Jo-Ann Stores Announces Third Quarter EPS of $1.09

Jo-Ann Stores, Inc. JAS today announced financial results for its fiscal 2011 third quarter ended October 30, 2010. Net income for the third quarter was $29.1 million, or $1.09 per diluted share, versus net income of $24.1 million, or $0.90 per diluted share, for the third quarter last year. Net sales for the third quarter increased 5.1% to $535.3 million from $509.1 million for the same period last year. Same-store sales increased 4.1% compared with a 4.3% same-store sales increase for the third quarter last year.