{"id":162786,"date":"2020-01-07T16:40:05","date_gmt":"2020-01-07T16:40:05","guid":{"rendered":"https:\/\/www.theindustry.fashion\/hobbs-returns-to-profit-under-tfg-ownership\/"},"modified":"2021-08-12T14:06:08","modified_gmt":"2021-08-12T14:06:08","slug":"hobbs-returns-to-profit-under-tfg-ownership","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/hobbs-returns-to-profit-under-tfg-ownership\/","title":{"rendered":"Hobbs returns to profit under TFG ownership"},"content":{"rendered":"<p>Hobbs has <strong>returned to profit and has shown an increase in sales<\/strong> under the ownership of TFG Brands\u00a0(London).<\/p>\n<p><!--more--><\/p>\n<p>The premium women's fashion chain <strong>recorded an operating profit of \u00a36.9m in the year to March 2019<\/strong>, versus a loss of \u00a33.8m in the prior. EBITDA was up to \u00a39.6m from \u00a38.5m.<\/p>\n<p>Sales increased from \u00a3132.6m to \u00a3135.4m which was down to the\u00a0<strong>launch of one new store and 23 new UK concessions,<\/strong> along with 10 new international concessions. It also closed three concessions during the period.<\/p>\n<p>A shift in reporting dates meant that the 2019 results covered a 52-week period against a 61-week period in the prior year. Also in the prior year the company had taken<strong> a hit on \u00a319m of administrative charges<\/strong> relating to its sale, which pushed down its operating profit.<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/hobbs-acquired-whistles-owner-foschini\/\">Hobbs was sold to TFG Brands (London)<\/a>, the UK arm of South Africa's Foschini Group, in November 2017 <strong>by private equity group 3i.<\/strong> TFG also owns Whistles and Phase Eight. The value of the deal was not disclosed at the time but was believed to be in the region of \u00a380m. 3i had paid \u00a3100m for the business 10 years previously.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":133761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[32,30,13787,12468,9660],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hobbs returns to profit under TFG ownership - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Hobbs has returned to profit and has shown an increase in sales under the ownership of TFG Brands\u00a0(London). 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