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.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Yarber could be sworn in today as new Jackson mayor
- Ole Miss launches commitment to be 'climate neutral'
- Pharma Pac lays off rest of workers; could end up owing state
- After review, MSU moves forward on new research facility
- SpaceX, Stennis officially open new rocket test stand
- Silver Airways ordered to continue service
- Acco Brands investing $1.6M, adding 162 workers
- Gulf LNG terminal mulling export opportunities