
Joann Inc (NASDAQ:JOAN) shares are trading lower by 7.7% at $11.98 after the company reported worse-than-expected fourth-quarter sales results.
Jo-Ann reported quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $1.03. Jo-Ann reported quarterly sales of $735.30 million which missed the analyst consensus estimate of $749.89 million by 2%. This is a 13% decrease over sales of $840.80 million in the same period last year.