Hobby Lobby is reportedly canceling its 40% off coupon by the end of February

• Hobby Lobby will drop the coupon by February 28 to make room for potential daily discounts.
• A number of customers launched an online petition to pressure the company to rescind its decision.

Hobby Lobby, an arts and crafts store chain, is reportedly canceling its 40% off coupon that is offered at its over 900 stores nationwide and online.

The move, which will take effect February 28, allows Hobby Lobby to increase its efforts to discount thousands of items every day, the company said on Facebook, according to USA Today.

"This will offer a better value instead of providing a discount on only one item with the coupon," Hobby Lobby said.

Hobby Lobby didn't immediately provide a comment to Business Insider.

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A number of customers were disappointed with the news, with some saying in Facebook comments that the coupon was the only reason that encouraged them to shop at Hobby Lobby, USA Today reported.

An online petition to reverse the decision is circulating on Change.org and was shared on Hobby Lobby's Facebook page.

"Yes they do have sales but sometimes you need that extra one thing at 40% off because it is at full price. This is why we love Hobby Lobby, for the little things," the petition read. "And in these trying times don't take that away from us."

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Customers can still use the coupon until March 14 because of the grace period, according to a blog by The Karzy Coupon Lady.

In April, the company said that it will furlough almost all store employees and "ending emergency leave pay and suspending use of company-provided paid time off benefits and vacation" as it struggled to keep its business afloat when the Coronavirus pandemic hit the country.

Read More: Hobby Lobby is closing all stores and furloughing 'nearly all' employees after it defied stay-at-home orders by quietly reopening locations around the nation