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Jo-Ann’s Announces Year-End Results
Posted by: Editors | February 8, 2007
For the fiscal year ended February 3, same-store sales decreased 5.9 percent. Net sales dropped from $1.883 billion to $1.851 billion, a 1.7 percent decline. Though there was an extra week in the fiscal year, same-store sales were based on a comparable 52-week basis.
Net sales for January increased 12.5 percent to $158 million from $140.4 million last year. The 53rd week in the fiscal year added $28.8 million to the year’s net sales. On a comparable four-week basis, January same-store sales decreased 6.3 percent.
On a comparable 13-week basis, fourth-quarter same-store sales dropped 5.9 percent. Net sales dropped 0.5 percent to $600.8 million from $604.1 million.
Topics: Industry News |
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