Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
| | | | | |
| CONTACT: | | Brian Carney | | Investor Relations: |
| | Executive Vice President, CFO | | Don Tomoff |
| | Jo-Ann Stores, Inc. | | Vice President, Finance |
| | 330/656-2600 | | Jo-Ann Stores, Inc. |
| | http://www.joann.com | | 330/463-6815 |
JO-ANN STORES ANNOUNCES
6.8% SAME-STORE SALES INCREASE IN JUNE
HUDSON, OH — July 8, 2004 — Jo-Ann Stores, Inc. (NYSE: JAS), the leading national fabric and craft retailer, reported today that June net sales increased 7.0% to $146.0 million from $136.4 million in the same period last year. June same-store sales increased 6.8% versus a same-store sales decrease of 2.5% in June last year
Through the first nine weeks of the second quarter, net sales increased 4.9% to $256.9 million from $244.8 million for the same period last year. Same-store sales increased 4.7% for the nine weeks quarter-to-date versus a same-store sales decrease of 0.4% for the same period last year.
Year-to-date net sales increased 6.8% to $661.8 million from $619.7 million in the prior year. Same-store sales increased 5.8% year-to-date versus a 1.4% same-store sales increase for the same period last year.
Jo-Ann Stores, Inc. (http://www.joann.com), the leading national fabric and craft retailer with locations in 47 states, operates 770Jo-Ann Fabrics and Craftstraditional stores and 97Jo-Annsuperstores.
