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Jo-Ann Stores Same-Store Sales Up

BY CSA STAFF

Hudson, Ohio Jo-Ann Stores Inc. announced its financial results on Wednesday for its fiscal 2008 fourth quarter and full year ended Feb. 2.

Net sales for the fourth quarter decreased 2.5% to $585.9 million compared to the same period last year. On a comparable 13-week basis, 4Q same-store sales increased 3.3% vs. a same-store sales decrease of 6.0% in last year’s fourth quarter.

According to the company, large-format stores net sales for the quarter decreased 1.5% to $293.2 million, compared to the same period last year. On a comparable 13-week basis, same-store sales for large-format stores increased 2.4%, vs. a decrease of 7.2% in last year’s fourth quarter. Small-format stores net sales decreased 7.4% to $280.8 million compared to the same period last year. On a comparable 13-week basis, same-store sales for small-format stores increased 4.2% vs. a decrease of 5.1% in last year’s fourth quarter.

 

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Blue Nile cfo steps down

BY CSA STAFF

SEATTLE Blue Nile has announced that Robin Easton has resigned from the role of cfo to pursue other interests, effective March 31. The company said it has begun a search to fill the cfo position.

Upon Easton’s resignation, Terri Maupin, the company’s vp of finance and controller, will assume the duties of the principal financial and accounting officer. Maupin has served as the company’s vp of finance since July 2004 and controller since September 2003. Prior to Blue Nile, Maupin served as the staff vp of finance and controller at Alaska Air Group.

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MGP Ingredients ceo resigns

BY CSA STAFF

ATCHISON, Kan. Ladd Seaberg has announced that he is stepping down as ceo of MGP Ingredients, effective immediately. Seaberg will continue to serve as chairman of the board of directors. He is being succeeded as ceo by MGPI President Tim Newkirk, who has also served as coo of the company since May 2006.

“I am very comfortable with the timing of this transition from my role as ceo, and have the utmost confidence in Tim Newkirk’s abilities to lead our company forward,” Seaberg said.

Seaberg became chairman of MGPI’s board in October 2006, succeeding Cloud Cray, who had held the post for 26 years. He has served as ceo of the company since 1988.

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