Hobbs news and archive

TFG London secures 90 million pound refinancing

In what has been dubbed as a “significant step forward” in its strategic growth plans, TFG London has announced a successful 90 million pound funding. The group, which owns Hobbs, Whistles and Phase Eight, said that it had secured the refinancing of an existing 60 million pound debt facility on top of an additional 30 million pound, giving it “...

Business

TFG London swings to full-year profit

THG London swung to a profit in its most recent fiscal year as it continued to recover from the pandemic. The company, which owns labels Phase Eight, Whistles, and Hobbs, made a profit after tax of 3.46 million pounds for the year ended March 25, compared to a loss of 0.1 million pounds a year earlier, according to filings at Companies House....

Retail

Phase Eight and Hobbs to open outlet stores in Scotland

The Foschini Group (TFG) brands’ Phase Eight and Hobbs are set to open outlet stores in a dual fascia unit at Caledonia Park, Scotland’s designer outlet village. Scheduled to open in Q4, the duo will be sharing a 3,035 square foot space that will mark the first Scottish outlet for Hobbs’ and the second for Phase Eight. The location will house...

Business

Hobbs partners with supply chain transparency platform Segura

British womenswear brand Hobbs has announced a partnership with Segura, a next-generation supply chain transparency platform, that will see the retailer strengthen its position on ethical trade. The partnership hopes to aid Hobbs in modernising the quality of its supply chain management and help in its mission to implement transparency...

BusinessFeatured

Hobbs swings to full-year loss as pandemic bites

Luxury womenswear brand Hobbs swung to a full-year loss and saw its turnover halve in the 12 months to March 27 as the pandemic took its toll on the business. The British brand’s turnover in the year dropped 51 percent to 65.1 million pounds, with the company citing store closures and a drop in demand for its core product categories such as...

Retail

Marks & Spencer adds Joules, Phase Eight, Hobbs and Seasalt to line-up

Marks & Spencer has reportedly struck deals to add four new labels to its womenswear line-up in the spring. When stores reopen after the UK’s current lockdown is lifted, the high street giant will sell clothes by Joules, Phase Eight, Hobbs and Seasalt both in-store and online, The Times reports. Marks & Spencer chose the brands because they have...

People

TFG London CEO steps down

TFG London CEO Ben Barnett is reportedly leaving the company in June 2021 after fourteen years at its helm. Justin Hampshire, the managing director of Hobbs - one of the group’s brands - has been named as Barnett’s successor, and will also take up the role of group managing director, Drapers reports. Hampshire has been at TFG London since 2016,...

Retail

Four new retailers sign space at Meadowhall as footfall grows

Four new retailers have signed leases at the British Land-owned Meadowhall shopping centre in Sheffield. Swedish lifestyle brand for children Newbie will be opening a 900-square-foot store, one of its first to open in the UK outside of London. Additionally, the Newbie summer bus, which acts as a mobile, digital and social showroom for the brand...

Business

Hobbs reveals operating loss of 3.8 million pounds

Women’s fashion retailer Hobbs reported a turnover of 132.6 million pounds for the 14 months to March 31, 2018 compared to 109.8 million pounds in the 12 months to January 28, 2017 with headline gross margin for the year at 63.3 percent compared to 63.4 percent in the prior year. Meanwhile, it was announced that Meg Lustman, Hobbs’ CEO is...

BusinessFeatured

TFG London reports strong H1, announces senior executive changes

TFG London, the owner of premium British brands Phase Eight, Hobbs, Whistles, Damsel in a Dress and Studio 8 said in its interim financial results for the six months to September 30, 2018, that the company reported sales of 200.4million pounds (252 million dollars) compared to 133 million pounds in the same period last year. After the...

Business

The Foschini Group to acquire Hobbs

British womenswear brand Hobbs, which was scouting for a buyer has found one in South African retailer The Foschini Group (TFG). TFG London, which acquired Britain's Phase Eight in 2015 and high-street fashion retailer Whistles last year, will buy Hobbs for an undisclosed amount, reports Moneyweb. Hobbs posted an 8.7 percent rise in its full...

Business

Hobbs' turnaround effort boosts annual sales and profit

British fashion chain Hobbs has reported an 8.7 percent rise in its full year gross profit to 76.2 million pounds, while the company’s sales increased 9 percent to 119.5 million pounds, reports The Times. Since the end of the year, the company’s sales have witnessed an increase of over 7 percent and earnings have improved 139 percent, the report...