Jo-Ann Stores Releases 4Q Sales Results.

Jo-Ann Stores, Inc. reported recently that net sales for the fourth quarter ended January 29, increased 3.6 percent to $624.1 million compared to $602.2 million for the same period last year.

In a release on February 3, the Company noted that same-store sales increased 2.0 percent versus a same-store sales increase of 4.4 percent for the fourth quarter last year. Customer transactions increased 1.1 percent and average ticket increased 0.9 percent. Severe winter weather negatively impacted same-store sales by approximately 0.8 percent.

Large-format store net sales for the quarter increased 1.8 percent to $330.6 million compared to the same period last year. Same-store sales for large-format stores increased 0.7 percent compared with an increase of 3.1 percent in the fourth quarter last year. Small-format store net sales increased 4.6 percent to $277.6 million compared to the same period last year. Same-store sales for small-format stores increased 3.8 percent compared with an increase of 6.1 percent in the fourth quarter last year. Internet sales through Joann.com increased 29.3 percent to $15.9 million compared to the same period last year.

Sewing same-store sales increased 1.8 percent. The company continued to experience positive trends in the majority of its fabric and sewing notions product categories. Non-sewing same-store sales increased 2.5 percent due to growth in both craft and seasonal products.

Net sales for the fiscal year ended January 29, increased 4.4 percent to $2.079 billion versus $1.991 billion in the prior year. Same-store sales increased 3.5 percent for the fiscal year compared with a 3.1 percent increase last year.

Fourth Quarter Conference Call

The company will report earnings for its fourth quarter and fiscal year 2011 on March 9. In conjunction with the earnings release, investors are invited to listen to a pre-recorded earnings conference call to be broadcast over the Internet at 4:30 PM Eastern time. The earnings release will provide instructions on how to access the call.

Jo-Ann Stores, Inc. is a specialty retailer of fabrics and crafts, operating 751 stores in 48 states.

((Comments on this story may be sent to health@closeupmedia.com))