| Type | Private |
|---|---|
| Founded | 1912 |
| Headquarters | Liverpool |
| Number of locations | 52 |
| Key people | Sue Tennant (Chief Executive) |
| Industry | Retail |
| Revenue | ▲£239.5 million (2007)[1] |
| Operating income | ▲£5.1 million (2007)[1] |
| Profit | ▲£2.9 million (2007)[1] |
| Owner(s) | PPM Capital |
| Employees | 1725 (2006) |
| Website | http://www.tjhughes.co.uk |
T J Hughes is a discount department store founded in 1912 in Liverpool, England.[2] The retail chain trades from 1,800,000 square feet (167,000 m2) of retail space and have 49 department stores throughout the United Kingdom[1], specializing in home and fashion, fragrance and cosmetics.
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History
Originally Thomas J Hughes set up a small shop on Liverpool's London Road. The store had a few assitants and TJ Hughes was the main shopkeeper overseeing everything within the business. In 1925, the large department store group Owen Owen, saw the need to move out of there Audbrey House site on London Road into the new centre of Liverpool at Clayton Square. The building was put up for sale. But didn't get sold, as the then chairman of Owen Owen, Duncan Norman, went to see T J Hughes shop. He was so impressed that he agreed to let T J Hughes run and expand his business, in Audbrey House, for part ownership of the business under Owen Owen. And so T J Hughes became a department store. The business was expanded by Owen Owen until being sold in the 1980's. Owen Owen later went on to purchase Lewis's, another Liverpool department store.
The company floated on the London Stock Exchange in 1992, and was acquired by JJB Sports in 2000 for £42m, ahead of a £56m buyout backed by PPM Capital in 2002.[3]
Sales strategy
In December 2005, TJ Hughes launched an online store through ebay, with ebay claiming that the retailer was the first in the UK to sell its main products through the auction site. The store launched with 110 lines including DVD players, digital cameras and perfumes. TJ Hughes said its eBay shop represented an opportunity to increase sales and brand awareness.[4]
One of the retailer's advertising tactics was to feature relatives of famous celebrities in their advertisements. For example, they used Manchester United FC superstar Wayne Rooney's brother (Graham Rooney) as part of an advertising campaign.[5]
Financial success
TJ Hughes have seen gross profits soar almost 50% a year, from £3.6m in 2003, increasing to £7.9m in 2004[6] with an impressive jump to £12m in 2006.[7] Throughout 2007, TJ Hughes's pre-tax profits were £5.1 million in the year to January 26, up from £1.2 million the year before. Operating profit soared 299 per cent to £2.9 million.[1]
Criticism
TJ Hughes were fined £2,056 in 2006 when a sales assistant sold knives to a 14 year old who was sent into the shop to attempt to purchase the item. A subsequent investigation showed the company did not have the necessary procedures in place to prevent the sale at the time. The fine would have been greater if TJ Hughes had not pleaded guilty.[8]
References
- ^ a b c d e "TJ Hughes grows again after fourfold profit rise". Retail Week. 2008-07-31. http://www.retail-week.com/News/2008/07/tj_hughes_grows_again_after_fourfold_profit_rise.html. Retrieved 2008-10-18.
- ^ TJ Hughes About Us
- ^ "PPM sells Oasis as it grabs TJ Hughes in £55m deal". Telegraph. 2003-11-15. http://www.telegraph.co.uk/finance/2869132/PPM-sells-Oasis-as-it-grabs-TJ-Hughes-in-55m-deal.html. Retrieved 2008-10-18.
- ^ "TJ Hughes opens eBay shop". Telecomworldwire. 23 December, 2005. http://findarticles.com/p/articles/mi_m0ECZ/is_/ai_n15971518. Retrieved 2008-12-06.
- ^ TJ Hughes sign Graham Rooney for advertising
- ^ T J Hughes at Buyout Track
- ^ T J Hughes at Profit Track
- ^ "T J Hughes fined for the sale of knives to minors". Havering. 2006-06-29. http://www.havering.gov.uk/index.aspx?articleid=7019. Retrieved 2008-10-18.
External links
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