JOANN Inc (JOAN) Tops Q3 EPS by 9c

JOANN Inc (NASDAQ: JOAN) reported Q3 EPS of $0.73, $0.09 better than the analyst estimate of $0.64. Revenue for the quarter came in at $611 million versus the consensus estimate of $619.58 million.

JOANN’s President and Chief Executive Officer, Wade Miquelon, stated: “Our business continues to demonstrate strong top and bottom line growth from pre-pandemic levels. I am most proud of the work our team has put in to overcome what are now well publicized and wide-spread supply chain challenges. As a result of proactive measures taken, we have enjoyed a very strong fall seasonal business and have robust holiday assortments ready to support our key fourth quarter customer demand. In addition, our digital platforms continue to be industry leading as evidenced by our growth in ecommerce sales versus pre-pandemic levels and expanded capabilities fueled by several strategic partnerships. We remain encouraged by the level of positive customer engagement with our brand and the potential of our strategies to deliver sustained growth.”

For earnings history and earnings-related data on JOANN Inc (JOAN) click here.

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