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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at