Jo-Ann Stores Announces 1.0% February Same-Store Sales Increase.Business Editors HUDSON, Ohio--(BUSINESS WIRE)--March 6, 2003 Jo-Ann Stores Jo-Ann Stores Inc. (NYSE: JAS) is a specialty retailer of crafts and fabrics based in Hudson, Ohio, United States. It operates the retail chains Jo-Ann Fabrics and Jo-Ann Etc. The headquarters of the company is located in the former General Motors Terex plant. , Inc. (NYSE NYSE See: New York Stock Exchange : JAS JAS James JAS Journal of Animal Science JAS Jamaica AIDS Support JAS Journal Abbreviation Sources JAS Japan Air System JAS Just A Second JAS Japanese Agricultural Standard JAS Jordanian Astronomical Society (Amman, Jordan) .A and JAS.B), the leading national fabric and craft retailer, reported today that February same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. increased 1.0%, versus a 14.7% same-store sales increase last year. February net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight decreased 1.2% to $108.4 million from $109.7 million for the same period last year, due to 39 less stores in operation compared with the prior year. The Company will report its fourth-quarter fiscal 2003 results on March 10, 2003. In conjunction with the earnings release, investors are invited to listen to the earnings conference call, to be broadcast live over the Internet at 4:30 p.m. Eastern time on March 10, 2003. In addition to a discussion of the Company's fiscal year 2003 results, management will provide an outlook for fiscal year 2004 on the conference call. To access the Internet broadcast, simply log on to Streetevents at http://www.streetevents.com or our Web site at http://www.joann.com (go to the top of our home page and click on "About Jo-Ann Stores," click on "Our Company" click on "Investor Relations Investor relations The process by which the corporation communicates with its investors. ," then click on the Conference Call icon). To listen to the live call, please go to the website at least 10 minutes before the call begins to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call and will be archived until Monday, March 17th. The replay may be accessed at http://www.joann.com and at http://www.streetevents.com or by phone at 800-642-1687, conference ID #8384794. Jo-Ann Stores, Inc. (http://www.joann.com), the leading national fabric and craft retailer with locations in 48 states, operates 846 Jo-Ann Fabrics and Crafts traditional stores and 72 Jo-Ann superstores. |
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