Welcome to our dedicated page for JOANN news (Ticker: $JOAN), a resource for investors and traders seeking the latest updates and insights on JOANN stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect JOANN's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of JOANN's position in the market.
Rhea-AI Summary
JOANN Inc. has received court approval for its prepackaged financial recapitalization plan, expecting to emerge from the court-supervised process with the lowest level of debt in over a decade. The company's more than 800 store locations remain open, and JOANN.com continues to offer supplies for creative needs. The restructuring aims to preserve the jobs of over 18,000 Team Members, with a focus on enhancing customer experience, product assortments, and overall financial stability.
Rhea-AI Impact
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End-of-Day
-27.27%
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Rhea-AI Summary
JOANN Inc. announces a Transaction Support Agreement to strengthen its financial position, reduce debt by $505 million, and secure $132 million in new financing. The company continues to operate normally, with commitments to pay all obligations to employees, vendors, landlords, and trade creditors in full. JOANN will become a private company post-restructuring, with stores and website operating as usual.
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End-of-Day
-20.57%
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Crocs, Inc. announced the retirement of Michelle Poole, EVP & President of the Crocs Brand, after a 32-year career. Anne Mehlman, the current EVP & Chief Financial Officer, will be promoted to EVP & President of the Crocs Brand. The company is also searching for a new Chief Financial Officer. The company is maintaining its preliminary 2024 outlook and will report fiscal 2023 fourth-quarter and full-year results on February 15, 2024.
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Rhea-AI Sentiment
End-of-Day
-0.66%
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JOANN Inc. (NASDAQ: JOAN) has announced a new partnership with non-profit organization Loose Ends Project, aiming to ease grief, create community, and inspire generosity. The partnership will offer exclusive discounts for Project Finishers, in-kind product donations, and designated meet up spots at all JOANN locations nationwide. JOANN will also host a point-of-sale campaign in February 2024 to benefit the mission of Loose Ends Project.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
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JOANN Inc. (NASDAQ: JOAN) reported third quarter fiscal year 2024 results with net sales totaling $539.8 million, a 4.1% decline compared to the same period last year. E-commerce sales increased by 11.5% and accounted for 13.1% of total company net sales. Gross profit was $282.1 million with a 52.3% gross margin, a 240-basis point year-over-year improvement. The company also expects to deliver $225 million in targeted annual cost reductions under its initiative.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-37.08%
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JOANN Inc. (NASDAQ: JOAN) to Release Third Quarter Fiscal 2024 Earnings on December 4, 2023
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Rhea-AI Sentiment
End-of-Day
0.64%
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JOANN Inc. (NASDAQ: JOAN) is encouraging customers to shop early with Black Friday-level savings and special deals, both in-store and online, ahead of the holiday season. The company offers up to 70% off on fabric, up to 50% off on yarn, up to 60% off on holiday décor & floral, up to 50% off on storage, and special deals on sewing and cutting machines. The brand's app and website also house coupons and loyalty programs, and the company is offering a price match guarantee.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.04%
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JOANN Inc. has released a report outlining its Corporate Responsibility results for Fiscal Year 2023. The report highlights the company's impact across its EVERGREEN Strategic Pillars, including creating an inclusive workplace, minimizing carbon footprint, promoting reusability, and supporting diverse customer base and communities. JOANN received national recognition for its workplace diversity and charitable giving efforts. The company also implemented energy efficiency improvements and reduced packaging waste. JOANN conducted climate risk assessment and materiality assessment to enhance ESG oversight and governance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.08%
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JOANN Inc. reports Q2 2024 results with net sales of $453.8 million, a 2.1% decline YoY. Gross profit increases 8.0% to $232.0 million with a gross margin of 51.1%. The company expects to over deliver $200 million in targeted annual cost reductions. E-commerce sales increase by 3.0% YoY. Net loss of $73.3 million compared to $56.9 million in the same quarter last year. Full-year outlook updated with more precise estimates.
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Rhea-AI Sentiment
End-of-Day
-10.78%
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JOANN Inc. is holding a national hiring event to hire over 5,000 new Team Members, offering benefits such as a 30% discount and flexible work scheduling. The company has been recognized as one of America's Best Large Employers, a Top Workplace for Women, and Diversity. JOANN aims to build relationships with communities and serve as a one-stop destination for the holiday season.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.36%
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JOANN Inc.
Nasdaq:JOAN
JOAN Rankings
JOAN Stock Data
4.06M
11.71M
3.91%
72.16%
3.95%
Beer, Wine, and Liquor Stores
Retail Trade
United States
Hudson
About JOAN
jo-ann fabric and craft stores the nation’s largest fabric and craft retailer with locations in 49 states, was founded in 1943 as a single retail store. today, more than 800 jo-ann stores across the country provide consumers with creative inspiration. for additional information, visit www.joann.com.