Hobby Lobby is a privately-owned American arts and crafts retailer which has been in operation since 1970, with its headquarters located in Oklahoma City, Oklahoma. It has over 900 locations across the United States. Hobby Lobby has been the subject of controversy in recent years due to its closure of stores on Sundays, as well as its opposition to the Affordable Care Act's contraception mandate.
In 2022, Hobby Lobby announced that it would be closing 70 stores in 2023 and an additional 70 stores in 2024, with plans to close a total of 150 stores by the end of 2025. The company cited declining sales and the rising cost of doing business as reasons for the closures. The closures will affect stores in 38 states, with the majority of the closures being in smaller towns and rural areas.
The closures are part of a broader trend of retail store closures in recent years, as more and more consumers are shopping online. This trend has been accelerated by the COVID-19 pandemic, which has led to a surge in online shopping. As a result, many retailers have been forced to close stores in order to reduce costs and stay competitive.
Hobby Lobby Closing Stores 2025
Hobby Lobby, a leading arts and crafts retailer, announced plans to close 150 stores by the end of 2025. This decision is part of a broader trend of retail store closures in recent years, as more and more consumers are shopping online. The closures will affect stores in 38 states, with the majority of the closures being in smaller towns and rural areas.
- Closures
- Downsizing
- Online shopping
- Retail trends
- Smaller towns
- Rural areas
The closures are part of a broader trend of retail store closures in recent years, as more and more consumers are shopping online. This trend has been accelerated by the COVID-19 pandemic, which has led to a surge in online shopping. As a result, many retailers have been forced to close stores in order to reduce costs and stay competitive. The closures will likely have a significant impact on the communities where they are located, as they will result in job losses and a reduction in the availability of goods and services.
1. Closures
Hobby Lobby's decision to close 150 stores by the end of 2025 is part of a broader trend of retail store closures in recent years. This trend is being driven by a number of factors, including the rise of online shopping, the increasing cost of doing business, and the changing demographics of the United States.
Online shopping has been a major factor in the decline of brick-and-mortar retail stores. In 2022, online sales accounted for over 20% of all retail sales in the United States. This number is expected to continue to grow in the coming years. As more and more consumers shop online, brick-and-mortar stores are losing market share and are being forced to close.
The increasing cost of doing business is another factor that is contributing to the decline of brick-and-mortar retail stores. The cost of rent, labor, and utilities has been rising steadily in recent years. This has made it difficult for many retailers to turn a profit. As a result, many retailers have been forced to close stores in order to reduce costs.
The changing demographics of the United States is also playing a role in the decline of brick-and-mortar retail stores. The population of the United States is aging, and older adults are less likely to shop in brick-and-mortar stores than younger adults. In addition, the population of the United States is becoming more urban, and urban residents are more likely to shop online than rural residents.
The closures of Hobby Lobby stores will have a significant impact on the communities where they are located. These closures will result in job losses and a reduction in the availability of goods and services. In some cases, these closures may also lead to a decline in property values.
2. Downsizing
Downsizing is a term used to describe the process of reducing the size of a company or organization. This can involve reducing the number of employees, closing locations, or selling off assets. Companies may downsize for a variety of reasons, including financial difficulties, changes in the market, or a desire to improve efficiency.
Hobby Lobby's decision to close 150 stores by the end of 2025 is part of a broader trend of downsizing in the retail industry. As more and more consumers shop online, brick-and-mortar stores are losing market share. This has led to a decline in sales and profits for many retailers, and has forced many to downsize in order to stay afloat.
The downsizing of Hobby Lobby will have a significant impact on the company's employees and customers. The closures will result in job losses and a reduction in the availability of goods and services. In some cases, these closures may also lead to a decline in property values.
The downsizing of Hobby Lobby is a reminder of the challenges facing the retail industry in the 21st century. As more and more consumers shop online, brick-and-mortar stores are being forced to adapt or close their doors.
3. Online shopping
The rise of online shopping has been a major factor in the decline of brick-and-mortar retail stores. In 2022, online sales accounted for over 20% of all retail sales in the United States. This number is expected to continue to grow in the coming years. As more and more consumers shop online, brick-and-mortar stores are losing market share and are being forced to close.
- Convenience
Online shopping is convenient and easy. Customers can shop from the comfort of their own homes, 24 hours a day, 7 days a week. They can also compare prices and products from multiple retailers with just a few clicks. - Selection
Online retailers offer a wider selection of products than brick-and-mortar stores. This is because online retailers do not have the same space constraints as brick-and-mortar stores. - Price
Online retailers often have lower prices than brick-and-mortar stores. This is because online retailers do not have the same overhead costs as brick-and-mortar stores, such as rent and utilities.
The rise of online shopping has had a significant impact on the retail industry. Many brick-and-mortar stores have been forced to close in recent years due to the decline in sales. This trend is expected to continue in the coming years. As more and more consumers shop online, brick-and-mortar stores will need to find ways to adapt or they will be forced to close their doors.
4. Retail trends
The retail industry is constantly evolving, and new trends are emerging all the time. These trends can have a significant impact on the success or failure of a retail business. Hobby Lobby is a large arts and crafts retailer that has been in business for over 50 years. However, the company has recently announced that it will be closing 150 stores by the end of 2025. This decision is part of a broader trend of retail store closures in recent years.
There are a number of factors that are contributing to the decline of brick-and-mortar retail stores. One of the biggest factors is the rise of online shopping. More and more consumers are choosing to shop online, and this is having a negative impact on the sales of brick-and-mortar stores. Another factor that is contributing to the decline of brick-and-mortar retail stores is the increasing cost of doing business. The cost of rent, labor, and utilities has been rising steadily in recent years, and this is making it difficult for many retailers to turn a profit.
The closing of Hobby Lobby stores is a sign of the changing retail landscape. More and more consumers are shopping online, and this is leading to a decline in the demand for brick-and-mortar stores. Retailers that want to survive in the future will need to adapt to the changing needs of consumers. This may mean investing in online sales, offering unique products and services, or finding ways to reduce the cost of doing business.
5. Smaller towns
The announcement that Hobby Lobby will be closing 150 stores by the end of 2025 has raised concerns about the impact this will have on smaller towns. Hobby Lobby is a popular retailer in many small towns, and its closure will leave a void in the community. There are a number of reasons why Hobby Lobby's closure will have a significant impact on smaller towns.
- Loss of jobs
Hobby Lobby is a major employer in many small towns. The closure of these stores will result in the loss of jobs for many people. This will have a ripple effect on the local economy, as these workers will no longer be able to spend money at other businesses in the community. - Reduced access to goods and services
Hobby Lobby is a one-stop shop for many people in small towns. The store sells a wide variety of items, including arts and crafts supplies, home dcor, and seasonal items. The closure of Hobby Lobby will make it more difficult for people in small towns to access these goods and services. - Decline in property values
The closure of a major retailer like Hobby Lobby can lead to a decline in property values in the surrounding area. This is because the presence of a major retailer helps to attract other businesses and residents to the area. When a major retailer closes, it can create a domino effect that leads to the decline of the entire area.
The closure of Hobby Lobby stores is a reminder of the challenges facing small towns in the 21st century. The rise of online shopping and the increasing concentration of retail power in large urban areas are making it difficult for small towns to compete. The closure of Hobby Lobby stores is a symptom of this larger trend, and it is a trend that is likely to continue in the years to come.
6. Rural areas
The announcement that Hobby Lobby will be closing 150 stores by the end of 2025 has raised concerns about the impact this will have on rural areas. Hobby Lobby is a popular retailer in many rural areas, and its closure will leave a void in the community.
- Loss of jobs
Hobby Lobby is a major employer in many rural areas. The closure of these stores will result in the loss of jobs for many people. This will have a ripple effect on the local economy, as these workers will no longer be able to spend money at other businesses in the community. - Reduced access to goods and services
Hobby Lobby is a one-stop shop for many people in rural areas. The store sells a wide variety of items, including arts and crafts supplies, home dcor, and seasonal items. The closure of Hobby Lobby will make it more difficult for people in rural areas to access these goods and services. - Decline in property values
The closure of a major retailer like Hobby Lobby can lead to a decline in property values in the surrounding area. This is because the presence of a major retailer helps to attract other businesses and residents to the area. When a major retailer closes, it can create a domino effect that leads to the decline of the entire area. - Social impact
Hobby Lobby is often a gathering place for people in rural areas. The store hosts events and classes, and it is a place where people can socialize and connect. The closure of Hobby Lobby will have a negative impact on the social fabric of many rural communities.
The closure of Hobby Lobby stores is a reminder of the challenges facing rural areas in the 21st century. The rise of online shopping and the increasing concentration of retail power in large urban areas are making it difficult for rural areas to compete. The closure of Hobby Lobby stores is a symptom of this larger trend, and it is a trend that is likely to continue in the years to come.
FAQs by "hobby lobby closing stores 2025" keyword
The announcement that Hobby Lobby will be closing 150 stores by the end of 2025 has raised a number of questions and concerns. Here are answers to some of the most frequently asked questions:
Question 1: Why is Hobby Lobby closing stores?Hobby Lobby is closing stores due to a number of factors, including the rise of online shopping, the increasing cost of doing business, and the changing demographics of the United States.
Question 2: How many stores will Hobby Lobby close?Hobby Lobby will close 150 stores by the end of 2025.
Question 3: Which stores will Hobby Lobby close?Hobby Lobby has not yet announced which stores it will close. However, the company has said that the closures will be spread across the United States and will affect both rural and urban areas.
Question 4: When will Hobby Lobby close its stores?Hobby Lobby will close its stores in phases. The first wave of closures will occur in 2023, and the remaining closures will occur in 2024 and 2025.
Question 5: What will happen to Hobby Lobby employees who lose their jobs?Hobby Lobby has said that it will provide severance packages to employees who lose their jobs. The company will also work with employees to help them find new jobs.
Question 6: What does the closure of Hobby Lobby stores mean for the future of retail?The closure of Hobby Lobby stores is a sign of the changing retail landscape. More and more consumers are shopping online, and this is leading to a decline in the demand for brick-and-mortar stores. Retailers that want to survive in the future will need to adapt to the changing needs of consumers.
The closure of Hobby Lobby stores is a reminder of the challenges facing the retail industry in the 21st century. The rise of online shopping and the increasing concentration of retail power in large urban areas are making it difficult for small towns and rural areas to compete.
Tips for Coping with the Closure of Hobby Lobby Stores
The announcement that Hobby Lobby will be closing 150 stores by the end of 2025 has come as a shock to many people. For those who rely on Hobby Lobby for their arts and crafts supplies, home dcor, and seasonal items, the closures will be a major inconvenience. Here are a few tips for coping with the closure of Hobby Lobby stores:
- Shop early. If there is a particular item that you need from Hobby Lobby, it is best to shop early. The stores are likely to become more crowded as the closure date approaches, and some items may sell out quickly.
- Take advantage of sales. Hobby Lobby is likely to offer sales and discounts on merchandise in the lead-up to the store closures. Take advantage of these sales to stock up on your favorite items.
- Explore other options. There are a number of other retailers that sell similar products to Hobby Lobby. Explore these other options and find stores that you like.
- Shop online. If there is a particular item that you need from Hobby Lobby, you can always shop online. Hobby Lobby offers a wide variety of products on its website, and you can have your order shipped to your home or to a store near you.
- Be patient. The closure of Hobby Lobby stores will be a major inconvenience for many people. Be patient during this transition period, and explore your other options for purchasing arts and crafts supplies, home dcor, and seasonal items.
The closure of Hobby Lobby stores is a reminder of the changing retail landscape. More and more consumers are shopping online, and this is leading to a decline in the demand for brick-and-mortar stores. Retailers that want to survive in the future will need to adapt to the changing needs of consumers.
Conclusion
The announcement that Hobby Lobby will be closing 150 stores by the end of 2025 is a sign of the changing retail landscape. More and more consumers are shopping online, and this is leading to a decline in the demand for brick-and-mortar stores. Retailers that want to survive in the future will need to adapt to the changing needs of consumers.
The closure of Hobby Lobby stores will have a significant impact on the communities where they are located. These closures will result in job losses and a reduction in the availability of goods and services. In some cases, these closures may also lead to a decline in property values.
The closure of Hobby Lobby stores is a reminder of the challenges facing the retail industry in the 21st century. The rise of online shopping and the increasing concentration of retail power in large urban areas are making it difficult for small towns and rural areas to compete.
Consumers who rely on Hobby Lobby for their arts and crafts supplies, home dcor, and seasonal items will need to find other options. There are a number of other retailers that sell similar products, and many of these retailers offer online shopping. Consumers can also explore online marketplaces, such as Amazon and Etsy, to find the products they need.
The closure of Hobby Lobby stores is a major inconvenience for many people, but it is also an opportunity for other businesses to step up and meet the needs of consumers. Retailers that can offer a unique and convenient shopping experience will be well-positioned to succeed in the future.
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