Home weak at Jo-Ann
By Staff -- Home Textiles Today, 11/16/2005 1:03:00 PM
HUDSON, Ohio -- The fate of the home category is bleak at Jo-Ann Stores, where sales for home textiles and decorative goods have been on a steady decline, forcing the retailer to reduce its shelf space considerably in the coming year.
During Jo-Ann Stores Inc.’s third quarter earnings call, Alan Rosskamm, CEO, said the company will instead ante up its craft selection, which has been the bright spot in the merchandise mix.
“We have plans now under way to meaningfully alter our merchandise assortments in the second quarter of next year by reducing the space and inventory investment to our down-trending finished seasonal and home décor businesses and increasing our commitment to craft components,” he explained. “Although it will create some additional markdowns of discontinued products and some incremental merchandising expense in the first half of next year, by third quarter we expect our stores to benefit with fresher, more competitive product assortments.”
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