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Jo-Ann’s 4th Quarter Results
Posted by: BillGardner | February 7, 2008
Jo-Ann Stores reported today that net sales for the fourth quarter ended February 2, decreased 2.5 percent to $585.9 million from $600.8 million last year. However, last year included a 53rd week, which added $28.8 million to last year’s net sales results. On a comparable 13-week basis, fourth-quarter same-store sales increased 3.3 percent compared to a 6 percent decline last year.
Net sales for the year increased 1.5 percent to $1.879 billion from $1.851 billion last year. Same-store sales, on a comparable 52-week basis, increased 3.5 percent versus a 5.9 percent decrease last year. The company will release its fourth-quarter and year-end fiscal results on March 12.
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