The Top 500 apparel chain plans to expand its reserve online, pick up in store program, as well as its presence in China.
The web outpaced stores at Jo-Ann in Q2
In the second quarter of fiscal 2010, e-commerce revenue increased 5.6% compared with 4.1% for total revenue and 1.8% for comparable-store sales. The web accounted for just under 2% of sales in Q2.
Editor in Chief
Topics: business finance
The web easily outpaced growth in store sales for Jo-Ann Stores Inc. in the second quarter of fiscal 2010.
For the quarter ended Aug.1:
- E-commerce revenue grew 5.6% to $7.5 million from $7.1 million in the second quarter of fiscal 2009.
- Total sales increased year over year 4.1% to $419.4 million from $403.0 million.
- Same-store sales increased 1.8%.
- The web accounted for 1.8% of total revenue, the same as one year ago.
- Net loss decreased to $3.2 million from $11.7 million.
For the first two quarters:
- Web sales increased 11.1% to $17.0 million from $15.3 million.
- Total sales grew 3.6% to $879.4 million from $849.1 million.
- Same-store sales grew 1.4%.
- Net loss decreased to $5.4 million from $8.7 million.