Hobbycraft full-year profits surge as sales rise
Hobbycraft has posted a strong uplift in profits as the retailer’s sales increased thanks to smaller-format store and online revenue.
The specialist retailer reported a 28% jump in adjusted EBITDA to £12.2m in the year to February 17, driven by a 5.4% boost in total revenue to £177.7m.
The retailer’s ecommerce sales climbed 23% during the period.
Hobbycraft opened five new stores in the year, taking its overall bricks-and-mortar portfolio to 94.
The retailer, which ended the year with 3.9 million members of its loyalty card scheme, drove in-store footfall through demos and workshops, which 100,000 customers attended over the course of the year.
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