- Joann Inc (NASDAQ:JOAN) reported a second-quarter FY22 sales decline of 29.8% year-on-year, to $496.9 million, missing the analyst consensus of $534.03 million.
- Comparable sales decreased 29.9% versus last year and increased 8.1% on a two-year stack basis.
- The gross margin expanded 410 basis points Y/Y to 53.7% and gained 460 basis points on a two-year basis.
- The company reported a $(0.3) million operating loss compared to a profit of $48.1 million Q2 FY21.
- The company held $22.1 million in cash and equivalents as of July 31, 2021.
- Adjusted EBITDA of $23.5 million decreased 74.7% Y/Y.
- Adjusted EPS of $(0.20) missed the analyst consensus of $(0.13).
- Price Action: JOAN shares are trading lower by 14.58% at $10.90 in premarket on the last check Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments