Hancock Fabrics posts $3 million in 3Q earnings

BALDWYN – Hancock Fabrics had a net income of $3 million in the third quarter, the company reported Wednesday after the markets closed.
The craft and fabric retailer said for the quarter that ended Oct. 31, net sales were $72.7 million, up from $70.6 million a year ago. Same-store sales grew 4 percent. The earnings equated to 16 cents per share, compared to a net loss of $300,000, or 2 cents per share, in the third quarter of fiscal 2008.
The company said its year-to-date net loss was $100,000, compared to a net loss of $16.5 million for the prior year period. The company ended the quarter with 265 stores.

NEMS Daily Journal

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