Hobbs is set to open several new stores in more favourable locations, following a string of recent closures.
The fashion retailer, which closed its shops in London’s Bloomsbury, Victoria and Islington in recent weeks, will launch seven stores this year, including in Canary Wharf, Watford and Manchester’s Trafford Centre.
It also plans to open new international shops in Hong Kong, Cork in Ireland, Hamburg in Germany and Westchester in New York, bringing its total number of stores to about 80, The Times reported.
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Hobbs said its property strategy “aims to meet the ever-changing needs of our customers through an improved distribution of stores, not only in the capital but the wider nation, too”.
It comes as Hobbs owner TFG London, which also owns the Phase Eight and Whistles womenswear labels, hailed a strong financial performance in light of a “challenging economic backdrop” in the UK.
The fashion group revealed its pre-tax profits had more than doubled to £6.2m for the year to March 25, 2023, up from £2.97m the year before.
Sales also jumped 8.9% to £377.7m, according to filings at Companies House.
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