alongside its core retail operations, demonstrates TJ Hughes's approach to market diversification and brand management. This contributes to the company's resilience and future growth potential.