Jo-Ann Stores Inc. (JAS) announced a second quarter EPS loss of $0.13 after the close Wednesday, compared to the loss of $0.47 posted last year. The consensus estimate was for a loss of $0.39. The company expects to report full year 2010 EPS of $1.35 to $1.50, compared to the consensus estimate of $1.37.
Jo-Ann Stores gapped open sharply higher Thursday, but traded in a range for the majority of the session. The stock closed up by $2.19 at $27.84 on strong volume. Jo-Ann Stores has been climbing since early July and finished at a new high for the year.
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