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Chain Reports
Posted by: Editors | January 4, 2007
* Hancock Fabrics. Same-store sales for December dropped 7.2 percent. Total sales for the month dropped to $41.8 million from $48.3 million last year. In addition to the same-store sales decline, the total-sales decrease was also due to having 43 fewer stores this year. Same-store sales for the year-to-date dropped 1.8 percent, including a 2.9 percent benefit from 40 stores that had been liquidated by the end of August in connection with store closing sale events and two other stores that closed earlier this month. Year-to-date total sales were $353.2 million compared to $371.4 million in 2005. The company now operates 403 stores in 40 states.
* Jo-Ann Stores. December same-store sales decreased 6.9 percent and net sales for the month decreased 5.9 percent to $257.5 million from $273.5 million last year. Year-to-date same-store sales decreased 5.8 percent and net sales dropped 2.8 percent to $1.693 billion from $1.742 billion. The company operates locations in 47 states with 641 Jo-Ann Fabric and Craft traditional stores and 173 Jo-Ann superstores.
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