Is Hobby Lobby Closing Its Stores? Separating Fact from Fiction

Have you recently scrolled through social media and stumbled upon alarming headlines suggesting that Hobby Lobby is closing its doors for good? You're not alone. Rumors about the popular arts and crafts retailer shutting down have circulated persistently, causing concern among loyal customers and employees alike. But before you panic and rush to stock up on craft supplies, let's get to the bottom of this widespread speculation.

The definitive answer is no, Hobby Lobby is not closing its stores. In fact, the company continues to thrive and expand its presence across the United States. While misinformation can spread quickly online, the reality paints a picture of a robust and growing retail chain.

The Persistent Rumor Mill: Why Do These Stories Spread?

So, if Hobby Lobby isn't closing, why do these rumors keep surfacing? There are several reasons why such misinformation gains traction:

• Social Media Amplification: Unverified posts and clickbait articles on platforms like Facebook, Twitter, and Reddit often spark and spread these rumors without concrete evidence. These posts might cite unnamed sources or allude to internal memos that don't exist.
• Misinterpretation of Past Events: Hobby Lobby did temporarily close all its stores in April 2020 in response to the COVID-19 pandemic, after initially attempting to remain open. This temporary shutdown, along with the furloughing of employees, made significant headlines and likely fueled long-term speculation about the company's stability.
• Legal Controversies: Over the years, Hobby Lobby has faced various controversies, including legal battles related to religious freedom and accusations concerning the acquisition of smuggled antiquities. While these events garnered media attention, they are distinct from the company's overall operational health or plans for widespread store closures.
• Confusion with Other Retailers: In the dynamic retail landscape, some arts and crafts competitors or other big-box stores have indeed faced closures or bankruptcies. For instance, Joann Fabric and Craft Stores recently filed for Chapter 11 bankruptcy, which led to store closures, and some shoppers are expected to shift their purchases to Michaels and Hobby Lobby. This can sometimes lead to confusion among consumers.

Hobby Lobby's Current Health: A Picture of Growth, Not Closure

Contrary to the circulating rumors, Hobby Lobby is in a strong financial position and actively pursuing growth.

A Growing Footprint

As of May 2025, Hobby Lobby operates 1,057 stores across 48 states in the United States. This extensive network demonstrates a significant retail presence. The company has a history of consistent expansion, opening dozens of new stores each year. For example, in 2019, they planned to open 65 new locations, and in 2017, they opened 50 new stores. Even recently, in December 2024, Hobby Lobby opened new locations in states like New York, Delaware, and South Carolina.

Financial Stability

Hobby Lobby is a privately held company, meaning it is not traded on the stock market. This structure allows them to operate without the same public financial reporting obligations as publicly traded companies. However, available information indicates a healthy financial standing. In 2023, the company generated nearly $8 billion in annual revenue. Furthermore, Hobby Lobby is noted for having no outstanding long-term debt, which provides a strong buffer against economic downturns. This financial prudence enables them to continue their aggressive expansion model.

Strategic Business Model

Hobby Lobby's business model focuses on offering a wide range of arts and crafts supplies, home décor, and seasonal merchandise. They often occupy large retail spaces, frequently converting previously owned big-box stores, which helps them save significantly on operating costs compared to new construction. Their strategy emphasizes focusing on trends rather than fads and maintaining a diverse product catalog of over 70,000 items.

Beyond the Hype: Understanding Hobby Lobby's Operations

Hobby Lobby's operations are deeply rooted in the Green family's evangelical Protestant beliefs, which influence certain business practices, such as closing all stores on Sundays to allow employees time for family and worship. The company also makes efforts to provide competitive wages, having raised its minimum full-time hourly wage multiple times, reaching $19.25 effective October 1, 2024.

While occasional rumors or past controversies might grab headlines, they do not reflect a company on the brink of closure. Instead, Hobby Lobby continues to be a dominant force in the arts and crafts retail sector, serving a broad customer base with a wide array of products.

Conclusion

The rumors circulating about Hobby Lobby closing its stores are unfounded. The arts and crafts giant remains a robust and expanding retailer with a strong financial foundation. With over 1,000 locations across the U.S. and a consistent strategy for growth, Hobby Lobby is clearly not going out of business.

Next time you encounter such a rumor online, remember to seek out credible sources and official statements. In an age of rapid information spread, verifying facts is more important than ever. So, rest assured, your local Hobby Lobby is likely to remain open for all your crafting and decorating needs for the foreseeable future.

Do you have a favorite Hobby Lobby project you've completed, or perhaps a question about their current offerings? Share your thoughts in the comments below!

Frequently Asked Questions (FAQ)

Is Hobby Lobby going out of business in 2025?

No, there is no credible evidence to suggest that Hobby Lobby is going out of business in 2025. Rumors of closure are unsubstantiated, and the company continues to operate and expand.

How many Hobby Lobby stores are there?

As of May 21, 2025, there are 1,057 Hobby Lobby stores across 48 states in the United States.

Why did Hobby Lobby temporarily close stores in the past?

Hobby Lobby temporarily closed all its stores in April 2020 in response to the COVID-19 pandemic and stay-at-home orders issued by state and local authorities. They later reopened as restrictions eased.

Is Hobby Lobby financially stable?

Yes, Hobby Lobby is considered financially stable. It is a privately held company with no long-term debt and reported nearly $8 billion in annual revenue in 2023. The company continues to invest in new store openings and maintain a strong market presence.