Joann Inc.
shares shed gains from the regular session after hours Thursday after the fabric, arts and crafts retailer missed big on earnings while beating Wall Street estimates on revenue, as it seeks to cut costs. Joann shares fell 5% after hours, following a 7.1% surge in the regular session to close at $2.11. The company reported a fourth-quarter loss of $91.1 million, or $2.23 a share, versus net income of $13.6 million, in the year-ago period.
shares shed gains from the regular session after hours Thursday after the fabric, arts and crafts retailer missed big on earnings while beating Wall Street estimates on revenue, as it seeks to cut costs. Joann shares fell 5% after hours, following a 7.1% surge in the regular session to close at $2.11. The company reported a fourth-quarter loss of $91.1 million, or $2.23 a share, versus net income of $13.6 million, in the year-ago period.
It looks like Joann's earnings didn't quite meet expectations. Hopefully, they'll be able to turn things around soon.