Jo-Ann's Full-Year Flop: Fool by Numbers

On March 6, Jo-Ann Stores (NYSE: JAS  ) released FY 2006 earnings for the period ended Jan. 28, 2006.
  • Sales of $1.9 billion beat estimates. They represent 3.9% growth over the prior-year quarter. For the year, same-store sales decreased 0.8%.
  • Margins dropped across the board on lower selling prices and higher fixed costs for Jo-Ann's new store format.
  • The loss included the effect of a $1.19-per-share charge for goodwill impairment.

(Figures in millions, except per-share data)

Income Statement Highlights

Avg. Est.

FY 2006

FY 2005

% Change

Sales

$1,870

$1,883

$1,812

3.9

Net Profit

--

$(23)

$46

N/A

EPS

$0.09

$(1.01)

$2.02

N/A



Get back to basics with a look at the income statement.

Margin Checkup

FY 2006

FY 2005

Change

Gross Margin

45.63%

47.57%

(1.93)

Op. Margin

0.40%

4.85%

(4.45)

Net Margin

(1.22%)

2.55%

N/A



Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

% Change

Cash+ ST Invest.

$18

$80

(77.5)

Inventory

$515

$440

17.1

Other Cur Assts.

$35

$22

57.8



Liabilities

Q4 2006

Q4 2005

% Change

Long-Term Debt

$204

$100

103.7

Accounts Pay.

$147

$167

(12.3)



Cash Flow Highlights

Data not provided. (Wicked lame.)

Find out why Fools always follow the money.

Related Companies:

  • Michaels Stores (NYSE: MIK  )
  • Wal-Mart (NYSE: WMT  )
  • Target (NYSE: TGT  )
  • AC Moore (Nasdaq: ACMR  )
  • Hancock Fabrics (NYSE: HKF  )

Turnaround possibilities like Jo-Ann Stores are always on the "hmmm" list atMotley Fool Inside Value. Take a look at companies that have already made the cut with a free guest pass.

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 checkFool.comfor more of our in-depth discussion of what the numbers mean.

At the time of publication, Seth Jayson had no positions in any company mentioned here. Fool rules are here.


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