Hobbycraft sales slump following lockdown store closures
Hobbycraft sales and profits slumped due to coronavirus-related store closures, although trading has improved since April reopening.
Revenues decreased by 8.6% to £177m in the 53 weeks ended February 21, while store sales declined by £53m due to the restrictions and like-for-like sales dropped by 11%.
Operating profit also fell from £2.7m to £1.3m across the year, while EBITDA fell by 7.2% to £14m in the same period.
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