Arts and Crafts Retailer Hobbycraft Sees £100m+ Revenue and E-commerce Boost
- Hobbycraft reports £100m+ revenue for full year results
- 5.4% increase in total revenue to £177.7m
- E-commerce growth up 22.7% to £17.7m
- Adjusted EBITDA increased by 27.8% to £12.2m
- Five new stores opened, totaling 94 stores
- Retail environment remains challenging
- First quarter trading ahead of previous year
Arts and crafts retailer Hobbycraft has reported a strong financial performance, with total revenue increasing by 5.4% to £177.7 million for the year ending 17 February 2019. The growth was driven by a 22.7% increase in e-commerce sales and an adjusted EBITDA of £12.2 million, up from £9.5 million. The company opened five new stores during the period, bringing its total store portfolio to 94. Despite acknowledging the challenging retail environment, Hobbycraft is confident in its growth plans and has seen positive trading results for the first quarter of this year. CEO Dominic Jordan said that the company’s multi-channel strategy is improving brand appeal and meeting customer needs through a broad product range.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Hobbycraft’s financial performance, including revenue growth, e-commerce growth, adjusted EBITDA, and the opening of new stores. It also includes a statement from the CEO regarding their plans for future growth and targeting a broader customer base.
Noise Level: 3
Noise Justification: The article provides relevant information about Hobbycraft’s financial performance and growth strategies, but it lacks in-depth analysis or exploration of the factors contributing to their success or challenges faced by the company in the retail environment.
Financial Relevance: Yes
Financial Markets Impacted: Hobbycraft’s stock price may be impacted by its financial performance
Financial Rating Justification: The article discusses Hobbycraft’s financial performance, including revenue growth and adjusted EBITDA increase, which are relevant to the company’s financial health. While it does not directly mention any specific financial markets, the company’s positive performance could potentially affect its stock price and overall market value.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article.
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