That stock News

Turnover increase came despite sales and profits fall in the year on January 30, 2010, according to accounts just filed at companies House.

Nicky Dulieu, Chief Executive of retailer said that trade in 2009 was "extremely difficult" in all the détail.Cependant retail sector she said that growth in the year so far is "continue" in spite of sensitive consumer economy.

Ms. Dulieu said that 3i, the private equity group which holds a majority stake in Hobbs, "" totally favorable business and is strongly encouraged by the current performance '. "

Hobbs works in partnership with 3i "accelerate the growth of the brand," including looking at investment plans and launch extensive customer research.

The month last reports in the fashion industry suggested that 3i has commissioned a review "root and branch" string in advance the financial restructuring. According to magazine Drapers, 3i appointed Advisor business Hawkpoint to analyze balance chain and conduct investigations of consumer insight.

Meanwhile, Hobbs has opened the first in a string of new stores, called NW3, Londres.Elle Westfield Mall plans to open more outlets in 2011.

In the year to 30 January 2010 sales were ￡ 92.9 m, down from ￡ 101.6 m the year before interest, taxes, depreciation and amortization (EBITDA) in the year in the month of January précédente.Bénéfice were ￡ 11.8 m, compared to ￡ 18.8 m last year.

The company stated that the results were "consistent with the expectations of management".

Hobbs said that internet sales grew more 50pc for the second consecutive year.

View the original article here