Is Hobby Lobby Publicly Traded? An In-Depth Look at the Companys Ownership and Future

This measured approach reflects the private ownership‘s preference for sustainable growth over rapid expansion. While maintaining traditional retail strength, Hobby Lobby has developed its digital presence carefully. Hobby Lobby‘s approach to real estate exemplifies the advantages of private ownership. The company‘s centralized distribution system, featuring five major distribution centers, supports its no-debt policy while maintaining strong inventory management.

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Select the company’s link to access charts, news links and company website and social media information. Green is the privately held company’s chief executive officer and his son, Steve, is its president. After visiting both stores, I found that Michaels was the clear winner between the two. While Hobby Lobby is a Christian-owned company, the store itself does not describe itself as a vendor of strictly Christian merchandise.

While private status means Hobby Lobby isn‘t required to disclose detailed financial information, industry analysis reveals impressive performance metrics. This freedom allows for unique operational decisions that might raise eyebrows on Wall Street but align perfectly with the Green family‘s values. In 2012, Green made headlines by announcing he had given away majority ownership to a trust, ensuring the company‘s Christian values would persist beyond his lifetime.

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• This test is rooted in the long-standing case law that constitutes the alter ego doctrine (commonly referred to as “veil piercing”).
• The stocks on my list are all well-known companies, with the potential exception of Cricut.
• David Green took a public stance against the Patient Protection and Affordable Care Act, citing its mandating that companies provide access to contraception and the morning-after pill.
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Because piercing the corporate veil works against a core tenet of “separateness” in corporate law (and can sometimes result in a harsh penalty for shareholders should they be required to answer for the corporation’s liabilities), courts approach the doctrine with some caution. While consumers can shop at hundreds of Hobby Lobby stores across America, they cannot invest in this retail crafts giant on the public stock exchanges. For the aforementioned reasons, this inquiry should result in relying on the law of veil piercing and protection of corporation shareholder minorities for guidance on the definition of an “eligible institution.” We further think that this militates a certification requirement for “eligible companies,” but not a numbers test for shareholders. In summary we believe that your organizations should look, as the Supreme Court’s majority opinion in Hobby Lobby dictates, to corporate law for determining when it is appropriate to disregard the distinct identity of a corporation for the religious identity of its shareholders.

In such a circumstance, the identities of the shareholders and the corporation are merged to a sufficient extent that they satisfy the requirements of Hobby Lobby. Indeed, to make this doctrine administratively feasible, we further suggest that shareholders of a corporation should have to certify that they and the corporation have a unity in identity and interests, and therefore the corporation should be viewed as the shareholders’ alter ego. This test is rooted in the long-standing case law that constitutes the alter ego doctrine (commonly referred to as “veil piercing”).

As a privately held company, Hobby Lobby does not disclose detailed financials. By 1997, Hobby Lobby operated 147 stores in 24 states. As demand grew, the Greens opened a retail outlet in 1972 in Oklahoma City, OK – the first Hobby Lobby store. Providing data-driven insights for smart investing in public markets, crypto, and ETFs.

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That’s a lot of people who still enjoy their arts and crafts! However, the value of the is hobby lobby publicly traded arts and crafts industry was over $42 billion in 2023. In 2022, Green publicly stated that he would give away most of the money he and his family had made. Green has also publicly spoken against the wealth he has made from owning the company. Since the company started in 1972, David Green has shown no interest in taking Hobby Lobby public.

Unlike publicly traded competitors, Hobby Lobby doesn‘t face pressure to maximize quarterly earnings or maintain stock prices. The Green family‘s commitment to private ownership runs deeper than mere financial considerations. Since its humble beginnings in 1972, when David Green invested $600 to start a small picture frame company in Oklahoma City, Hobby Lobby has remained firmly in family hands.

• It would also allow the Green family to sell some of their shares if desired, potentially diversifying their wealth.
• It might not be the same as investing in high-flying tech stocks, but the arts and crafts industry can still provide meaningful returns.
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• By all metrics, the arts & crafts chain remains steadfastly open for business.
• In response, Congress passed RFRA, which stated even if a law is generally applied and doesn’t target a religious practice, if the law substantially burdens a person’s exercise of their religion, courts should apply the more rigorous analysis known as strict scrutiny.
• Many large private companies have gone this route in recent years, from Airbnb to Uber to Snowflake.
• The Michaels Companies (MIK) is one of the largest arts and crafts companies in the world with over a thousand stores.

The Green Family‘s Beliefs and Values

Hobby Lobby is known for its extensive selection, competitive pricing, and its Christian-founding principles which influence its business operations, including being closed on Sundays. Stories of how companies improved sales effectiveness using signals Sales and marketing tips, and RevOps guides to help drive sales effectiveness. Elevate social presence and drive business growth from social media

For example, the idea that unrelated shareholders—including institutional investors with their own set of stakeholders—would agree to run a corporation under the same religious beliefs seems improbable. To ascertain the religious status of a corporation, the Court focused on the fact that these for-profit, closely-held corporations were expressions of their owners’ identities such that “the religious liberty of the humans who own and control those companies” should be protected. While the Court found that RFRA’s protections could apply to a for-profit, closely-held corporation, the majority did so on the basis that the shareholders’ expressed religious beliefs could be attributed to the corporation itself. The Court justified the application of RFRA’s protections to these closely-held, for-profit corporations due to the “sincerity of an asserted religious belief” of the corporation’s shareholders.

These moves seem to be paying off, with Hobby Lobby‘s estimated revenue growing 14.4% in 2020 despite the pandemic‘s toll on physical retail. The company is also investing heavily in e-commerce to complement its brick-and-mortar presence. But for now, all signs point to Hobby Lobby staying under the Green family‘s tight control. Of course, the Greens‘ reluctance to go public doesn‘t mean an IPO is completely off the table forever. Given these trade-offs, it‘s not surprising that David Green has said he has no plans to take Hobby Lobby public.

While Etsy sells a wide range of products, it is well-known for its crafts like jewelry, home decor, and clothing. As of 2025, there is no Hobby Lobby stock. One aspect of Hobby Lobby and the Green family is that they are devout evangelical Protestants. Green remains the company’s CEO, his son Steve Green is the president, and his daughter Darsee Lett is the creative director.

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Company

The Green family still privately owned it, with most members holding executive positions. Like other companies that hold Christianity highly in corporate values, Hobby Lobby locations are closed on Sundays to allow employees time to worship. The company incorporates very conservative American values. These locations are in 48 states, with no stores in Alaska or Hawaii.

Final Thoughts on Hobby Lobby Stock

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In a reversal, in April 2020, Hobby Lobby closed all stores and furloughed nearly all employees without pay, announcing that they were “ending emergency leave pay and suspending use of company provided paid time off benefits and vacation.” In addition, Steve Green, the son of David Green, issued a statement that the stores had carried Jewish items in the past, and would be testing the market to do so in the future. This allows Hobby Lobby to save 50–70 percent on an older, existing building lease as compared with constructing a new retail space, which they view as critical to their competitive advantage in the arts and crafts industry.

Products

Both stores sell products like canvases, sketchbooks, brushes, and paints, but Michaels has a greater variety of brands and prices to choose from. Hobby Lobby is not a publicly traded company, and we have no plans to go public in the future. A Christian-owned company, Hobby Lobby incorporates American conservative values and Christian media. As a leading hardware retailer, Lowe’s can be a great company to work for if you love DIY projects.

The company is known for providing competitive benefits and promoting from within. Employees often describe a stable and traditional corporate environment. It’s one of the largest corporate campuses in Oklahoma City.

Looking ahead, analysts expect the arts and crafts industry as a whole to keep growing at a steady clip, driven by trends like the rise of DIY culture and personalization. In 2019 the retailer expanded online product offerings by 67% and doubled its digital marketing spend, according to eMarketer. In 2019, David‘s son Steve Green told the National Retail Federation that “maintaining Hobby Lobby as a privately held company is a priority.”