Hobbs in confident mood
UK Womenswear retailer Hobbs today said it had started the year in confident mood after an 18.5% increase in sales from September 1 to New Year’s Eve.
The upmarket chain said it enjoyed “particularly strong” sales in November and December – up 27% and 32% like-for-like respectively.
It also saw “significant” margin improvements on the previous year due to a better buying strategy and a reduced level of marked-down items left over from Christmas.
Three new stores opened over the period – in Bromley, Winchester and London - and were performing ahead of expectations, a statement from the privately-owned company said.
Hobbs sells women’s party dresses, workwear and casualwear, shoes and accessories and has 94 outlets nationwide in cities including Cambridge, Sheffield and Leeds.
Chief executive Nick Samuel said the company had been buoyed by the reaction of shoppers to its spring/summer collection, which enjoyed exceptional sales this month despite the cold weather.
He added: “The year has started well and we are confident that 2006 will be a year of significant growth in profits and sales.”
Profits for the year ending January 2006 appeared “on track” with company expectations, Hobbs added. Its results are scheduled to be released in April.
