Joann reports Q2 adjusted EPS ($1.44) consensus ($1.15)

Reports Q2 revenue $453.8M, consensus $437.44M. Comparable sales decreased 2% in Q2. E-commerce sales increased 3%. Chris DiTullio, Joann’s chief customer officer and co-lead of the interim office of the CEO commented, “We are pleased with our second quarter performance which was driven by leveraging our read and react stance and our expanded use of advanced data analytics. We capitalized on several opportunities that are unique to JOANN such as the expansion and early delivery of our Halloween offering and our ‘Make Room’ campaign which is our curated collection of many of the products students need to decorate their dorm room or apartment as they return to college. We remain focused on a strategy to win in our core textile and craft related categories.”