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): November 3, 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 November 3, 2005, Jo-Ann Stores, Inc. issued a press release announcing its net sales for the four weeks, thirteen weeks and year-to-date period as of October 29, 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.

(d) Exhibits

Exhibit No. - 99.1 Press Release of Jo-Ann Stores, Inc., dated November 3, 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.
November 3, 2005	By:	/s/ James Kerr
		Name: James Kerr
		Title: Vice President and Controller (Principal Accounting Officer)

Exhibit Index

Exhibit No.	Description
99.1	Press Release of Jo-Ann Stores, Inc., dated November 3, 2005.

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

CONTACT: Don Tomoff
Vice President, Finance and Treasurer
Jo-Ann Stores, Inc.
330/463-6815
http://www.joann.com

JO-ANN STORES ANNOUNCES THIRD QUARTER SALES RESULTS

HUDSON, OH – November 3, 2005 – Jo-Ann Stores, Inc. (NYSE:JAS) reported today that October net sales increased 8.8% to $174.6 million from $160.5 million in the same period last year. October same-store sales increased 3.4% compared to a same-store sales decrease of 0.3% last year.

The Company indicated in its October 5, 2005 press release that it expected same-store sales could range from a decline of 2% to an increase of 2% for the remaining four months of fiscal 2006. Furthermore, the Company estimated that the gross margin rate in the third and fourth quarters of fiscal 2006 could decline 150 to 250 basis points versus the same period last year.

Although October same-store sales were better than the Company’s previously communicated expectations, the Company experienced substantial gross margin rate deterioration compared with the same period last year. The Company estimates the gross margin rate for the third quarter will be within its previously estimated range.

For the third quarter, net sales increased 5.8% to $474.2 million from $448.3 million for the same period last year. Same-store sales increased 0.7% for the quarter, versus a same-store sales decrease of 0.9% for the same period last year.

Year-to-date net sales increased 4.4% to $1.28 billion from $1.22 billion in the prior year. Year-to-date same-store sales increased 0.3%, versus a same-store sales increase of 2.7% for the same period last year.

The Company will announce its third quarter earnings on November 14, 2005. In conjunction with the earnings release, investors are invited to listen to the earnings conference call to be broadcast live over the Internet at 4:30 PM Eastern time on November 14, 2005. The earnings release will provide instructions on how to access the call.

Jo-Ann Stores, Inc. (http://www.joann.com), the leading national fabric and craft retailer with locations in 47 states, operates 700 Jo-Ann Fabrics and Crafts traditional stores and 142 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.