Jo-Ann same-store sales up 4.3% in Q3

Hudson, Ohio Jo-Ann Stores said Thursday sales for the third quarter ended Oct. 31 increased 6.0% to $509.1 million, from $480.1 million for the same period last year. Based on better-than-expected results, the company increased its full year fiscal 2010 outlook.

Same-store sales increased 4.3% compared with a 1.5% same-store sales decrease for the third quarter last year. Traffic increased 4.9% while average ticket declined 0.6%.

Net sales for the nine-month period ended Oct. 31 were $1.39 billion versus $1.33 billion in the prior year. Same-store sales increased 2.5% for the nine-month period compared with a 1.9% increase for the same period last year.