Fabric & craft retailer Jo-Ann Dec sales improve 4.6%
06 Jan '06
3 min read
-- Selling, general and administrative expense reduction. The Company is aggressively reviewing all areas of the business for opportunities to reduce expenses.
Completion of the new distribution center in Opelika, Alabama in fiscal 2007 should enable improved efficiencies in the distribution and logistics network over time.
The Company also is moving ahead with the rebuilding and strengthening of its management team. As previously announced, it is separating the roles of Chairman, President and Chief Executive Officer.
Alan Rosskamm will retain the position of Executive Chairman.
The Board has established a search committee, retained an executive search firm and commenced a search for the new President and CEO.
The Company is seeking an entrepreneurial leader from outside the Company who can bring merchandising and operational best practices to Jo-Ann.
While the Company hopes to complete the CEO search as expeditiously as possible, it is committed to taking the necessary time to get the right person and the right management team in place.
Leading national fabric and craft retailer Jo-Ann Stores Inc with locations in 47 states, operates 688 Jo-Ann Fabrics and Crafts traditional stores and 154 Jo-Ann superstores.
marketing@alchempro.com
