Fashion retailer Hobbs has posted revenues of £65.1 million for the year for 27th March ’21, a 51 per cent drop from the previous year. The business said it had been impacted by being unable to trade its stores for any more than 53 per cent of standard opening hours due to lockdown restrictions and had also seen demand plummet for its core product categories as customers were driven to WFH. This resulted in a post-tax loss of £15.2 million as against the £4.3 million profit is registered for Y/E 2020.
The business said that its strong online presence – via its own website and third party sites – was helping to restore performance and that the business was doing well now that its stores are trading again.
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