JOANN Inc. - JOAN STOCK NEWS

JOANN Inc. (NASDAQ: JOAN) reported Fiscal 2022 revenue of $2.4 billion, a growth of 8.3% from Fiscal 2020. Net income decreased to $56.7 million from $212.3 million in Fiscal 2021. The company achieved a 10% growth in gross profit and a 58% rise in adjusted EBITDA, totaling $242.5 million. Despite a 12.5% decline in net sales for Q4 2022 at $735.3 million, JOANN added 6.4 million new customers. Strategic partnerships and acquisitions aim to bolster future growth.

JOANN Inc. (NASDAQ: JOAN) plans to release its fourth-quarter 2021 earnings on March 17, 2022, after market close. A conference call will be held at 5:00 p.m. ET, with toll-free numbers provided for participants. The call will cover business and financial developments, potentially sharing previously undisclosed information. JOANN, a leader in sewing and arts and crafts, operates 848 stores across 49 states and has a significant e-commerce presence, inspiring creativity for over 75 years.

JOANN (NASDAQ: JOAN) announced a 10% increase in its quarterly dividend, raising it to 11 cents per share. This decision reflects the company's commitment to return capital to shareholders and is part of its broader capital allocation strategy. The dividend is scheduled for payment on April 8, 2022, to shareholders recorded by the close of business on March 25, 2022. Additionally, JOANN plans to focus on debt reduction and strategic investments, including a store refresh program.

JOANN Inc. (NASDAQ: JOAN) has announced its 2022 Annual Meeting of Shareholders, scheduled for June 24, 2022. Shareholder proposals for inclusion in the proxy statement are due by February 1, 2022, while other proposals must be submitted by February 11, 2022. JOANN has established itself as a leader in the sewing and arts and crafts industry, operating 852 stores across 49 states and a strong e-commerce presence. The company aims to inspire creativity and serve as a one-stop shop for customers' crafting needs.

JOANN Inc. (NASDAQ: JOAN) announced its participation in the upcoming 2022 ICR Conference, with President and CEO Wade Miquelon and CFO Matt Susz scheduled for a fireside chat on January 11, 2022, at 2:30 p.m. Eastern Time. The event will be webcast live, and management will also conduct virtual meetings with institutional investors during the conference. JOANN has established itself as a leader in the arts and crafts category with 852 stores in 49 states and a strong e-commerce presence, continuing to inspire creativity among its customers for over 75 years.

JOANN, a leading retailer in the fabrics and sewing industry, has strengthened its executive team with key promotions and new hires. Joe Thibault has been promoted to Senior Vice President of Store Operations, bringing over 19 years of experience at JOANN and overseeing operations for more than 850 stores. Lisa Wittman-Smith joins as Senior Vice President of Inventory Management & Business Insights, bringing extensive experience from her previous roles at Visionworks and Luxottica. The leadership changes aim to enhance customer experience and optimize operational efficiency.

JOANN Inc. (NASDAQ: JOAN) reported third quarter results ending October 30, 2021, with net sales of $611.0 million, a 14.4% decline year-over-year but an 8.0% growth on a two-year basis. The net income of $22.8 million reflects a significant recovery, up $31.2 million from two years ago. Adjusted EBITDA rose to $72.6 million, an 84% increase year-over-year. The gross profit margin improved to 52.2% despite elevated supply chain costs, and the company remains optimistic about sustained growth through seasonal demand and enhanced digital capabilities.

JOANN has formed a joint venture with the SINGER sewing brand to innovate sewing and craft patterns, targeting easier accessibility and usability. Set to launch in 2022, the venture will leverage patented technology developed with artificial intelligence and top product design firms. JOANN will distribute products via its stores, online, and through SINGER's global network. This new initiative aims to enhance the crafting experience for users, making it more enjoyable and accessible.

JOANN (NASDAQ: JOAN) has announced a quarterly dividend of 10 cents per common share, payable on December 29, 2021. Shareholders of record as of December 15, 2021 will receive this dividend. With over 75 years in the arts and crafts industry, JOANN operates 852 stores in 49 states and has a growing e-commerce presence. The company focuses on providing supplies and inspiration for creative projects.