Hobbs to open new stores following closures
Hobbs is set to open in a number of new locations, despite the recent closures of some of its stores.
The fashion retailer will open seven new stores this year, including in Watford, Canary Wharf, and at the Trafford Centre in Manchester, The Times has reported.
This comes despite recent closures in London’s Bloomsbury, Victoria, and Islington.
The retailer is also planning to expand its international footprint, with openings lined up in Hong Kong, Cork, Hamburg, and Westchester, New York.
TFG London, which owns the Hobbs brand alongside Phase Eight and Whistles, recently recorded a strong financial performance for the year ending 25 March 2023, despite a “challenging economic background”.
The group revealed its pre-tax profits had more than doubled to £6.2m during the year, up from £2.97m. Sales also increased by 8.9% year-on-year to £377.7m.