Hobbs will try US for size

WOMEN'S fashion chain Hobbs will bring some cheer to a gloomy High Street tomorrow when it announces a record set of results and ambitious international expansion plans.

The retailer, which completed a £111m sale to management and private equity group 3i last year, will unveil profits up 38% to £11.7m for the year to January 29 on turnover up 30% to £67m. Managing director Nick Samuel said: 'The retail trading environment continues to be challenging, but we're confident of another year of progress.'

He said much of the success was due to the company becoming more commercial than it had been under the previous family ownership.

'We put in up-to-date systems and easily definable targets to motivate staff,' he said. 'The environment changed with the ownership and we are sharing the rewards. It has brought new energy.'

As well as enlarging the business to 90 branches by the end of the year from the current 66, Hobbs is set to expand overseas with plans to open in America and Kuwait.