Jo-Ann Stores sews up a 17.4% web sales increase
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.