Jo Ann Fabrics Is Killing It In This Economy, Beats Street Estimates On Q4 Earnings

Jo Ann Fabrics

Photo: Jo Ann Fabrics

Jo Ann Stores (JAS), owner of Jo Ann Fabrics, just came out with their Q4 earnings.

And guess what? They were very solid.

Apparently, demand for cloth, mothballs and wood glue is on the rise. Fourth quarter revenue was $602.2 million versus a Street consensus of of 600.4 million. Same store sales are up 4.4%.

And their outlook is positive, too. Jo Ann Stores sees FY11 SSS up 2.5%-3.5% and earnings per share of $2.75 to $2.90 versus the consensus of $2.85.

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