Joann reported Q3 adjusted EPS (21c) vs 6c last year

Last night, Joann reported Q3 revenue $539.8M vs $562.8M last year. Chris DiTullio, JOANN’s Chief Customer Officer and co-lead of the Interim Office of the CEO commented, “With continued progress and strong execution against our strategic priorities, we were pleased with our third quarter results in what remains a dynamic consumer environment. Loyal customers are engaging with us at a greater rate. We are winning in our core categories, and we entered the fourth quarter with very clean inventory quality.” DiTullio continued, “Our e-commerce performance was particularly strong with double digit quarter growth as we delivered a better and faster consumer experience, and benefitted from site enhancements driving increased conversion. We also recently launched a social media campaign #GETTINGKNOTTY, capitalizing on the trend of tie-knot blanket making and focused on reaching younger, new customers. Although we have many important selling days ahead of us, our customer engagement during Black Friday week was strong, and we will continue to offer great value, inspiration and guidance to help all customers create Handmade Happiness this holiday season.”