Home / Knowledge / News / Textiles / Jo-Ann posts Q4 & fiscal year 2010 results
Jo-Ann posts Q4 & fiscal year 2010 results
15
Mar '10
Jo-Ann Stores, Inc. announced financial results for its fiscal 2010 fourth quarter and full year ended January 30, 2010. Net income for the quarter was $37.1 million, or $1.36 per diluted share, versus net income of $20.4 million, or $0.79 per diluted share for the fourth quarter last year. The prior year fourth quarter net income included a $1.3 million after-tax gain, or $0.05 per diluted share, related to the purchase of a portion of the company's senior subordinated notes. Excluding this gain, net income for the prior year fourth quarter was $19.1 million, or $0.74 per diluted share.

Net income for the full fiscal year ended January 30, 2010, was $66.6 million, or $2.51 per diluted share, compared with net income of $21.9 million, or $0.86 per diluted share, in the prior year. The current fiscal year net income includes a $0.8 million after-tax gain, or $0.03 per diluted share, related to the purchase of a portion of the company's senior subordinated notes. Excluding this gain, net income for the fiscal year was $65.8 million, or $2.48 per diluted share. The prior fiscal year net income included a $2.6 million after-tax gain, or $0.10 per diluted share, related to the purchase of a portion of the company's senior subordinated notes. Excluding this gain, net income for the prior fiscal year was $19.3 million, or $0.76 per diluted share.
Net sales for the fourth quarter increased 5.3% to $602.2 million from $571.9 million for the same period last year. Same-store sales increased 4.4% compared with a 2.9% same-store sales decrease for the fourth quarter last year.

Large-format store net sales for the quarter increased 7.9% to $323.8 million compared to the same period last year. Same-store sales for large-format stores increased 3.1% compared with a decrease of 4.1% in the same period last year. Small-format store net sales for the quarter increased 2.6% to $266.1 million compared to the same period last year. Same-store sales for small-format stores increased 6.1% compared with a decrease of 1.4% for the same period last year. Internet sales through Joann.com of $12.3 million were flat compared to the same period last year.

Net sales for the fiscal year ended January 30, 2010, increased 4.7% to $1.99 billion versus $1.90 billion in the prior year. Same-store sales increased 3.1% compared with a same-store sales increase of 0.5% last year.

Large-format store net sales for the fiscal year ended January 30, 2010, increased 7.5% to $1.07 billion compared to the prior year. Same-store sales for large-format stores increased 1.4% versus a same-store sales decrease of 1.0% last year. Small-format store net sales for the fiscal year increased 1.4% to $879.9 million compared to the prior year. Same-store sales for small-format stores increased 5.1% versus a same-store sales increase of 2.1% last year. Internet sales increased 6.2% to $37.9 million for the fiscal year compared with $35.7 million in the prior year.


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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