Jo-Ann Stores (NYSE: JAS) reported Tuesday that its chief operating officer Travis Smith has been named president, according to Associated Press.
Smith will remain COO and continue to oversee marketing, inventory and store operations. He will also handle information technology when the move becomes official at the end of the month.
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The company said in December that third-quarter profit more than doubled, citing the help from holiday sales.
Smith, who was named COO in February last year, was hired from Fred Meyer, which is part of Kroger Co. (NYSE: KR).
Shares of Jo-Ann Stores Inc. rose $1 to $37.88 in afternoon trading on Tuesday.
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