Jo-Ann sales up 5.3% in Q4

Hudson, Ohio Jo-Ann Stores reported net sales for the fourth quarter ended Jan. 30, increased 5.3% to $602.2 million, from $571.9 million for the same period last year.

Same-store sales increased 4.4%, compared with a 2.9% same-store sales decrease for the fourth quarter last year. Traffic increased 3.0% and average ticket increased 1.4%.

Large-format store net sales for the quarter increased 7.9% to $323.8 million, compared with the same period last year. Same-store sales for large-format stores increased 3.1% compared with a decrease of 4.1% in last year’s fourth quarter.

Small-format store net sales increased 2.6% to $266.1 million, compared with the same period last year. Same-store sales for small-format stores increased 6.1%, compared with a decrease of 1.4% for the same period last year.

Internet sales through Joann.com of $12.3 million were flat compared with the same period last year.

Net sales for the fiscal year period ended Jan. 30, increased 4.7% to $1.99 billion versus $1.90 billion in the prior year. Same-store sales increased 3.1% compared with a 0.5% increase last year.

The company will provide its fiscal year 2011 outlook in the fourth-quarter earnings release scheduled for March 10.