// Hobbycraft online sales rise 200%
// Adjusted EBITDA UP 21.9% to £14.8 million
// Total revenue up 8.9% to £193.6 million
Hobbycraft has recorded a 200 per cent surge in online sales since the Covid-19 pandemic struck the UK.
The arts and crafts retailer also saw its adjusted EBITDA rise 21.9 per cent from £12.2 million to £14.8 million in the full year to February 16.
Total revenue for the period was up 8.9 per cent to £193.6 million.
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In-store like-for-like sales rose 4.7 per cent year-on-year while ecommerce sales grew by 19 per cent during the period thanks to investment and its click-and-collect service.
Hobbycraft opened five new stores over the year, bringing its total estate to 99.
The retailer has been focusing on its online service since stores were forced to temporarily close in late March due to the coronavirus lockdown.
It has been offering daily ‘Kids’ Craft Club’ classes on its social media channels.
It plans to continue offering its demos and workshops via Zoom in order to reach a wider audience as some consumers choose to stay home.
During the period, Hobbycraft saw online like-for-like sales rise 200 per cent while its digital classes reached more than 15 million customers.
“We are pleased with our performance and how our offer improved again over the past year,” Hobbycraft chief executive Dominic Jordan said.
“We continue to execute our strategy with improvements in product ranges supporting multichannel growth.
“Our broad range of products continues to evolve with more specialist materials and newness, ensuring that we satisfy the needs of craft enthusiasts and stay ahead of the competition.
“New ranges delivered growth across a number of areas, including art, which saw growth of 20 per cent, kids’ painting at 17 per cent and digital cutting with growth of over 100 per cent.
“Our resolute focus on the strategy will see us bring further product innovation and inspiration, a new approach to online demonstrations and workshops, new stores and further investment in our ecommerce platform to support future growth.
“As ever, these plans are underpinned by a focus on great customer service and colleague engagement.
“We seek to provide inspiration to customers in the local communities we serve and allow our colleagues to demonstrate their incredible knowledge and passion for crafting.”
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