Welcome to our dedicated page for JOANN news (Ticker: JOAN), a resource for investors and traders seeking the latest updates and insights on JOANN stock.
JOANN Inc. (NASDAQ: JOAN) is the leading retailer in the sewing, fabrics, and arts & crafts sector in the United States. Founded in 1943 in Cleveland, Ohio, JOANN has expanded to over 829 stores across 49 states, with a robust e-commerce platform that further extends its reach.
JOANN provides a wide range of products including fabrics, sewing supplies, home décor, and craft materials, catering to both hobbyists and professional creators. The company aims to be the go-to source for all creative needs, helping customers find their 'Creative Happy Place' with the supplies, guidance, and inspiration they require.
Recently, JOANN has been focusing on its strategic priorities which include expanding their product offerings, enhancing e-commerce capabilities, and improving operational efficiencies. This includes leveraging advanced data analytics to react quickly to market trends and customer needs. Their innovative
Rhea-AI Summary
JOANN Inc. has received court approval for its prepackaged financial recapitalization plan, expecting to emerge from the court-supervised process with the lowest level of debt in over a decade. The company's more than 800 store locations remain open, and JOANN.com continues to offer supplies for creative needs. The restructuring aims to preserve the jobs of over 18,000 Team Members, with a focus on enhancing customer experience, product assortments, and overall financial stability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-27.27%
Tags
-
Rhea-AI Summary
JOANN Inc. announces a Transaction Support Agreement to strengthen its financial position, reduce debt by $505 million, and secure $132 million in new financing. The company continues to operate normally, with commitments to pay all obligations to employees, vendors, landlords, and trade creditors in full. JOANN will become a private company post-restructuring, with stores and website operating as usual.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-20.57%
Tags
-
Rhea-AI Summary
Crocs, Inc. announced the retirement of Michelle Poole, EVP & President of the Crocs Brand, after a 32-year career. Anne Mehlman, the current EVP & Chief Financial Officer, will be promoted to EVP & President of the Crocs Brand. The company is also searching for a new Chief Financial Officer. The company is maintaining its preliminary 2024 outlook and will report fiscal 2023 fourth-quarter and full-year results on February 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
JOANN Inc. (NASDAQ: JOAN) has announced a new partnership with non-profit organization Loose Ends Project, aiming to ease grief, create community, and inspire generosity. The partnership will offer exclusive discounts for Project Finishers, in-kind product donations, and designated meet up spots at all JOANN locations nationwide. JOANN will also host a point-of-sale campaign in February 2024 to benefit the mission of Loose Ends Project.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
-
Rhea-AI Summary
JOANN Inc. (NASDAQ: JOAN) reported third quarter fiscal year 2024 results with net sales totaling $539.8 million, a 4.1% decline compared to the same period last year. E-commerce sales increased by 11.5% and accounted for 13.1% of total company net sales. Gross profit was $282.1 million with a 52.3% gross margin, a 240-basis point year-over-year improvement. The company also expects to deliver $225 million in targeted annual cost reductions under its initiative.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-37.08%
Tags
-
Rhea-AI Summary
JOANN Inc. (NASDAQ: JOAN) to Release Third Quarter Fiscal 2024 Earnings on December 4, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.64%
Tags
Rhea-AI Summary
JOANN Inc. (NASDAQ: JOAN) is encouraging customers to shop early with Black Friday-level savings and special deals, both in-store and online, ahead of the holiday season. The company offers up to 70% off on fabric, up to 50% off on yarn, up to 60% off on holiday décor & floral, up to 50% off on storage, and special deals on sewing and cutting machines. The brand's app and website also house coupons and loyalty programs, and the company is offering a price match guarantee.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.04%
Tags
-
Rhea-AI Summary
JOANN Inc. has released a report outlining its Corporate Responsibility results for Fiscal Year 2023. The report highlights the company's impact across its EVERGREEN Strategic Pillars, including creating an inclusive workplace, minimizing carbon footprint, promoting reusability, and supporting diverse customer base and communities. JOANN received national recognition for its workplace diversity and charitable giving efforts. The company also implemented energy efficiency improvements and reduced packaging waste. JOANN conducted climate risk assessment and materiality assessment to enhance ESG oversight and governance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.08%
Tags
-
Rhea-AI Summary
JOANN Inc. reports Q2 2024 results with net sales of $453.8 million, a 2.1% decline YoY. Gross profit increases 8.0% to $232.0 million with a gross margin of 51.1%. The company expects to over deliver $200 million in targeted annual cost reductions. E-commerce sales increase by 3.0% YoY. Net loss of $73.3 million compared to $56.9 million in the same quarter last year. Full-year outlook updated with more precise estimates.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.78%
Tags
Rhea-AI Summary
JOANN Inc. is holding a national hiring event to hire over 5,000 new Team Members, offering benefits such as a 30% discount and flexible work scheduling. The company has been recognized as one of America's Best Large Employers, a Top Workplace for Women, and Diversity. JOANN aims to build relationships with communities and serve as a one-stop destination for the holiday season.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.36%
Tags
FAQ
What is the market cap of JOANN (JOAN)?
The market cap of JOANN (JOAN) is approximately 4.1M.
What is JOANN Inc.?
JOANN Inc. (NASDAQ: JOAN) is a leading retailer in the sewing, fabrics, and arts & crafts industry, with over 829 stores across 49 states and a robust e-commerce platform.
When was JOANN founded?
JOANN was founded in 1943 in Cleveland, Ohio.
What products does JOANN offer?
JOANN offers a wide range of products including fabrics, sewing supplies, home décor items, and various craft materials.
How many JOANN stores are there?
There are over 829 JOANN stores across 49 states in the U.S.
Does JOANN have an online store?
Yes, JOANN has a robust e-commerce platform in addition to its physical stores.
What recent strategic initiatives has JOANN undertaken?
JOANN has focused on enhancing its product offerings, improving e-commerce capabilities, and driving operational efficiencies using advanced data analytics.
What is JOANN's 'Creative Happy Place'?
The 'Creative Happy Place' is JOANN's mission to provide all the supplies, guidance, and inspiration needed for any creative project or passion.
What are some of JOANN's recent achievements?
JOANN has implemented significant cost reduction initiatives, expanded product offerings, and enhanced e-commerce performance, resulting in increased financial stability and growth.
What financial restructuring has JOANN undergone?
JOANN has entered a Transaction Support Agreement (TSA) to strengthen its financial position, including commitments for approximately $132 million in new financing and reducing funded debt by about $505 million.
How has JOANN supported community initiatives?
JOANN has donated millions to various charities, supported sustainable practices, and partnered with organizations like Loose Ends to connect creative projects with volunteer finishers.
JOANN Inc.