Hobbycraft
This coverage examines Hobbycraftโs evolving strategy within the UK retail sector. Reporting includes its expansion plans, such as the opening of seven new stores in 2025, and the introduction of dedicated digital crafting spaces and haberdashery areas in new locations. The content also addresses the company’s financial performance, noting an 80% drop in profits for the year ending February 2024 despite revenue growth. Additionally, the analysis covers the impact of Modella Capital’s acquisition in August 2024 and subsequent restructuring efforts, including the planned closure of nine stores in 2025. This information is curated for retail professionals assessing market opportunities, operational challenges, and strategic shifts in the arts and crafts retail sector.
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Mar- 2025 -27 MarchNews-In-Brief
Today’s news in brief-27/3/25
Next has reported record pre-tax profits of ยฃ1bn for the year to January 2025, marking a 10.1% increase, and has raised its full-year profit guidance by ยฃ20m to ยฃ1.06bn. The retailer attributed its strong performance to acquisitions like Reiss and FatFace, with total group sales rising 8.2% to ยฃ6.3bn. Online…
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27 MarchDIY
Lakeland becomes latest bid target for Modella Capital
Homewares retailer Lakeland has become the latest takeover target of retail investor firm Modella Capital, Sky News has revealed.ย The investment firm, which owns Hobbycraft and The Original Factory Shop, is among a small number of parties trying to acquire a controlling stake in Lakeland. According to retail industry sources,…
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25 MarchHigh Street
WH Smith completes refinancing amid plans to sell high street armย
WH Smith has successfully completed a refinancing, which includes its first US Private Placement (USPP) as well as a new bank term loan of ยฃ120m, ahead of the groupโs potential sale of its high street arm. The ยฃ200m USPP notes have a maturity of seven, 10 and 12 years and…
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13 MarchNews-In-Brief
Today’s news in brief-13/3/25
John Lewis Partnership has announced that its staff will not receive a bonus for the third consecutive year, despite tripling its full-year profits from ยฃ42m to ยฃ126m. Instead, the company is investing ยฃ114m into staff pay, building on a ยฃ116m increase in 2024, and up to ยฃ600m in business transformation.…
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13 MarchHigh Street
Hobbycraft owner eyes potential restructuring
Hobbycraft owner, Modella Capital, has reportedly enlisted advisers from FRP to explore a restructuring at the crafts chain, Sky News has reported.ย ย Modella, which acquired the retailer seven months ago, is examining its options such as a company voluntary arrangement (CVA). CVAs, which are frequently used to facilitate store closures…
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10 MarchHigh Street
Two bidders remain in running for WH Smith high street arm
Only two firms reportedly remain in the running to acquire WH Smithโs high street business, with a possible decision coming sometime this spring, according to Sky News.ย The news outlet revealed that Alteri Investors, which owns Bensons for Beds, and the Hobbycraft and The Original Factory Shop owner Modello Capital…
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Feb- 2025 -12 FebruaryNews-In-Brief
Today’s news in brief-12/2/25
Kering, the luxury conglomerate behind Gucci, Yves Saint Laurent, and Bottega Veneta, reported a challenging fiscal 2024, with revenue falling 12% to โฌ17.2 billion (ยฃ14.3 billion) and EBITDA plummeting 29% to โฌ4.6 billion (ยฃ3.8 billion). Gucciโs 23% sales decline to โฌ7.65 billion (ยฃ6.37 billion) significantly impacted the group, alongside a…
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12 FebruaryPeople Moves
JD Group appoints new CEO to Outdoor business
JD Group has appointed Dominic Jordan as the new CEO of JD Outdoor as Lee Bagnall steps down from the role.ย Jordan joins the group from Hobbycraft, where he held the role of CEO from 2017 to 2024.ย Prior to that, he was retail and property director from 2012 to…
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Jan- 2025 -28 JanuaryNews-In-Brief
Today’s news in brief-28/1/25
HMV owner Doug Putman is reportedly exploring a bid for WH Smithโs high street arm after the retailer announced plans to sell its 500-store chain. Modella Capital, owner of Hobbycraft, is also in talks regarding a potential acquisition, although the outcome remains unclear. WH Smithโs move comes as its high…
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28 JanuaryHigh Street
HMV owner eyes bid for WH Smithโs high street arm
The owner of HMV is reportedly considering snapping up WH Smithโs high street arm, after the retailer this week confirmed it was exploring a potential sale of its 500 high street stores.ย According to The Sun, it is understood that HMV owner Doug Putman is now in talks with advisers over…
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