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"Jo-Ann shares dive..."

Discussion in 'Picture Framing Business Issues' started by Framing Goddess, May 19, 2005.

  1. Framing Goddess

    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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  2. Rozmataz

    Rozmataz SGF, Supreme Grumble Framer

    Ah, that's too bad...

    Grand opening near me this weekend [​IMG]
     
  3. FramerRandy

    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? [​IMG]
     
  4. Harry

    Harry CGF, Certified Grumble Framer

    Anyone hear anything about BA Framer?
     
  5. BFoley

    BFoley Grumbler in Training

    Hear what about BA Framer? If its a problem thats nothing new.
     
  6. GUMBY GCF

    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
     
  7. Jerry Ervin

    Jerry Ervin PFG, Picture Framing God

    What's up with BA Framer?
     
  8. Harry

    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.
     
  9. UzZx32QU

    UzZx32QU Administrator Staff Member

    Maybe M will buy them out. [​IMG]
     
  10. Jim Miller

    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.
     
  11. Bob Doyle

    Bob Doyle SPFG, Supreme Picture Framing God

    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 ***? [​IMG]
     
  12. Jerry Ervin

    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?
     
  13. DenKym

    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
     
  14. Jerry Ervin

    Jerry Ervin PFG, Picture Framing God

    DemKym

    I felt like I moved to the dark side when I became a Larson Juhl Partner.

    So far, I have been happier on this side.

    :cool:
     
  15. Creative Chicks

    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
     
  16. Harry

    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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