For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
The multichannel fabric and crafts retailer saw web and total sales rise in 2010.
Jo-Ann Stores Inc. had a good year online.
For the fiscal year ended Jan. 29, Jo-Ann reported:
- E-commerce sales of $44.5 million, up by 17.4% from $37.9 million in 2009.
- Total sales of $2.07 billion, a 3.5% increase from $2 billion in the prior year.
- Same-store sales increased 3.5% for the fiscal year compared with a 3.1% increase last year.
Internet Retailer estimates the web accounted for 2.1% of total sales in 2010, compared with 1.9% in 2009.
Jo-Ann Stores operates JoAnn.com, No. 263 in the Internet Retailer Top 500 Guide.
The company says it will announce full-year and Q4 earnings March 9.
For the fourth quarter, Jo-Ann reported:
- Web sales of $15.9 million, a 29.3% increase from $12.3 million in the prior year quarter.
- Total sales were $624.1 million, up year over year by 3.6% from $602.2 million.
- Same-store sales increased 2% compared with a same-store sales increase of 4.4% for the fourth quarter last year.
- Large-format store total sales increased 1.8% to $330.6 million, compared with about $324.8 million in the fourth quarter last year.
- Same-store sales for large-format stores increased 0.7% compared with an increase of 3.1% in the prior year quarter.
- Small-format store total sales of $277.6 million, up by 4.6% from about $265.4 million.
- Same-store sales for small-format stores increased 3.8% compared with an increase of 6.1% in the fourth quarter last year.
Internet Retailer estimates the web accounted for 2.5% of total sales in Q4 of 2010, compared with 2.0% in the prior year quarter.
Jo-Ann operates 751 stores in 48 states.