Hancock Fabrics closing 30 stores

Baldwyn,Miss.– Craft and fabric retailer Hancock Fabrics said it will close 30 stores, representing approximately $18 million in annualized sales. A firm has been engaged to maximize recovery of lease commitments, and another company has been retained to run liquidation sales during the first quarter of 2007.

Hancock said on a four-week to four-week comparison, January same-store sales were down 4.0%. Comps dropped 4.9% for the fourth quarter, and fell 1.9% for all of 2006. Hancock Fabrics currently operates 403 stores in 40 states, and an online shop at www.hancockfabrics.com.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!