Jo-Ann Stores now fully owns Joann.com

HUDSON, Ohio Jo-Ann Stores announced today that it has signed a letter of intent to purchase the remaining 62% interest of IdeaForest.com Inc., the parent company of Joann.com.

"Since launching Joann.com with IdeaForest in 2000, we have developed a strong presence on the internet. Our site combines inspiration and commerce to make Joann.com the creative industry leader online," said Darrell Webb, chairman, president, and ceo of Jo-Ann Stores.. "By more closely integrating the online business with our brick and mortar stores, we will not only improve customer satisfaction, but also deliver earnings accretion for shareholders."

According to the company, Joann.com attracts an average of 2 million unique visitors per month and offers 65,000 products for the creative enthusiast including fabric, sewing and quilting items, scrapbooking supplies, crafts, knitting and crochet materials, and home decor goods.