8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): August 4, 2005

Jo-Ann Stores, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Ohio	001-06695	34-0720629
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
5555 Darrow Rd., Hudson, Ohio		44236
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (330) 656-2600

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On August 4, 2005, Jo-Ann Stores, Inc. issued a press release announcing, among other items, its net sales for the four weeks, thirteen weeks and year-to-date period ended July 30, 2005. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit No. - 99.1 Press Release of Jo-Ann Stores, Inc., dated August 4, 2005.

The information contained in this Current Report on Form 8-K, including the exhibit attached hereto, is being furnished to the Securities and Exchange Commission and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Furthermore, the information contained in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Jo-Ann Stores, Inc.
August 4, 2005	By:	/s/ Brian Carney
		Name: Brian Carney
		Title: Executive Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release of Jo-Ann Stores, Inc., dated August 4, 2005.

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

CONTACT:	Brian Carney	Investor Relations:
	Executive Vice President, CFO Jo-Ann Stores, Inc. 330/656-2600 http://www.joann.com	Don Tomoff Vice President, Finance Jo-Ann Stores, Inc. 330/463-6815

JO-ANN STORES ANNOUNCES JULY SALES RESULTS

- Updates Earnings Guidance -

HUDSON, OH – August 4, 2005 — Jo-Ann Stores, Inc. (NYSE: JAS) reported today that July net sales were $117.4 million versus $114.1 million in the same period last year. July same-store sales decreased 1.5% versus a 0.2% same-store sales decrease last year.

For the second quarter ended July 30, 2005, net sales increased 3.5% to $383.8 million from $371.0 million in the prior year. Same-store sales for the second quarter decreased 0.5% versus a 3.1% same-store sales increase for the second quarter last year.

Net sales for the six-month period ended July 30, 2005 were $804.5 million versus $775.9 million in the same period in the prior year. Year-to-date same-store sales grew 0.1%, compared to a same-store sales increase of 4.9% in the same period a year ago.

Based on preliminary results for the second quarter ended July 30, 2005, the Company now expects a loss in the range of $0.22 to $0.24 per share, versus previous guidance of a loss of $0.10 to $0.15 per share. The Company will report actual second quarter results on August 15, 2005. The Company attributed the change in its second quarter earnings guidance to softer than anticipated sales, particularly in the month of July.

Fiscal 2006 Second-Half Outlook

The Company lowered its full-year fiscal 2006 earnings guidance to a range of $1.65 to $1.75 per diluted share. This revision in full-year earnings guidance is attributable to reduced earnings guidance for the second quarter as well as a revision to expectations for the second half of the year. Earnings for the second half are estimated to be in the range of $1.70 to $1.80 per diluted share versus a $1.70 per diluted share for the comparable period of the prior year. This revised guidance is based on same-store sales growth of 3% to 4% for the second half of the year, with stronger same-store sales anticipated in the third quarter. The Company also indicated that the second half earnings guidance includes the estimated impact of incremental store pre-opening and closing costs resulting from the increased number of expected store openings year-over-year, which the Company estimates will negatively impact second half estimated results by approximately $0.12 per share.

Jo-Ann Stores, Inc. (http://www.joann.com), the leading national fabric and craft retailer with locations in 47 states, operates 716 Jo-Ann Fabrics and Crafts traditional stores and 131 Jo-Ann superstores.

This press release contains forward-looking statements that are subject to certain risks and uncertainties. Our actual results, performance or achievements may materially differ from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, general economic conditions, changes in customer demand, changes in trends in the fabric and craft industry, seasonality, the availability of merchandise, changes in the competitive pricing for products, longer-term unseasonable weather or wide spread severe weather, the impact of our and our competitors’ store openings and closings, the successful and timely completion and integration of the Company’s new distribution center, fuel and energy costs, changes in tariff and freight rates, consumer debt levels, and other capital market and geo-political conditions. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s Securities and Exchange Commission filings.