A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
The fabric and craft retailer reports $9.6 million in web sales.
Multichannel fabric and crafts retailer Jo-Ann Stores Inc. reported sales growth online and in stores.
For the third quarter ended Oct. 30, Jo-Ann, No. 263 in the Internet Retailer Top 500 Guide, reported:
- Online sales through Joann.com of $9.6 million, an 11.6% increase compared with $8.6 million in the same period last year.
- Total sales were $535.3 million, up by 5.1% from $509.1 million.
- Same-store sales increased 4.1% versus a same-store sales increase of 4.3% for the third quarter last year.
- Customer transactions increased 3.6%.
- Average ticket increased 0.5%.
Jo-Ann, which will report its full third quarter and nine month numbers Dec. 1, didn’t break out figures for net income.
Based on Internet Retailer calculations, the web accounted for 1.8% of sales in the third quarter, compared with 1.7% in Q3 of 2009.
For the first nine months of fiscal 2010, Jo-Ann reported:
- Web sales of $28.6 million, an 11.7% increase from $25.6 million in the same period of 2009.
- Total sales were about $1.46 billion, up by 5% from about $1.39 billion.
- Same-store sales increased 4.2%, compared with a 2.5% increase for the same period last year.
Based on Internet Retailer calculations, the web accounted for 2% of sales through the first nine months of 2010, compared with 1.8% in the same period in 2009.