On March 6, Jo-Ann Stores
- Sales of $604 million beat estimates. They represent 2.7% growth over the prior-year quarter.
- Margins dropped across the board on lower selling prices and higher fixed costs for the new store format.
- The loss includes the effect of a $1.17-per-share charge for goodwill impairment, as well as an $0.08-per-share benefit for "gift card breakage."
(Figures in millions, except per-share data)
Income Statement Highlights
Avg. Est. | Q4 2006 | Q4 2005 | % Change | |
---|---|---|---|---|
Sales | $587 | $604 | $588 | 2.7 |
Net Profit | -- | $(18) | $32 | N/A |
EPS | $0.31 | $(0.78) | $1.40 | N/A |
Get back to basics with a look at the income statement.
Margin Checkup
Q4 2006 | Q4 2005 | Change | |
---|---|---|---|
Gross Margin | 41.93% | 45.39% | (3.46) |
Op. Margin | (1.47%) | 9.32% | NA |
Net Margin | (2.98%) | 5.49% | NA |
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.)
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Related Companies:
- Michaels Stores
(NYSE:MIK) - Wal-Mart
(NYSE:WMT) - Target
(NYSE:TGT) - AC Moore
(NASDAQ:ACMR) - Hancock Fabrics
(NYSE:HKF)
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At the time of publication, Seth Jayson had no positions in any company mentioned here. Fool rules are here.