Hobbs news and archive

Hobbs reveals operating loss of 3.8 million pounds

Women’s fashion retailer Hobbs reported a turnover of 132.6 million pounds for the 14 months to March 31, 2018 compared to 109.8 million pounds in the 12 months to January 28, 2017 with headline gross margin for the year at 63.3 percent compared to 63.4 percent in the prior year. Meanwhile, it was announced that Meg Lustman, Hobbs’ CEO is...

Management

TFG London reports strong H1, announces senior executive changes

TFG London, the owner of premium British brands Phase Eight, Hobbs, Whistles, Damsel in a Dress and Studio 8 said in its interim financial results for the six months to September 30, 2018, that the company reported sales of 200.4million pounds (252 million dollars) compared to 133 million pounds in the same period last year. After the...

Report

The Foschini Group to acquire Hobbs

British womenswear brand Hobbs, which was scouting for a buyer has found one in South African retailer The Foschini Group (TFG). TFG London, which acquired Britain's Phase Eight in 2015 and high-street fashion retailer Whistles last year, will buy Hobbs for an undisclosed amount, reports Moneyweb. Hobbs posted an 8.7 percent rise in its full...

Report

Hobbs' turnaround effort boosts annual sales and profit

British fashion chain Hobbs has reported an 8.7 percent rise in its full year gross profit to 76.2 million pounds, while the company’s sales increased 9 percent to 119.5 million pounds, reports The Times. Since the end of the year, the company’s sales have witnessed an increase of over 7 percent and earnings have improved 139 percent, the report...

Report

Hobbs holiday sales witness a 14.3 percent growth

British women’s fashion brand Hobbs has said that its sales for the 13 weeks ended December 31, 2016 increased 14.3 percent with Solus store sales up 3.9 percent on like-for-like basis. Online sales were up 26.7 percent, while international sales rose 97.9 percent. The company said trading margins also improved by 1.1ppt. “We have been pleased...

Report

Hobbs owner 3i reportedly prepares to offload the retailer

London - Private equity group 3i is said to be preparing women’s wear retailer Hobbs for sale. The premium label, a favourite of the Duchess of Cambridge, could sell for as much as 80 million pounds, according to a report from the Sunday Times. 3i is said to be close to hiring investment banker NM Rothschild to oversee the sale, after owning the...

Report

Hobbs posts 18 percent increase in full-year EBITDA

Announcing its results for the year ended January 30, 2016, Hobbs said that while total sales decreased from 116.6 million pounds (153.3 million dollars) in 2015 to 109.9 million pounds (144.4 million dollars), EBITDA improved 18 percent to 7.7 million pounds (10.1 million dollars). Commenting on the results, Meg Lustman, CEO of Hobbs said, “It...

Fashion

Hobbs teams up with Bloomingdale's to enter the US market

British fashion retailer Hobbs London has teamed up with department store group Bloomingdale's to make its first entry into the US market. This week saw the opening of Hobbs first US store in Bloomingdale's 59th Street store in New York, the first of a series of shop-in-shops to be opened across the country. Nicky Dulieu, departing chief...

Fashion

Equity turns fashionable

From investment banks to social networks gurus, all of them have something in common: their interest in fashion. Money has always been fashionable, but investing in something more than a covetable wardrobe is turning to be a trend that arrived to stay.Even more equity and investment firms are looking for opportunities to enter the fashion...