On Aug. 29, Jo-Ann Stores
- Total sales jumped 7% to $388.5 million, with comps also rising 7%, thanks to an easy comparison.
- Earnings improved slightly at Jo-Ann Stores, but remained stitched deep in negative territory, with losses of $18.4 million, or $0.76 per share.
- Despite the massive losses, the company increased its full-year earnings outlook to a range of $0.60 to $0.70 per share.
- The Fool community is less confident about Jo-Ann's prospects, giving it a one-star rating (out of a possible five) in Motley Fool CAPS.
(Figures in millions, except per-share data.)
Income Statement Highlights
Q2 2008 |
Q2 2007 |
Change |
|
---|---|---|---|
Sales |
$388.5 |
$363.2 |
7% |
Net Profit |
($18.4) |
($21.2) |
N/A |
EPS |
($0.76) |
($0.90) |
N/A |
Diluted Shares |
24.3 |
23.5 |
3.7% |
Get back to basics with the income statement.
Margin Checkup
Q2 2008 |
Q2 2007 |
Change* |
|
---|---|---|---|
Gross Margin |
45.7% |
47.4% |
(1.8) |
Operating Margin |
(6.7%) |
(8.1%) |
N/A |
Net Margin |
(4.7%) |
(5.8%) |
N/A |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q2 2008 |
Q2 2007 |
Change |
---|---|---|---|
Cash + ST Invest. |
$16.7 |
$15.3 |
9.2% |
Inventory |
$507.9 |
$511.3 |
(0.7%) |
Liabilities |
Q2 2008 |
Q2 2007 |
Change |
---|---|---|---|
Accounts Payable |
$178.5 |
$166.5 |
7.2% |
Long-Term Debt |
$159.0 |
$225.0 |
(29.3%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
Hey, Jo-Ann, how about a cash flow statement? No? Bummer.
Free cash flow is a Fool's best friend.
Related Foolishness:
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. The Fool's disclosure policy is handy with a needle and thread.