diff --git a/src/compiler/compile/Component.ts b/src/compiler/compile/Component.ts
index a5a31c8070..5f06de8e21 100644
--- a/src/compiler/compile/Component.ts
+++ b/src/compiler/compile/Component.ts
@@ -1152,7 +1152,9 @@ export default class Component {
 			for (const specifier of specifiers) {
 				const variable = var_lookup.get(specifier.local.name);
 
-				if (!variable.mutated) variable.hoistable = true;
+				if (!variable.mutated || variable.subscribable) {
+					variable.hoistable = true;
+				}
 			}
 		}
 	}
diff --git a/test/runtime/samples/store-imports-hoisted/_config.js b/test/runtime/samples/store-imports-hoisted/_config.js
new file mode 100644
index 0000000000..251866e5ba
--- /dev/null
+++ b/test/runtime/samples/store-imports-hoisted/_config.js
@@ -0,0 +1,7 @@
+export default {
+	compileOptions: { dev: true }, // tests `@validate_store` code generation
+
+	html: `
+		<p>42</p>
+	`
+};
\ No newline at end of file
diff --git a/test/runtime/samples/store-imports-hoisted/foo.js b/test/runtime/samples/store-imports-hoisted/foo.js
new file mode 100644
index 0000000000..5d15213c3a
--- /dev/null
+++ b/test/runtime/samples/store-imports-hoisted/foo.js
@@ -0,0 +1,3 @@
+import { writable } from '../../../../store';
+
+export default writable(42);
\ No newline at end of file
diff --git a/test/runtime/samples/store-imports-hoisted/main.svelte b/test/runtime/samples/store-imports-hoisted/main.svelte
new file mode 100644
index 0000000000..223572962e
--- /dev/null
+++ b/test/runtime/samples/store-imports-hoisted/main.svelte
@@ -0,0 +1,7 @@
+<script>
+	import foo from './foo.js';
+	foo.bar = 'baz';
+	const answer = $foo;
+</script>
+
+<p>{answer}</p>