Jo-Ann's Mixed Results: Fool by Numbers
By Mike Cianciolo
June 1, 2007
On May 30, Jo-Ann Stores (NYSE: JAS) released earnings for the first quarter ended May 5.
-
Earnings improved, but were still negative, as the fabrics and crafts retailer lost $1.7 million.
- Total sales fell 0.1%, but same-store sales were up 1.8%, thanks to an easy comparison. And those sales were more productive, as the gross and operating margins improved.
- The company expects to earn $0.55 to $0.65 per share for the year -- right around the estimates of $0.60 per share.
- Jo-Ann Stores is a one-star stock (out of a possible five) in Motley Fool CAPS.
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q1 2008
|
Q1 2007
|
Change
|
|
Sales
|
$424.2
|
$424.7
|
(0.1%)
|
|
Net Profit
|
($1.7)
|
($6.6)
|
N/A
|
|
EPS
|
($0.07)
|
($0.28)
|
N/A
|
|
Diluted Shares
|
24.0
|
23.3
|
3.1%
|
Get back to basics with the income statement.
Margin Checkup
|
Q1 2008
|
Q1 2007
|
Change*
|
|
Gross Margin
|
47.3%
|
46.6%
|
0.7
|
|
Operating Margin
|
0.0%
|
(2.1%)
|
2.1
|
|
Net Margin
|
(0.4%)
|
(1.6%)
|
N/A
|
*
Expressed in percentage pointsMargins are the earnings engine.
Balance Sheet Highlights
Assets | Q1 2008 | Q1 2007 | Change |
|---|
Cash + ST Invest. | $19.9 | $26.1 | (23.8%) |
Inventory | $434.9 | $463.0 | (6.1%) |
Liabilities | Q1 2008 | Q1 2007 | Change |
|---|
Accounts Payable | $134.5 | $131.7 | 2.1% |
Long-Term Debt | $117.8 | $190.0 | (38.0%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
Looks like somebody forgot to stitch together a cash flow statement for the release.
Free cash flow is a Fool's best friend.
Related Foolishness:
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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication, Fool contributor Mike Cianciolo held no position in Jo-Ann Stores.
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