Hobby Lobby Company Research Report

Company Overview

• Name: Hobby Lobby Stores, Inc.

• Mission of the Company:

• Honoring the Lord in all the company's operations by adhering to Biblical principles.

• Offering exceptional selection and value to customers.

• Serving employees and their families by promoting a nurturing work environment.

• Providing a return on the family's investment and sharing blessings with the community.

• Encouraging customers to "Live a Creative Life®".

• Founded: 1970

• Founders: David and Barbara Green

• Key People:

• David Green, Owner

• Steve Green, Company President

• Headquarters: Oklahoma City, Oklahoma, USA

• Number of Employees: Over 46,000

• Revenue: No specific revenue information is available.

• What the Company is Known for: Hobby Lobby is the largest privately owned arts-and-crafts retailer in the world, known for offering over 70,000 items including home decor, seasonal products, art supplies, craft supplies, and more.

Products

• Product Offerings:

• Home Decor: Includes mirrors, wall decor, lamps, art prints, decorative accents, and more.

• Arts and Crafts Supplies: A wide range of art supplies, crafting tools, and DIY project materials.

• Seasonal and Party Goods: Decorations and supplies for various holidays and themed parties.

• Fabric and Sewing Supplies: Offers a selection of fabrics, sewing notions, and quilting supplies.

• Beads and Jewelry Making Supplies: Includes everything needed for crafting custom jewelry items.

• High-Level Description:

• Hobby Lobby provides a diverse range of products catering to different arts, crafts, and home decoration needs. This includes DIY supplies, decor items, sewing and knitting tools, and seasonal products for holidays.

• Key Features of Selected Products:

• Yarn & Needle Art: Offers materials for knitting, crochet, and other needle crafts, including high-quality yarn brands like Yarn Bee.

• Art Supplies: Comprehensive selection for painting, drawing, and crafting, with items like acrylic paints, canvases, and art kits.

• Home Decor: Stylish and diverse options that align with several popular home decor trends such as farmhouse, boho, retro, and modern styles.

Recent Developments

• Recent Developments:

• Hobby Lobby announced an increase in its minimum full-time hourly wage to $19.25 effective from October 1, 2024.

• The company continues to expand, with new store openings in locations such as San Jose, California; Rexburg, Idaho; Neptune City, New Jersey; and North Augusta, South Carolina.

• New Products Launched: No specific information is available about new product launches.

• New Features Added to Existing Products: No information is available.

• New Partnerships: No specific partnership information is available.

This report provides a detailed overview of Hobby Lobby Stores, Inc., highlighting its foundation and growth, product offerings, and recent company developments. While specific financial figures and newer product innovations were not provided, the report captures core aspects of Hobby Lobby's business and ethos.