1. News
November 10, 2017updated 11 Nov 2021 12:53pm

South Africa’s TFG acquires UK’s womenswear retailer Hobbs

South Africa-based The Foschini Group (TFG) has signed an agreement to acquire the entire issued share capital of UK womenswear brand Hobbs.

South Africa-based The Foschini Group (TFG) has signed an agreement to acquire the entire issued share capital of UK womenswear brand Hobbs.

Free Report
img

Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

The financial terms of the transaction were not disclosed.

Established in 1981, Hobbs has a network of more than 140 stores throughout the UK and Ireland, in addition to selling its products through its online channel.

A strategic review aimed at improving the business was undertaken in 2015 under the leadership of Hobbs chief executive Meg Lustman.

“The addition of Hobbs to TFG’s existing portfolio of brands will further position TFG as a leading fashion retailer not only in South Africa, but internationally, and will enhance its online presence.”

TFG chief executive Ben Barnett was quoted by media sources as saying: “Meg Lustman and her team have successfully repositioned and reinvigorated the brand, offering an excellent platform for further growth.

“We share their ambitions, not only in terms of maximising the success of their well-established UK presence, but also in their strategic approach towards leveraging the international appeal of the brand, via their physical store portfolio, carefully aligned concession partners and evolving ecommerce proposition.”

Hobbs is a retailer of women’s apparel, shoes and accessories, with revenues of £120m.

In 2014, the retailer reached an agreement to offer its designs in Bloomingdale’s stores, including the store on 59th Street in New York, US.

Last year, Hobbs also opened department store concessions in Germany.

In a statement Foschini said: “The addition of Hobbs to TFG’s existing portfolio of brands will further position TFG as a leading fashion retailer not only in South Africa, but internationally, and will enhance its online presence.”

As an investment holding company, Foschini has business interests in various segments throughout southern Africa, including retail clothing, jewellery, accessories, cosmetics, sporting and outdoor apparel and equipment, and homeware and furniture.

Free Report
img

Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.