Hancock posts gains in profits, sales
May 21, 2003,
Tupelo, MS — With sales and margins both climbing higher, first-quarter profits at Hancock Fabrics, a diversified crafts and fabric retailer, climbed by 8.8 percent, to $4.1 million from $3.7 million last year.
Sales advanced by 3.4 percent, to $107.6 million from $104.1 million, somewhat beneath the company's expectations, stymied by weather and the war in Iraq. Same-store sales rose by 4.2 percent, compared with a 7.4 percent increase in the same period a year ago.
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