JAS Shares Rise Following Upward Revision In Guidance

Jo-Ann Stores JAS announced its second-quarter EPS (earnings per share) at $0.20, ahead of analyst expectations. The company’s revenues grew 4.7% YoY to $439.3 million. Same-store sales rose 4.4%. JAS raised its earnings per share guidance for fiscal year 2011 to $3.20 to $3.35, as compared to its prior estimate of $2.95 to $3.10. The company projected its same-store sales to grow about 3.0% to 4.0%, up from the earlier estimate of 2.5% to 3.5%. JAS shares climbed 13.61% to $41.83 at 1:20 pm EDT. Read more from Benzinga's Company news.