Jo-Ann says soft home hurt quarter
August 16, 2005,
HUDSON, Ohio -- Jo-Ann Stores, Inc. is counting on its growing supercenter format and a focus on areas like crafts and yarn to spur sales in the second half of the year, company executives said during its second quarter conference call today.
Jo-Ann reported a net loss for its second fiscal quarter of $5.1 million compared with a net income of $0.3 million last year. Sales rose 3.5 percent to $383.8 million, with comps down 0.5 percent versus a 3.1 percent increase last year.
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