Hobbycraft profit halves as revenues decline

Arts and crafts retailer Hobbycraft saw profits plunge in its latest annual results, as its sales also took a hit.
Adjusted EBITDA halved from £10.4m in 2024 to £5.2m for the 52 weeks ended 16 February.
Total sales were down 1.1% to £215.9m from £218.3m the year prior, while the brand’s LFL sales performance declined by 4.3%, compared to 1.1% in 2024. Online sales also dropped 5.7%.
However, the retailer saw gross margin grow from 58.4% to 59% over the period f