JOANN Q2 Adj EPS $(1.44) Misses $(1.15) Estimate, Sales $453.80M Beat $437.44M Estimate
Portfolio Pulse from Benzinga Newsdesk
JOANN (NASDAQ:JOAN) reported Q2 adjusted losses of $(1.44) per share, missing the analyst consensus estimate of $(1.15) by 25.22 percent. This is a 92 percent decrease over losses of $(0.75) per share from the same period last year. The company reported quarterly sales of $453.80 million, beating the analyst consensus estimate of $437.44 million by 3.74 percent, but a 2.05 percent decrease over sales of $463.30 million the same period last year.
August 28, 2023 | 8:23 pm
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JOANN's Q2 earnings missed analyst estimates with a 92% YoY increase in losses, while sales beat estimates but decreased 2.05% YoY.
JOANN's Q2 earnings report shows a significant increase in losses compared to the same period last year, which missed analyst estimates. While sales beat estimates, they also decreased compared to last year. This could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100