Jo Ann Store Near Me (2024)

FAQs

Why is Joann Fabrics closing stores? ›

Aside from its rising debt, Joann has struggled to turn a profit and has lost some of its customer base to rivals, Saunders said. "Weakening store standards and declining customer service levels, partly because of staffing cuts, have made stores less desirable," he said.

Joann is currently privately owned by Leonard Green & Partners.

While Michaels is stocked primarily with top of the line products, Joanns offers a broader selection of cheaper, lower-quality products. But while Joanns might seem cheaper in the short term, there is an argument to be made that shopping at a Michaels store will save you more money over a longer-term.

About JOANN

From a single storefront in Cleveland, Ohio, the nation's category leader in sewing and fabrics and one of the fastest growing competitors in the arts and crafts industry has grown to include 831 store locations across 49 states and a robust e-commerce business.

Hudson-based retail chain JOANN to emerge from bankruptcy as private company. The company's more than 800 stores, and its 18,000 employees nationwide, will be preserved after the company filed for Chapter 11 bankruptcy protection in March.

The company's competitors, Michael's and Hobby Lobby, are both privately owned, so it is unclear how they have performed amid those economic headwinds. The private equity firm Leonard Green & Partners bought Joann for roughly $1.6 billion in 2011, and spun it off publicly in 2021.

As a reminder, Michaels was taken private in March 2021 for $3.3B by Apollo Global Management. Michaels Stores, Inc.

The Green family founded Hobby Lobby to express their evangelical Protestant beliefs and the chain incorporates American conservative values and Christian media. Hobby Lobby Stores, Inc. U.S.

Generally speaking, Hobby Lobby has lower prices on identical products. However, while Michaels' store prices tend to be higher, Michaels also carries a greater range of high-end products. This means that while you may save money at Hobby Lobby, you might miss out on better quality options.

Does Michaels honor coupons from Joanns? ›

Competitor Coupon Policy*

Effective 3/27/2020, we will no longer accept any competitor coupons.

Hobby Lobby Fabric Sales & Savings Tips

Some of the best sales are at the beginning of summer and right after Christmas; check out our Hobby Lobby Sales Calendar to stay up to date. You'll also want to keep an eye out for their weekly sales ad, which is updated every Sunday with new deals.

Continued Operations During Restructuring: Joann plans to continue operating its more than 800 stores and its online platform while filing for bankruptcy, providing consumers and stakeholders with continuous service.

As the largest textile-producing and exporting country in the world, China's textile industry has become one of the main economic pillars in recent years, and the Red Dragon is renowned as the Country with the Best Fabric Quality.

JOANN's financial performance has been weak for over a year as the company attempts to turnaround its business fortunes. Although JOANN's sales only fell 4% year over year in the fiscal third quarter of 2024, the net loss increased 23%.

JOANN stock has received a consensus rating of buy. The average rating score is and is based on 11 buy ratings, 8 hold ratings, and 1 sell ratings.

Joann Inc. filed for Chapter 11 bankruptcy after struggling to maintain sales as consumers cut back on hobby spending. It announced the move March 18, saying its 800 stores and website will remain open for regular business.