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The web grows faster than stores for Jo-Ann in Q2
In Q2 web sales grew 16%, while total sales increased by 4.7%.
Jo-Ann Stores Inc. had a pretty good second quarter for its online channel.
In a release of preliminary numbers for the second quarter ended July 31, Jo-Ann, No. 263 in the Internet Retailer Top 500 Guide, reported that web sales increased 16% to $8.7 million from $7.5 million in the second quarter of 2009.
Total sales, meanwhile, grew year over year 4.7% to $439.3 million from $419.4 million.
Same-store sales increased 4.4%.
The company didn’t release net income figures in its preliminary Q2 numbers. Internet Retailer calculates the web accounted for 2% of total sales compared with 1.8% in the prior year.
Jo-Ann, which will release its full earnings for the second quarter on Aug. 25, also reported that total sales for the first two quarters increased 4.6% to $919.6 million from $879.4 million.
Same-store sales increased 4.2%.
Jo-Ann didn’t release net income figures or web sales for the first two quarters.