Home / Knowledge / News / Apparel/Garments / Strategic initiatives drive Jo-Ann Q1 performance

Strategic initiatives drive Jo-Ann Q1 performance

29
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

Pic: Shutterstock

Apparel/Garments | On 28th Nov 2020

3 Bangla RMG firms present energy efficiency action plans

Small energy efficiency working groups (SEEWGs) of three top tier...

Pic: Shutterstock

Textiles | On 28th Nov 2020

Pak PM asks ministries to help textile sector meet demand

Pakistani Prime Minister Imran Khan recently directed the commerce...

Pic: Shutterstock

Apparel/Garments | On 28th Nov 2020

Rwanda's garment-textile exports grow by 83% in 2 years

Rwanda's textile and garment sector grew 83 per cent in value between ...

Interviews View All

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

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

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

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Cem Erdogrul,

Cem Erdogrul

Turkey-based Temsan Air Engineering is one of the leading manufacturers of ...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Himanshu Fogla,

Himanshu Fogla

Jumac, pioneers in spinning can manufacturing in India, was founded in...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

Leave your Comments


November 2020

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


Advanced Search