On March 6, Jo-Ann Stores
- 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.)
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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.
