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From its beginnings as an imported cheese store in Cleveland opened by Hilda and Berthold Reich and friends Sigmund and Mathilda Rohrbach, Jo-Ann Fabrics has evolved to become the go-to place for consumers looking to find great product selection and knowledgeable customer service with a clear focus on value. 

 

 

 

 

Profile
  • Headquarters: Hudson, Ohio
  • Founding year: 1943
  • Number of locations as of January 2011: 751
  • FY 2011 net sales: $2.079 billion
  • FY 2011 average net sales per store: $4.8 million

From its beginnings as an imported cheese store in Cleveland opened by Hilda and Berthold Reich and friends Sigmund and Mathilda Rohrbach, Jo-Ann Fabrics has evolved to become the go-to place for consumers looking to find great product selection and knowledgeable customer service with a clear focus on value.

For 2011, Jo-Ann Fabric and Craft Stores plans to open 60 new locations, as well as remodeling 60 stores. “As we open these new stores, we are pleased to offer our customers dynamic new product lines, enhanced in-store presentations, higher quality fabrics, and regionalized product offerings,” said Darrell Webb, chairman and CEO for Jo-Ann Stores. “Combined with the expertise of our store team members, product demonstrations, and project inspiration, these new stores will be a one-stop creative destination in their communities.”

Indeed, the mission of Jo-Ann is to spark the creativity that lives in every person. Its vision is to be the best fabric and craft retail brand for its customers, its team members, its communities, and its investors. Its values spell out I Care and include: inspiration, compassion, accountability, respect, and engagement. And it’s a mission customers are responding well to.

Net sales for Q3 fiscal 2011, which ended October 30, 2010, showed Jo-Ann’s large-format (more than 24,000 square feet) store net sales increased from $509.1 million to $535.3 million over the course of the year. In addition, during Q3, the company opened one large-format stores and nine small-format stores.

Said Webb: “We achieved another quarter of record performance, driven by balanced improvement in same-store sales, gross margin, and expense leverage. We also continue to be encouraged by the results in our new and remodeled stores, causing us to again increase our plan for both new store openings and remodel projects in fiscal 2012. As we look ahead, our strong balance sheet provides a solid foundation from which we can fund and execute the strategic initiatives that have fueled our growth and marketshare gains in recent years.”

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