Jo-Ann Stores, Inc. (NYSE:JAS) has released the financial results for the third quarter of 2010. The company’s net income was $24.1 million, or $0.90 per diluted share, compared to the 2008 third quarter $10.2 million, or $0.40 per diluted share. Net sales for the quarter have increased to 6.0% to $509.1 million from the $480.1 million earned during the comparable period of the previous year.
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The financial results are available on the company’s website, http://www.joann.com/. A webcast of the third quarter earnings conference call is also available on the site. To listen to an audio replay of the call, dial 800.642.1687 and enter the conference ID #40533836.
Jo-Ann Stores, Inc. (JoAnn Stores) is a specialty retailer of fabrics and crafts, serving customers in their pursuit of apparel and craft sewing, crafting, home decorating and other creative endeavors. The Company's retail stores (operating as Jo-Ann Fabric and Craft stores and Jo-Ann stores) and Website (www.Joann.com) feature a variety of merchandise used in sewing, crafting and home decorating projects, including fabrics, notions, crafts, frames, paper crafting material, artificial floral, home accents, finished seasonal and home decor merchandise. As of January 31, 2009, the Company operated 764 stores in 47 states (554 small-format stores and 210 large-format stores).
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