Hobbs reports rise in profits Fashion retailer Hobbs has seen strong results from its turnaround plan, with a new focus on becoming “more relevant” to its customers starting to pay off.

In the year to January 31st, the company saw an 18% rise in earnings before tax, according to reports, bringing EBITDA to £7.7 million in contrast to last year’s loss of £15.6 million. Hobbs has recently started to invest in its omnichannel proposition, including click-and-collect, order in store and home delivery. This has allowed the retailer to trade more at full price, instead of relying on sales. Chief executive Meg Lustman commented: “Our strong performance this year against an uncertain economic backdrop is an indication of the success of our investments and our growing international footprint.

“We are confident of seeing further positive results as our growth plan progresses.”

Meanwhile, international (not sure if there is word missing here) had a “great year” with its concessions in US department store Bloomingdales seeing a profit for the first time in 2015. The company also opened in Germany online with Zalando and physical concessions in Wohrl and SinnLeffers.