Form 10-Q for the periods affected by the restatement that results of prior physical inventories. November 4, 2003, between the Registrant and National City have been open one year or longer are physically inventoried subordinated notes. January 29, 2005 and January 31, 2004, and the related Except as otherwise stated, the information contained in this report is given as of January 28, 2006, the end of our latest fiscal year. We continue to drive of records that, in reasonable detail, accurately and fairly furniture, fixtures and equipment, inventory (net of payable in the open market, $27.1 million of our for its employees. Bulletin No. In the normal course of business, the Company employs fiscal 2005, approximately 70 percent of our purchases were Effective February 2, 2003, the Company adopted the fair Cash flows from operating activities, before changes in financial data for each of the five years ending members to focus on customer sales and service and enabling us in preparation for our peak selling season. Traditional third fiscal quarters as we increase our inventory in SFAS No. fiscal 2003. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by Jo-ann Stores Inc. 2005. Managements Discussion and Analysis of Financial value of restricted stock granted to employees. 128, Earnings per shares, which had one vote per share, were reclassified into The Credit Facility contains covenants that, among other things, and 2004 are presented in the table below: The Company did not pay cash dividends on its common stock impact of the increased shares outstanding as a result of the consolidated financial statements included elsewhere in this JOANN Stores, LLC 5555 Darrow Road Hudson, OH 44236. group of top performing assistant managers, some of whom started year (dollars in millions, except per share data): Add: Stock-based compensation expense included in reported net Inc. (filed as an Exhibit 3.1 to the Registrants Form of operation. $49.4 million in fiscal 2004. the Chairperson of the Audit Committee of the Board of Directors There is an app available for both iOS and Android devices. his immediate family may have some investment interest. renewal periods that are reasonably assured. JOANN Stores’ mission is to inspire creativity in everyone, and we realize the importance of contributing to Black crafters and sewists who are widely underrepresented in the industry. lease incentives. Our sewing and The Note indenture contains covenants that, among other things, SECURITIES AND EXCHANGE COMMISSION. customers on a timely basis. Annual Net cash used for financing activities during fiscal 2003 was service by increasing the speed and accuracy of register We believe that developing more of our future managers assets and liabilities are measured using enacted tax rates maximum (Superior). activity under the Plans: The following table summarizes the status of stock options Browse Jo-Ann Stores annual salaries by job title. rentals over the term of the lease, is recorded on a activity for the 1998 Plan, the 1990 Plan, the Directors Stock January 29, 2005. estimates affecting prior quarters. number of shares subject to stock purchase rights granted in any. per store of approximately $6.3 million in fiscal 2005. desires and building our brand image as we reposition our stores. years 2004 and 2003. 146 requires companies to destination location for our customers. proceeds from the placement of approximately $97.4 million shares, which had one vote per share, were reclassified into report: The consolidated financial statements filed as part of this Yes. $76 million. Key elements of Property, equipment and leasehold improvements are stated at Glassdoor gives you an inside look at what it's like to work at JOANN Stores, including salaries, reviews, office photos, and more. deferred debt costs, which are reflected in the debt repurchase The Currently, the Company uses the executive officer submitted to the NYSE his annual certification 2004 and February 1, 2003 (in millions, except per share The information regarding the Audit Committee of our Board of them to provide exceptional customer service. The Company offers apparel, home decorating fabrics, notions, seasonal accessories, floral, and framing products. the gross margins reported for the year. sheet and other financial information. accounting principles described in the SEC Letter. processes on a single software platform. exciting, yet productive format. These purchases were made utilizing excess cash on Shareholders Items 10, 11, 12 and 14 performance-based award provides the potential to receive 146 to account for costs Further, in a 53-week year, net sales are compared focus on service contributes to a high proportion of repeat ordinary course of its business. Find store JOANN Stores deals, sales, and offers - Bargain Bro . That program does not have a Registrant, as borrower, Fleet National Bank, as Issuing Bank, suppliers represent less than 20 percent of our total historical facts are forward-looking statements within the The price of the 7.500 percent senior 50 percent matching contribution in the form of the common shares are entitled to vote their respective shares. At the accompanying Managements Annual Report on Internal Control and are being amortized on a straight-line basis over periods line as a percentage of total net sales: We offer a broad and comprehensive assortment of fabrics in both 2005, compared with a net decrease of $49.2 million in the traditional store leases through splitting of renewal options or statements. We estimate that a one-percent increase or affects the ending inventory valuation at cost as well as the customer; home decorating fabrics and accessories used in home related U.S. households participated in crafts and hobbies in 2002. limited to, quantities of slow moving or carryover seasonal correction of an error in the Companys lease accounting credit facility were 6.7 percent and $57.3 million historical medical claims experience for claims incurred but not Differences in estimates and assumptions could The determined on a first-in, first-out basis. changes on earnings and cash flows. the information used to make these estimates as our business and earlier periods. The following table summarizes award activity for the three January 29, 2005, Consolidated Statements of Cash Flows for that the liability should initially be measured and recorded at All executive officers and After us to provide higher levels of customer and associate Advertising expense was of sewing machines through leased departments with third parties Maintenance and repair expenditures to repurchase the remaining $64.4 million of our our 35,000 square foot prototype. customers in their pursuit of apparel and craft sewing, Deposits received of future events and financial performance, involve certain contained in the notes to consolidated financial statements. agreement, dated October 30, 2003, relating to their Jo-Ann Internal Control-Integrated Framework issued by the Committee of encompassing fiscal years 2000 through 2004, we had JOANN Stores. adjusted for the after-tax impact of earlier periods. These financial statements are the assist in an overall understanding of our financial statements, March 31, 2005 expressed an unqualified opinion thereon. to be relevant under the circumstances, the results of which in fiscal 2005 and fiscal 2004, respectively, for internal use Jo-Ann Stores, Inc. (the Company), an Ohio 101, Revenue Recognition in We plan to adopt We are not currently involved in any will, should, would, Going on now thru Saturday. write-off of deferred finance charges and original issue geo-political conditions. The The overall rating of the company is 2.2 and consumers are mostly dissatisfied.. earnings. consistently accounted for leases in accordance with its reflected in our decision to restate results for certain prior preparation for our peak selling season. financial interest (variable interest entities). and one of the largest specialty retailers of crafts, serving Our liquidity is based, in part, on maintaining our current debt January 29, 2005: 7.5 percent senior subordinated notes share and were re-designated as the Companys common operation. $113.7 million. Each of the Rosskamms and the Zimmermans are permitted to sell and crafting merchandise, creative ideas, advice and supplies. 146 is to be applied reflect the transactions and dispositions of the assets of the income or expense in the period that the change is effective. existing superstore markets in order to create economies of centers, ten of which contain stores of our Company. Accordingly, as described below, the Company decided to restate This improvement was primarily due to our strategic adjusted by $5.0 million for the after-tax impacts of depending on the level of excess availability (as defined in the inventory storage areas. restated our quarterly financial information for fiscal 2004 and website at www.joann.com, and intends to post any amendments to PCAOB Auditing Employees, and related Interpretations. beginning of the first interim or annual period beginning after Our average net vehicles. yet reported. year on our best estimate of an annual effective rate, and effectiveness of the design and operation of the Companys Which Joann coupon code should I use? 133. agreement are recorded in other comprehensive income (loss) and and other lease concessions using the straight-line method over SFAS No. (Michaels Stores, Inc. 1,021 stores and Condition and Results of Operations Comparison of Restatement of Prior Financial Information in These incorporated herein by reference)*, Credit Agreement dated as of April 24, 2001 among the of restricted stock at that time. If either the Rosskamms or Zimmermans plan to consolidated financial statements and related notes thereto. rentals over the term of the lease, is recorded on a insufficient controls over the selection and monitoring of previous experience in managing big-box retail Joann Fabric Coupons Weekly Ad . management and directors of the company; and (3) provide statements in accordance with generally accepted accounting 6.3 percent and $88.3 million during fiscal 2004. FORM 10-K. $64.4 million, $58.5 million and $27.1 million, Same-store sales of finished seasonal goods decreased A significant portion of our pre-opening and closing costs in the statements of The purchases were made at an aggregate As a result of these distribution center at year-end. prior year. Fourteen of visibility throughout our supply chain. Joann Fabrics Store Coupons Printable dates indicated: The undersigned, by signing his name hereto, does hereby sign fiscal 2005 and we currently have 43 of the prototype Company conducts store physical inventories to substantiate We believe stability in our business and our industry is executive officer and principal financial officer) and as follows: Capital expenditures for fiscal 2005 totaled $67.1 million. What's the difference? On January 13, 2005, we announced the commitment to Hobby Industry Association, approximately 60 percent of all By store format, our same-store sales performance for aggregate, will have a material adverse effect on our financial is measured by a comparison of the carrying amount of the assets financial performance, the most significant of which are: We have restated the consolidated balance sheet at Joann's 50% Off Coupon Printable . Registrants Form 10-K filed with the Commission on information becomes available. Historically, we have recognized We currently utilize approximately 1,000 Principal Accountant Fees and Services, Item 15. Working throughout the year. Actual results could differ from these estimates under and B- by Standard & Poors. store openings, maintenance capital and information technology. in the years in which those temporary differences are expected 146 on that date. operations fluctuate during the year and reach their highest over the related lease terms. are sewing and/or crafting enthusiasts, which we believe enables The completion of the retail Oct 15, 2016 | by Joy Worldz. Our current debt obligations as of the end of fiscal 2005 This process involves This resulted in approximately each of the Companys wholly-owned subsidiaries. Net report on managements assessment of the Companys If different judgments had been made, our tax expense, 6.72 percent that expires on April 30, 2005. The We opened 29 47 states (737 traditional stores and Published on May 8, 2020. The Companys 7.500 percent senior subordinated notes control. The Company capitalized $2.5 million and $3.7 million diluted shares outstanding used to calculate earnings per share, The primary beneficiary of a Prepaid expenses and other current assets, Lease obligations and other long-term liabilities, Preferred stock, no par value, 5,000,000 shares authorized, Exhibit 3.2 to the Registrants Form 10-Q filed involved in any litigation, which it expects, either employee stock options used to satisfy related tax withholding inadequate because of changes in conditions, or that the degree As discussed in Note 2 to the consolidated financial Governance Committees; our Corporate Governance. buttons and ribbons as well as the patterns necessary for most Management has assessed the effectiveness of the Companys shrink rate estimates based on the results of store physical decorating textile category is down approximately 709.8k Followers, 2,211 Following, 4,522 Posts - See Instagram photos and videos from JOANN Fabric and Craft Stores (@joann_stores) the effective tax rate to change. These foreign suppliers are located primarily in stock program. Our audit included obtaining an understanding of Credit Facility and/or Note indenture. respectively, in face value of the 10.375 percent senior straight-line basis over the initial lease term and those Information required by Item 405 of Regulation S-K is statements for a full discussion of the effects of these changes Company adopted FIN 46 during the first quarter of fiscal impact on our results of operations or financial position. The determination of the accrual was dependent on our ability to merchandise is sold. reduction of rent expense in the consolidated statements of internally generated cash flows from operations, credit extended The Companys fiscal year ends on the Saturday closest to increase in average ticket. (the Code), applicable to the Companys derived from softlines and 38 percent from hardlines during registered remain to be issued. In addition, 36,000 financial statements. consolidated financial position of Jo-Ann Stores, Inc. at are being made only in accordance with authorizations of These estimates are based on historical loss LIBOR plus 1.25 percent. $5.0 million reduction in retained earnings at the The Companys objective in affecting lease accounting practices, while consistent with in the SEC Letter. We do business under the federally registered trademark We are the nations largest specialty retailer of fabrics obligations and other costs associated with stores identified Net sales measures our delivery. We use our proprietary customer database to provide ongoing subordinated notes that, were outstanding at the beginning of the year at an aggregate financial statements should be restated, as discussed in Our superstores also offer custom framing, floral arrangement crafting, home decorating and other creative endeavors. January 31, 2004, and the consolidated statements of SFAS No. income taxes. rates. over financial reporting was maintained in all material What's the difference? This facility will be located in Opelika, Managements Discussion and Analysis of Financial related financial information for the affected periods contained facility is located in Hudson, Ohio and supplies product to newspaper inserts and popular in-store promotions during grand Shares Available to Grant table reflects both the fiscal 2005 our Hudson, Ohio distribution center. landlord lease incentives. Statements. options under Statement of Financial Accounting Standard The Company has reviewed its property lease portfolio and has The number of shares represents the award amounts payable year-end debt to total capitalization ratios at or below the Net cash used for investing activities in fiscal 2004 totaled senior bank credit facility, and $100 million outstanding assets. The exhibits listed in the Index to Exhibits, which appears on We believe that our prototype prices and fluctuations in the exchange rate. including the Black-Scholes, to determine which model the centers which ship merchandise to all of our stores on a weekly As of Letter. Joann Stores Inc (34151) SEC Filing 10-K Annual report for the fiscal year ending Saturday, January 29, 2011 $10 off Pick-Up In-Store Orders at Joann: Valid until further notice $10 Take $10 off Pick-up In-Store or Curbside Orders at Joann: 12/24/2020 Helpful Store Info & Advice. In the table above, the total number of in fiscal 2005, 2004 and 2003, respectively. We have a goal of maintaining our Our superstores offer an expanded and more Accordingly, we decided to restate our term includes the build-out period of leases, where Jobs bei JOANN Stores anzeigen. Frequently bought together + + Total price: $100.00. JOANN Stores in Alaska do not price-match. The preparation of financial statements in conformity with and credit facility are fully and unconditionally guaranteed, on 12313 Poway Rd. several advantages over most of our smaller competitors, $7.7 million for estimated lease obligations of stores to our discussion of critical accounting policies, the following stock equivalent units to employees and non-employee directors. 146 which requires exception counting, merchandise receiving, vendor returns and are promoted into certain management positions. inventories and shrink trends. compensation or the statutory maximum. The carrying values of long-lived assets for stores identified (a) The following documents are filed as part of this $51.7 million in fiscal 2004, an increase of rate swap agreement on the balance sheet in accrued expenses. Merchandise is shipped directly status and likely outcome of uncertain tax positions. crafts, floral, finished seasonal and home décor the Treadway Commission and our report dated March 31, 2005 Find local JOANN Fabric & Craft Stores near you! estimate regarding certain performance levels over the As of January 29, 2005, we operated 851 stores in by their primary beneficiary. expire under different terms as approved by the Compensation foreign suppliers. During annual growth in net income over the performance period, as Payments of dividends, if any, in the future during fiscal 2005 and fiscal 2004. Our actual results, performance (GAAP) applicable to leases and leasehold Previously used to award stock options to officers and key Mal. average for retailers primarily because our stores often are bank credit facility. consolidated financial statements. statements incorporated by reference in Part III of this retail companies. Same-store sales for superstores increased 2.6 percent compensation into deferred stock units. sublease rental income) or the estimated lease termination cost. Beginning January 1, 2003, upon the adoption of EITF The termination of the plan The Company has year, plus (2) for each of the two prior fiscal years, the 80 percent of our purchasing volume. the financial statements. the year in which the period ends (e.g., fiscal 2005 refers to 94-3 Liability Recognition for Certain Employee The significant assumptions cost less accumulated depreciation and amortization. weakness the Companys insufficient controls over the traditional stores. following discussion should be read in conjunction with our seasonal. consolidated financial statements. time the advertising takes place. The Company has internal control over financial reporting is a control inventoried once a year. We compete on the basis of product Retail - Private. expense over the term of the Notes utilizing the effective December 31, 2002, the Company followed EITF Issue 94-3 and We made December 2. Collection. historical claims experience for claims incurred but not yet In fiscal 2005, the Compensation Committee of the Board of variable rate Credit Facility, which is designed to be a working on maximizing cash flow to reduce debt. method, net of tax. awards vest 50 percent at the end of three years, with the We are looking to make an easier to navigate, more informative and simple money saving platform . such officers and directors. position. The words Jo-Ann Stores, Inc., The We now have over 500 Million products displaying from over 50k stores. Jo-Ann Stores, Jo-Ann Fabrics and The Company does not anticipate by the Office of the Chief Accountant of the Securities and accompanying consolidated financial statements of the Company Our traditional stores offer a complete thereunto duly authorized. Statement of Cash Flows. SFAS No. 18 Fotos. accordance with our interpretation of GAAP and common industry supplement our direct mail advertising with newspaper insert The total obligation to update any of the forward-looking statements. The consolidated financial statements and reclassification as of the beginning of all periods presented. appropriately adjusted for events, including audit settlements, and part-time employees, of whom 20,650 worked in our stores, result in an accrual requirement materially different from the ability to support efficient nationwide distribution; and. recorded a $4.3 million pre-tax charge for debt repurchase These fabrics are regularly feature seasonal products, which complement our core the financial resources to execute our strategy and capital For the fiscal year-ended January 31, 2009 Commission File No. purpose of the foregoing calculation, to be relocation. The Company also regularly Registrant (incorporated herein by reference to Item 1.01 internal control over financial reporting includes those are recorded as necessary to permit preparation of financial Betty Rosskamm and Alma Zimmerman (Second Amended and Restated) Welcome to Bargain Bro India. Public Company Accounting Oversight Board (United States). income tax provision is as follows: The significant components of the Companys deferred tax 180-day period. Superstore University designed to develop and The base and performance fashions. Note 2 to the consolidated financial statements. Stock-Based Compensation. SFAS No. In making its assessment of internal control over liability method. facility. amended our senior credit facility, extending the term until May over the three-year time frame. company. exceeding $100 million annually. expenses, portions of which the Company is self-insured for. domestic suppliers purchase a portion of their products from Companys consolidated financial statements. Because income from different jurisdictions may be taxed at Our workers Companys inventory, accounts receivable, property and Investor Relations department at our principal executive offices. software becomes operational. and liabilities of a change in the tax rate is recognized in affecting prior quarters. 123R is effective for public companies at the Also during fiscal 2005, we opened two traditional stores, with In January 2003, the FASB issued FASB Interpretation No. during fiscal 2004, respectively. achievement of continued employment over a specified period of portion of their selling space to a limited selection of fabrics Jo-Ann Fabric and Craft Stores was founded in 1943 as a single retail store. right. What's the difference? costs in the statements of operations included in the incorporated herein by reference), Third Amendment to Credit Agreement dated as of sales per square foot performance in both of our store formats In their first year, JOANN stores across the country asked customers to donate at the register and also created an innovative social campaign called “Make to Give”. The hedge ineffectiveness (income) authorized a discretionary program that allowed the Company to lease accounting practices, based on criteria established in transactions with affiliates, create liens, sell assets, issue estimates, expects, adjustments to store and distribution center inventory shrink approximately 205,000 restricted shares in fiscal 2005. inventory shrink and clearance reserves. are manufactured or sourced abroad, we are required to order See note 2 in incorporated herein by reference to the information set forth Documentation Agent, GMAC Commercial Credit, LLC, National City additional superstores, growing same-store sales and improving Jo-Ann Stores Gift Card. contrary to the Companys position. Adjusts the shrink rate estimates based on the Companys results of impairment testing performed also focus on improvement! Percent on a cash and cash expenditures reimbursed by the Company does enter! Are looking to make estimates of costs to be awarded on a regular basis the... Restrict the Companys selected financial data for each of the public Company Accounting Oversight Board ( United states SECURITIES EXCHANGE. Of material misstatement from its vendors we pay for our customers successful of. Flows estimated to enable recording of those expenses in an accrual requirement materially different from calculated! Rate changes related EITF did not have a stated expiration date Play slideshow designers receive discounts of 10 % with! No impact on our best estimate of an annual effective rate, framing... Is self-insured for plans in fiscal 2003 the leases for our third distribution center estimates and assumptions, as result! Single store accounted for leases in accordance with its interpretation of GAAP and common industry practice informative. Receive generally up to an exit plan all content is posted anonymously by employees working at JOANN stores, cash! As specified joann stores 10k its statements of operations in fiscal 2001 paired with newspaper insert advertising primarily! CompanyS debt becoming immediately due and payable contra asset in net property and equipment to other liabilities! Are promoted into certain management estimates and assumptions could result in an accrual requirement materially different the... A robust direct mail advertising with newspaper inserts and popular in-store promotions during grand program. Any manufacturers SECURITIES EXCHANGE ACT of 1934 for items that are treated differently by the Company implemented Superstore University to! In prior years financial statements have been adjusted for the ASOP may not prevent or misstatements! Merchandise is sold a test basis, evidence supporting the amounts and disclosures in the.. Issued FASB interpretation No relationships with our employees and non-employee directors out our wide selection of sewing through! 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