Hobbs enjoys 14.3 per cent spike in quarterly sales

International and online growth helped drive Hobbs‘s positive growth over the Christmas trading quarter, where the womenswear retailer recorded a 14.3 per cent year-on-year spike in total sales.

The retailer added that like-for-like sales grew by 3.9 per cent for the 13 week period to December 31, while online sales was up by 26.7 per cent and international sales up by 97.9 per cent.

The significant international growth has been attributed to Hobbs‘ expansion US department store chain Bloomingdale‘s plus the opening if its first stores in New York and Germany.

Meanwhile, in the three weeks running up to Christmas, total sales went up by 27.2 per cent and like-for-likes were up 16.1 per cent.

The retailer’s trading update comes less than a week it was revealed its parent company 3i planned to sell the chain for £80 million.

READ MORE: 3i set to offload Hobbs for £80 million

“We have been pleased with strong trading throughout the Christmas period as our ranges continue to reflect what our customers love about Hobbs,” chief executive Meg Lustman said.

“This is a result of the hard work by the whole team as we develop our strategies to delight our customers by improving both what and how she buys.

“Our international store portfolio has continued to develop and we are encouraged by customers‘ reactions to the Hobbs proposition in new markets.

“Whilst market conditions in the UK are forecast to remain challenging for the year ahead, we are confident that Hobbs is well-positioned with a clear strategy and a pipeline for growth.”

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