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.

Interviews View All

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Top executives, Association

Top executives

'Support and Outreach' huge relief for MSMEs

Xavier Martinez,

Xavier Martinez

CADT Software & Drafting was founded in Spain in 1987 by Josep...

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Kevin Nelson, TissueGen

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

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

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Amiben Shroff, Shrujan

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

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


Leave your Comments

November 2019

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

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search