Jo-Ann psyched about superstore
March 8, 2005,
HUDSON, Ohio – Following last year’s rollout of superstores, Jo-Ann Stores Inc. is plunging forward with the revamped store format this new fiscal year and making inventory adjustments to improve its future sales performance, the company said during its fourth quarter and year-end call late yesterday.
Superstores are projected to represent about 40 percent of total company revenue this fiscal year, which began in February. The company said it will open about 40 new superstores — 11 of which are slated to open this first quarter — and close about 50 traditional units.
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