Hancock Fabrics makes money
Published: March 14,2010
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- Bids on reworking Interstate 55 stretch are rejected
- JACK WEATHERLY: Finding a house, defending a neighborhood, finding a voice
- Terminal upgrade on indefinite hold at Jackson International Airport
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- Report ranks state schools' performance 51st in the nation
- Two new casinos like the odds on Mississippi Gulf Coast
- CFPB wants repay ability at center of new payday loan rules
- Hosemann to launch crowd funding program