JOANN is coming off a strong year during which it added more than eight million new customers and saw sales at existing stores climb 38% since May 1.
That helped the company pull in net income of $174 million on sales of $1.9 billion in the 39 weeks ending October 31, 2020, partly riding on the coattails of pandemic winners like Etsy, eBay and Shopify, which have helped small businesses get online quickly at a time when e-commerce is booming.