Jo-Ann Stores Raises Full-year Outlook
Stock quotes in this article:
JAS
HUDSON, Ohio (AP) Fabric and craft retailer Jo-Ann Stores Inc. on Wednesday raised its full-year profit outlook as it reported second-quarter results that beat Wall Street expectations.
The company now expects earnings of $1.35 to $1.50 per share, up from guidance in May of between 75 cents and 85 cents per share. Analysts polled by Thomson Reuters, on average, expect profit of $1.10 per share. The company expects sales in stores open at least one year to be flat to up 1 percent. The increase came as the company reported a smaller-than-expected fiscal second-quarter loss as sales improved. Shares rose $1.85, or 7.2 percent, to $27.50 in aftermarket trading.- Loading Comments...
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