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"Jo-Ann shares dive..."

Framing Goddess

SGF, Supreme Grumble Framer
...on expected loss."

Shares of Jo-Ann Stores, Inc., the largest U.S. fabric retailer, fell 10.6 percent Tuesday after the company said net income in its fiscal first quarter fell 37 percent, and it predicted a second-quarter loss of 10 cents to 15 cents a share, compared with a profit of two cents a year earlier. Jo-Ann Stores chairman Alan Rosskamm said in the statement Monday that profit was hurt by $1.7 million in costs to open new stores, while sales didn't meet expectations. The Hudson-based [Cleveland suburb] retailer's shares fell $2.00 to $25.09 Tuesday on the New York Stock Exchange.

The Cleveland Plain Dealer, Business section, Wednesday May 18, 2005
 
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Rozmataz

SGF, Supreme Grumble Framer
Ah, that's too bad...

Grand opening near me this weekend
 

FramerRandy

CGF II, Certified Grumble Framer Level 2
Not surprized by this. I expect to here more of this during the year. Hope LJ has a backup plan?
 

GUMBY GCF

SGF, Supreme Grumble Framer
Okay!~ No one has to thank me directly but It must have been our ad campaign that hurt their sales!~ LOL
 

Harry

CGF, Certified Grumble Framer
Nothing specific. Just that I used to know them all too well. Wondering what the latest is if anything.... they create some interesting situations is all.
 

Jim Miller

SPFG, Supreme Picture Framing God
Bigbox advertising has conditioned consumers to wait for the next-bigger discount and they are, indeed, waiting. The bigbox stores have dug themselves into a huge marketing hole, and the M/JoA price war is directly related.

It will be interesting to see how these companies will improve their profitability. I'm sure they will -- they have some really smart management. Whatever happens, it might represent an opportunity for us little guys.
 

Bob Doyle

SPFG, Supreme Picture Framing God
Originally posted by Jerry Ervin:
What's up with BA Framer?
What does the BA stand for? Is it a DIY frame chain? Or, like the thread a few months ago about the coffe shop, does it stand for Bad ***?
 

Jerry Ervin

PFG, Picture Framing God
Bob

I don't know what it stands for.

They are a third party company that does the custom framing for Garden Ridge and AC Moore.

Those two stores are my biggest competition.

They also carry AMPF moulding exclusively.

Should I get mad and take all my AMPF samples down?
 

DenKym

CGF, Certified Grumble Framer
/sarcasim on

Jerry, of course you should!! Dont you know, by bying from them it is signifing your move to the dark side! :D
 

Creative Chicks

SGF, Supreme Grumble Framer
You Go Gumby!!!! and, yes , I am thanking you personally. I do as much advertising as I can afford, and then some. I know it is helping because those poor souls who bothered to go into Jo-Ann's for the "big discounts" are now coming to us for better quality and reasonable prices. I am starting to see a trend up in this area that thier customers are starting to see through their coupons.
Lori
 

Harry

CGF, Certified Grumble Framer
BA Framer is a chain of framing stores based in Memphis TN and yes in addition to the BA Framer stores they do operate lease departments in the Garden Ridge, AC Moore and The Great Indoors stores as well as hold a 30 store chain called Corners located primarily in New England, NY, NJ, and CA. About 120 units all together.

Jerry,
I don't beleive they sell any AMPF moulding. If they do, it is very recent that they began to. From what I know, they import all of their own moulding. You may want to keep the AMPF samples.

TG,
I doubt M would be interested, but their may be others.... that's why am asking.
 
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