Hobbs to open at Gateshead's Metrocentre this week
Mid-market womenswear retailer Hobbs is to open a boutique in the North East of England at Metrocentre Gateshead on 17 November. The Upper Platinum Mall store will feature the brand’s London studio-designed ranges.
Hobbs takes over the former Suits Direct unit, which has relocated to a new unit at the mall.
Ben Cox of Sovereign Centros, senior asset manager for Metrocentre, said: “With a classic and sustainable product offering, the store will provide customers with further quality choices in womenswear and develop our current portfolio of fashion retailers and premium brands.
“Hobbs will shortly be joined by Jo Malone London and a few new names in the coming weeks. The addition of these quality brands is part of the wider business plan for the centre, the prime destination for shoppers in the region. The centre’s growth is clear, and we’re excited to continue our evolution.”
In an August trading update, TFG-owned Hobbs showed a clear performance improvement after the previous financial year was devastated by the impact of the pandemic. Turnover for the year ended March rose to £113.5 million from £65.1 million and it made a net profit of £7.2 million compared to a loss of £15.2 million in the previous year. Headline gross margin rose to 62.3%, from 46%.
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