Womenswear retailer Hobbs returns to profit

Upmarket womenswear retailer Hobbs, which counts the Duchess of Cambridge as a fan, has returned to the black and increased sales, according to new accounts.

The chain, which was founded in Hampstead in 1981, said it had a “strong performance” in the year to March 30 when there was a “challenging retail environment”.

Turnover edged up to £135.4 million from £132.6 million in the prior 14 months, boosted by a number of new concessions opening. Today Hobbs has 172 concessions and 77 standalone stores across the world.

Hobbs also saw online sales improve.

The firm made a pre-tax profit of £6 million, compared with a loss of £4.7 million previously when Hobbs incurred a number of corporate costs relating to its 2017 sale to South African firm The Foschini Group.

Hobbs’ strategic report said: “We will continue to invest in the development of unique clothing and accessories for our customer base.”