Hobbycraft enjoys Christmas rise - ToyNews

Hobbycraft enjoys Christmas rise

Hobbycraft saw like for like sales rise 4.6 per cent over Christmas, and sales of festive products up 115 per cent on last year.
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Total sales for the 10 months to December 2008 were up 10.1 per cent on the previous year, to £57.3m and pre-tax profits were £6.1m, up 122 per cent.

Chris Crombie, Chief Executive of HobbyCraft, said: "While the retail environment is certainly tough at the moment, we are delighted by our credit-crunch resilient performance. The New Year is a popular time to take up a new hobby and we expect to see continued growth well into 2009.

"While many people will fail to keep New Year's resolutions such as going to the gym, due to a lack of time or feeling like a chore, crafting is totally different. Many creative pursuits, such as painting and card making, can be easily 'picked up and put back down again', fitting comfortably around people's busy timetables.

"With craft materials being relatively inexpensive to purchase, we are confident that people will be keen to invest in their new hobby, even in these challenging economic times, as it doesn't have to mean breaking the bank."

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