On May 30, Jo-Ann Stores
- 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 |
Margins 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:
- Foolish Forecast: Patchwork Quilt at Jo-Ann Stores
- Jo-Ann Stores Redecorates
- Jo-Ann's Threadbare Days
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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.
