Home » NEWS » Manufacturing » Hancock Fabrics makes money

Hancock Fabrics makes money

BALDWYN — Craft and fabric retailer Hancock Fabrics reports net income of $1.8 million for fiscal 2009 — its first annual profit in five years.

The company had lost $114 million over the previous four years, including $12.4 million in fiscal 2008. It came out of Chapter 11 protection from its creditors in Aug. 2008.

In a news release last week, Hancock reported net sales of $274.1 million in 2009, down from $276.4 million a year earlier. Same-store sales — considered by analysts a key measure of a retailer’s health — were up 0.2 percent compared to a 2.1 percent growth in the prior-year period.

As of Jan. 30, Hancock had 3,900 employees in 266 stores in 37 states and 300 at its headquarters in Baldwyn.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*