Joann Shares Plummet As Q2 Results Miss Estimates

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Joann Shares Plummet As Q2 Results Miss Estimates

Benzinga2021-09-03

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.

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Rodney
·2021-09-04
O
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- superdog:
  Like back pls
  2021-09-04
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brianyen
·2021-09-03
Pls like and comment thx
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- Evanchills:
  comment and like back thanks
  2021-09-03
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Sim1
·2021-09-03
Like
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YS81
·2021-09-03
Pls like
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- Sim1:
  Done
  2021-09-03
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- Karxun:
  Ok
  2021-09-03
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jinvestmentj
·2021-09-03
Like and Xomment
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- YS81:
  Ok
  2021-09-03
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Vivavia
·2021-09-03
Ohh
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