Home / Knowledge / News / Apparel/Garments / Strategic initiatives drive Jo-Ann Q1 performance
Strategic initiatives drive Jo-Ann Q1 performance
May '08
Jo-Ann Stores Inc announced financial results for its fiscal 2009 first quarter ended May 3, 2008. Net earnings for the quarter were $3.0 million, or $0.12 per diluted share, versus a net loss of $1.7 million, or $0.07 loss per share in fiscal 2008.

Net sales for the first quarter increased 5.2% to $446.1 million from $424.2 million in the prior year. Same-store sales increased 4.5% compared with a 1.8% increase for the same period last year.

Large-format stores net sales for the quarter increased 5.0% to $230.2 million from $219.3 million last year. Same-store sales for large-format stores increased 3.3%, compared with an increase of 3.0% for the same period last year. Small-format stores net sales for the quarter increased 1.4% to $207.7 million from $204.9 million last year. Same-store sales performance for small-format stores increased 5.8% compared with an increase of 0.8% for the same period last year.

"I am very pleased with our first quarter results and encouraged to see so many initiatives from our Strategic Plan driving the improved performance. This was our fifth consecutive quarter of same-store sales improvement and seventh consecutive quarter of increasing earnings per share.

The current economic environment remains uncertain, but we will continue to focus on executing our strategic initiatives and enhancing our competitive position to deliver balanced and consistent performance throughout fiscal 2009 and beyond," said Darrell Webb, chairman, president and chief executive officer.

Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search