Home » NEWS » Hancock Fabric sees losses beginning to narrow

Hancock Fabric sees losses beginning to narrow


BALDWYN — During the first quarter of 2009, Hancock Fabrics posted a net loss of $900,000, or $0.05 per share, compared to a net loss of $5.3 million, or $0.28 per share, during the first quarter of 2008.

At the same time, the company saw net sales of $64.1 million, compared with $63.8 million during the comparable period last year, and comparable sales increased 2.3 percent during the most recent quarter, compared with 3.1 percent during the first quarter the prior year.

Hancock president and CEO Jane Aggers said, “Although the retail environment is still challenging, we continue to make progress on our key operating initiatives — improving operations and reducing debt. Our efforts have resulted in the significant increase in EBITDA (up $2.8 million over the first quarter of 2008) and the narrowing of our loss.”


… 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 Wally Northway

Leave a Reply

Your email address will not be published.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