August 27, 2009, 12:00 AM

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.

Don Davis

Editor in Chief

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.
“We continue to be encouraged by the sales trends in our core sewing and craft categories, which we believe point to sustainable long-term growth for our business,” says Darrell Webb, CEO of Jo-Ann, No. 256 in the Internet Retailer Top 500 Guide to Retail Web Sites. “Seasonal products continue to experience sales declines and we have limited visibility into how customers will respond as we move into the second half of the year, when this category becomes a more important component of our business.”

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.

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