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Stocks J / Jo-Ann Stores, Inc.


Subject:  Jo-Ann Stores Problems Date:  5/9/2001  12:23 AM
Author:  MaryLou51 Number:  21 of 43

I have been a Jo-Ann's employee for 9 years and have enjoyed the ASOP plan in buying stock at a discount. It does seem that the company has put more attention and money into acquisitions in recent years than into its people and stores. The company uses mainly direct mail marketing (preaching to the converted) and usually ignores new markets and audiences (how about something geared towards teenagers? Or to the harried Mother who finds out her kid has a Home Ec project the next day?). I am quite sorry to see the stock price go down. I have not yet exited the ASOP plan and sold my stock, but watching it go from about 14.00 when I began to its present 3.00 is sad indeed.
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