Jo-Ann Stores Same-Store Sales Up

Hudson, Ohio Jo-Ann Stores Inc. announced its financial results on Wednesday for its fiscal 2008 fourth quarter and full year ended Feb. 2.

Net sales for the fourth quarter decreased 2.5% to $585.9 million compared to the same period last year. On a comparable 13-week basis, 4Q same-store sales increased 3.3% vs. a same-store sales decrease of 6.0% in last year’s fourth quarter.

According to the company, large-format stores net sales for the quarter decreased 1.5% to $293.2 million, compared to the same period last year. On a comparable 13-week basis, same-store sales for large-format stores increased 2.4%, vs. a decrease of 7.2% in last year’s fourth quarter. Small-format stores net sales decreased 7.4% to $280.8 million compared to the same period last year. On a comparable 13-week basis, same-store sales for small-format stores increased 4.2% vs. a decrease of 5.1% in last year’s fourth quarter.