Jo-Ann Stores, Inc. (JAS) reported net income for the third quarter of $24.1million or $0.90 per share, compared to $10.2 million or $0.40 per share in the year-ago quarter.
Non-GAAP pro forma net income for the quarter rose to $24.0 million or $0.90 per share from $8.9 million or $0.35 per share in the same quarter last year.
Net sales for the third quarter increased 6.0% to $509.1 million from $480.1 million for the same period last year.
Same-store sales increased 4.3% compared with a 1.5% same-store sales decrease for the third quarter last year.
On average, analysts polled by Thomson Reuters expected the company to earn $0.89 per share, on revenues of $509.10 million for the quarter. Analysts estimates typically exclude special items.
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