Jo-Ann Stores' 4Q Sales Rise
February 8, 2011,
Comps rose 2.0% on top of a strong 4.4% gain in 2009's 4Q. Transactions were up 1.1% and average ticket got a 0.9% boost. The company said severe winter weather during the quarter, which ended Jan. 29, negatively hit comps by 0.8%.
For the fiscal year, sales increased 4.4% to $2.079 billion, with comps up 3.5%. The company will announced complete financial results March 9.