Jo-Ann to reduce promotions
David Perry -- Furniture Today, March 9, 2004
HUDSON, Ohio — In its transition from turn-around to growth, Jo-Ann Stores has reduced its level of clearance and promotional activity, restructured its superstore prototype, and will reconfigure its finished seasonal goods assortment, the company reported during its fourth quarter earnings release and conference call late yesterday.
The reduction of the level of clearance and promotional activity "is a strategy we have now delivered on for two consecutive quarters," said Donald Tomoff, vice president of finance.
Finished seasonal goods — which includes decorative items and hard goods, but not fabrics or home textiles items — was the category "hardest hit" by the company's decision to be less promotional, said Brian Carney, chief financial officer and executive vice president.
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