EXHIBIT 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

CONTACT:                                            Investor Relations:
        Brian Carney                                Don Tomoff
        Executive Vice President, CFO               Vice President, Finance
        Jo-Ann Stores, Inc.                         Jo-Ann Stores, Inc.
        330-656-2600                                330-463-6815


          JO-ANN STORES ANNOUNCES 3.5% APRIL SAME-STORE SALES INCREASE

- -        SAME-STORE SALES FOR THE FIRST QUARTER INCREASED 2.6% VERSUS A 13.5%
         INCREASE LAST YEAR

- -        $46 MILLION OF 10-3/8% SENIOR SUBORDINATED NOTES REPURCHASED IN THE
         FIRST QUARTER

- -        EARNINGS FOR FIRST QUARTER, BEFORE CHARGE FOR DEBT REPURCHASED,
         EXPECTED TO BE AT THE LOW TO MID-POINT OF PREVIOUS EARNINGS GUIDANCE
         RANGE

HUDSON, OH--May 8, 2003 - Jo-Ann Stores, Inc. (NYSE: JAS.A and JAS.B), the
leading national fabric and craft specialty retailer, reported today that April
same-store sales increased 3.5%, versus a 19.6% same-store sales increase last
year. April net sales increased 1.7% to $119.2 million from $117.2 million for
the same period last year.

Same-store sales for the first quarter, ended May 3, 2003, increased 2.6%
compared with a 13.5% same-store sales increase for the same period last year.
Net sales for the first quarter increased 0.7% to $374.8 million from $372.4
million in the prior year.

The Company repurchased approximately $46 million of its 10-3/8% senior
subordinated notes ("Notes") during the first quarter, at an all-in price of
approximately 105.4% of face value. Approximately $77 million of the Notes
remain outstanding. In connection with these repurchases, the Company will
record a pre-tax charge of $3.4 million to recognize the premium paid and to
write-off the related deferred finance charges. Annual interest savings, based
on current LIBOR rates, are estimated to be $3.7 million. Interest savings for
the balance of fiscal year 2004 are estimated to be $2.7 million.

First Quarter Earnings Outlook

Although the Company was able to successfully anniversary difficult same-store
sales comparisons in the first quarter and sustain a positive same-store sales
increase, the sales performance was aided by aggressive promotions of seasonal
and clearance product. While successful at driving top-line growth, selling
gross margins were




negatively impacted. As a result, the Company expects first quarter earnings,
before the charge associated with the repurchase of the Notes, to be in the
range of $0.32 to $0.34 per diluted share.

The Company will announce earnings for its first quarter and provide an update
to its earnings outlook for the balance of the fiscal year on May 19, 2003. In
conjunction with the first quarter earnings release, investors are invited to
listen to the earnings conference call to be broadcast live over the Internet at
4:30 PM Eastern time on May 19, 2003. The earnings release will provide
instructions on how to access the call.

Jo-Ann Stores, Inc. (http://www.joann.com), the leading national fabric and
craft specialty retailer with locations in 48 states, operates 840 Jo-Ann
Fabrics and Crafts traditional stores and 77 Jo-Ann superstores.



This press release contains forward-looking statements that are subject to
certain risks and uncertainties. Our actual results, performance or achievements
may materially differ from those expressed or implied in the forward-looking
statements. Risks and uncertainties that could cause or contribute to such
material differences include, but are not limited to, general economic
conditions, changes in customer demand, changes in trends in the fabric and
craft industry, seasonality, the availability of merchandise, changes in the
competitive pricing for products, and the impact of our and our competitors
store openings and closings, fuel and energy costs, changes in tariff and
freight rates, consumer debt levels, and other capital market and geo-political
conditions. Other important factors that may cause actual results to differ
materially from those expressed in the forward-looking statements are discussed
in the Company's Securities and Exchange Commission filings.



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