That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
Jo-Ann Stores Inc. posted a moderate increase in Q3 web sales. E-commerce sales increased 6.2%, while total revenue and same-store sales increased 6% and 4.3%, respectively.
Jo-Ann Stores Inc. posted a moderate increase in third quarter web sales.
For the quarter ended Oct. 31, Jo-Ann, No. 256 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 6.2% to $8.6 million from $8.1 million.
- Total revenue grew 6.0% to $509.1 million from $480.1 million.
- The web accounted for 1.7% of total sales in Q3 and in the prior year’s quarter.
- Same-store sales increased 4.3%.
- Joann, which will report its full third quarter numbers Dec. 2, didn’t break out figures for net income. “The company continued to experience strength in the majority of its fabric and sewing notions merchandise categories,” Jo-Ann says.
For the first three quarters, Jo-Ann reported:
- Web sales increased 9.4% to $25.6 million from $23.4 million.
- Total revenue grew 4.5% to $1.39 billion from $1.33 billion.
- Same-store sales increased 2.5%.