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Jos. A. Banks fall short of estimates
Hampstead, Md. -- Jos. A. Banks posted a profit of $12.6 million during the fiscal 2010 third quarter ended Oct. 30, compared with a profit of $11.7 million in the year age period. It was the 36th quarter out of the past 37 with earnings growth compared with prior year periods.
Revenue increased 7.4% to $173.3 million from $161.3 million a year ago. Same-store sales increased 3% in the quarter.
Both earnings and sales trailed analysts’ estimates.
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Jo-Ann profit up in Q3, to accelerate openings and remodels in fiscal 2012
Hudson, Ohio -- Jo-Ann Stores reported net income for its fiscal 2011 third quarter ended Oct. 30, of $29.1 million, up from $24.1 million in the year ago period. The retailer also raised its full-year outlook.
Net sales for the third quarter increased 5.1% to $535.3 million, from $509.1 million last year. Same-store sales increased 4.1%.
Chairman and CEO Darrell Webb said the chain was encouraged by the results in its new and remodeled stores, and was increasing its plan for both new store openings and remodel projects in fiscal 2012.