JOANN Inc (JOAN) Misses Q1 EPS by 32c

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Go back to JOANN Inc (JOAN) Misses Q1 EPS by 32c

JOANN Announces First Quarter Fiscal 2023 Results

June 2, 2022 4:15 PM EDT

The company continues to navigate challenged supply chains and inflationary environmentFirst quarter sales totaled $498 million for a total comparable sales decline of 12.9% (following a 15.0% increase in the first quarter last year)First quarter gross margin of 48.3% was impacted by 580 bps of excess import supply chain costs. Gross margin for the quarter improved by 140 bps on an adjusted basis

HUDSON, Ohio, June 02, 2022 (GLOBE NEWSWIRE) -- JOANN Inc. (NASDAQ:... More