JOANN Sees FY24 Net Sales Down 1-3% Inclusive Of 53rd Week Worth ~2%, Sees Adj. EBITDA $85M-$95M
Portfolio Pulse from Benzinga Newsdesk
JOANN Inc. has projected a 1-3% decrease in net sales for FY24, even when including the 53rd week which is worth approximately 2%. The company also expects its adjusted EBITDA to be between $85M and $95M.
August 28, 2023 | 8:26 pm
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NEGATIVE IMPACT
JOANN Inc. expects a decrease in net sales for FY24, which could negatively impact the company's stock price.
JOANN's projected decrease in net sales for FY24 indicates potential financial difficulties, which could lead to a decrease in investor confidence and a subsequent drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100