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I realize this is an obscure name, but does anyone know what the story is with Jo-Ann's financial condition. There is a rumor that they may be in violation of their bank covenants??
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Obsure, yes, but I'm very interested in what's going on with JAS.A. This company has done very, very well for me, although I've been out of retail markets for a year. The current price looks to be a real bargain. Any comments would be welcome.

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Having recently visited a few Joann regular stores
and then the newer ETC stores--it's hard to believe
they will keep the regular ones expanding at all.
Their debt is wild. They continue to close stores
down that are near new ETC stores. I don't think
Joann's is doing as well as they appear. Mae's Fabrics
was in the middle of a major renovation right before
they went bankrupt. The fabric industry ain't what
it use to be.

fabricgal
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I tend to agree with you, but don't the ETC stores offer a larger variety of merchandise, closer to the mix that Michael's has...or is it just more fabric...if the larger stores appeal to a broader demo, than the store rationalization may be a good thing in the long term...unless their debt load gets them first...
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The JoAnn etc stores have a wide product mix--
no doubt. Though, I have asked friends who do not sew
what that store is as we drive by and they have not a
clue. Due to JOANN's varied product mix they have
un-defined themselves and entered extremely competitive
areas(crafts, Home accents, art supplies, frames,floral
Children's toys). Re-defining will be very expensive--
if not fatal--in my opinion.
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Jo-Ann's has invested in a new inventory replenishment system which has caused huge problems since the day it was put into use. The system has never been put to the test in a company with so many SKU's. Stores are experiencing serious out-of-stock and replenishment issues with this new system. As a result, sales are suffering.

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