Established 1999
     
8,000 companies from USA and India.  
   
Search over 25,500 news articles and 8,000 companies earnings    
 
Market Update : 
Jo-Ann Stores Q4 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 11:38 AM ET March 17 2009


(Continued)

Email article | Print article

 
Got it. Thank you.

Operator

And our next question comes from the line of Michael Corelli with Barry Vogel & Associates. Your line is open.

Michael Corelli – Barry Vogel & Associates

Hi, good afternoon. Just a question about the remodels, could you tell us how many stores have been remodeled to date? How many kind of you think are still eligible and just talk about considering you obviously have the cash available why not accelerate the program? Is it a manpower issue, what are your thoughts about that?

James Kerr

We’ve remodeled about 60 stores to date. They still continue to give us the results we expect which is about 8% better than the chain average in terms of their comp in that first year after remodel. Also, we’ve been pleasantly surprised we didn’t count on in their second year after remodel; they actually outperformed the chain average as well not by as much but they outperformed the chain average.

It’s really not I would say a manpower issue or a capital issue. We’re going to do 30 again this year. Where we’re getting the most benefit actually is when we remodel the store and can add craft product and expand the assortment. So, as we get in to some of the smaller stores, it’s going to be a little bit tougher to get the type of returns we’re going to get on the first groups of stores. We continue to look at that and it’s definitely something we’re going to continue to go forward with.

Michael Corelli – Barry Vogel & Associates

How many do you think are left that are eligible?

Darrell Webb

Probably another couple of years worth, 60 to 75 beyond this year.

James Kerr

It really ties in to our store opening strategy. So, our smaller stores would be candidates to relocate or expand. Therefore, that’s where we are also very careful in terms of when we look at candidates to remodel what’s happening in those stores in terms of a potential relocation within that market over the next few years.

Michael Corelli – Barry Vogel & Associates

Okay. Thanks a lot.

Operator

And once again, if you have a question, please press “*” and the number “1” on your telephone keypad. Our next question comes from the line of Joan Storms with Wedbush. Your line is open.

Joan Storms – Wedbush Morgan Securities

Hi. Just a follow up on your initiative to be driving sales in 2010, you talked a little bit about modifying the marketing content, I didn’t know if you could provide any more detail there? And also about the in store promotions or planograms, etc.?




  1  2  3  4  5  6  7  8  9  10  11

 


 
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

Other Sites:
© 1999-2012 123jump.com. All rights reserved