Jo-Ann Stores (JAS) Reports Better-Than-Expected Q2 Sales
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Jo-Ann Stores, Inc. (NYSE: JAS) reported that net sales, for the second quarter ended August 4, 2007, increased 7.0% to $388.5 million from $363.2 million in the prior year. Same-store sales for the quarter increased 7.0% versus a same-store sales decrease of 8.4% for the second quarter last year. (Consensus is $370.82 million for Q2)
Net sales for the six-month period ended August 4, 2007 were $812.7 million versus $787.9 million for the same period in the prior year. Year-to-date same-store sales increased 4.2% versus a same-store sales decrease of 6.0% for the same period last year.
Net sales for the six-month period ended August 4, 2007 were $812.7 million versus $787.9 million for the same period in the prior year. Year-to-date same-store sales increased 4.2% versus a same-store sales decrease of 6.0% for the same period last year.
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