Sun Feb 12 2012
by Laura Freeman
Reporter
Hudson -- Sales keep increasing with each quarter for JoAnn Stores Inc.
The company will release its second quarter earnings for fiscal 2011 on Aug. 25, but provided preliminary numbers Aug. 5.
The net sales for the second quarter ending July 31 increased 4.7 percent, with $439.3 million, compared to $419.4 million for the same period last year.
Net sales for the six-month period ending July 31 increased 4.6 percent compared to a 1.4 percent increase in the same period last year.
Same store sales increased 4.4 percents compared to a smaller increase of 1.8 percent for the second quarter last year. Same-store sales for the six-month period increased 4.2 percent compared to 1.4 percent for the same period last year.
Sales for both large-format and small-format stores increased for the quarter, as well as Internet sales.
Sewing sales increased 5.1 percent and all of the stores' fabric and sewing notions merchandise was strong in sales, according to the report. Non-sewing sales increased 3.5 percent due to growth in core craft merchandise categories.
JoAnn Stores has 752 locations in 48 states.
E-mail: lfreeman@recordpub.com
Phone: 330-688-0088 ext. 3150
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