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kathyg_in_mi

Fabric at Walmarts

kathyg_in_mi
15 years ago

Found this info in an article about JoAnn's. There goes our Walmart fabric it seems. Darn!

Monday April 14, 8:09 pm ET

Jo-Ann Stores Climbs As Analyst Raises Price Target, Cites Strong Product Demand

NEW YORK (AP) -- Shares of Jo-Ann Stores Inc. rose Monday as an analyst lifted the craft-supplies retailer's price target, citing strong product demand.

Joan Storms of Wedbush Morgan Securities sees solid traffic and purchases at Jo-Ann, along with good performances at its crafting workstations and fabric-cutting stations.

The Hudson, Ohio-based company also appears to be pulling in more fabric business because of Wal-Mart Stores Inc.'s exit from the category, as well as bankruptcy filings at Hancock Fabrics and Rag Shops, the analyst added in a client note.

Storms boosted her price target to $15.50 from $13 and reaffirmed a "Hold" rating.

Jo-Ann Stores' stock gained 51 cents, or 3.1 percent, to $17.01 Monday. The shares have traded in a 52-week range of $9.03 to $34.75.

Comments (10)

  • birdtalker
    15 years ago

    More like they are doing well because of monopoly. Joann's offered good fabric, wool and linen and such until they bought out and closed the competition and then they went to the cheap stuff and now almost all the fabric is marked made in China. And there is nowhere else to go. I have heard of people going clear to another state to shop for fabric. Most of us still love to sew, and buy lots of material, wouldn't it be nice if Joann's still offered good material?

  • annie1971
    15 years ago

    It's hard to get fabric that isn't made in China anymore. Even Waverly and Scottish Woolens are being milled in China. That's revolting. I used to work at a fabric store part time. We got fabric from India that smelled so bad and was so greasy feeling, they had to pull it off the shelf and send it back to the manufacturer. Joann's doesn't need to buy up the competition and then sell junk fabric. They want to sell that crafty and seasonal stuff (like Walmart), but they don't want anyone else selling decent fabric. I want to see a fabric store that just sells fabric. We have a beautiful one here, but they're prices are way beyond my budget. I hope they don't close our Hancock store. I get some of my best inspirations there.

  • soonergrandmom
    15 years ago

    I am really mad at Wal-mart because they undercut so badly that the other stores couldn't survive and now they are dropping that department.

    I never liked JoAnn's and about 15 years ago I bought two pieces of fabric for a prom dress. After I got it made, I discovered both pieces were defective. I never bought another piece of fabric from them. I can't imagine them being worse than they were then and still being in business. I always liked Cloth World and Hancocks.

  • teresa_nc7
    15 years ago

    Thank goodness I have Mary Jo's a two hour drive away! If you are ever near Charlotte NC, the city of Gastonia and the wonderful Mary Jo's Cloth Store is very close by.

    I also love going to Lancaster PA for my quilt fabric each year. Next year will be my tenth year in a row! But if gas prices continue to climb, our group trip may become a thing of the past. :o(

  • damascusannie
    15 years ago

    I'm going to NC in June for a sewing machine collector's gathering and one of our field trip's is to MaryJo's! I've been hearing about it for years and can't wait to go!

    Annie

  • sheesh
    15 years ago

    I'm surprised to hear all the bad talk about JoAnn! I've been sewing for 35 years and buy all my fabric there and at Hancock with nary a problem. The JoAnn near me is a superstore with tons of beautiful fabrics in addition to all the craft supplies. I sure hope they don't close my Hancock, though.

    What were the defects in the prom dress fabric, Sooner?

    Sherry

  • ndstitch
    15 years ago

    Hey this is just business as usual at Walmart. I have not been in one for over 10 years. I DO have to go in Sam's club once in a blue moon to pick up some Simple Green cleaner, but I cannot find it anywhere else at all. And I go on a friend's card.

    I don't have anything against JoAnn, they are simply buying their fabric where it is least expensive. I blame our government, though for allowing unfair competition for American workers. Those fabric/textile companies in China are subsidized. It is cheaper to take US cotton, ship it overseas, have it made and ship it back than to make it here. With all our regulations (OSHA, etc) and the foreign subsidies, there is no way we can compete.

    It would be one thing if we got a quality product from China, but I've yet to discover anything they have not made MUCH worse. Buttons that fall off your shirts, appliances that cannot be repaired when they break down in about 20 minutes, and now unsafe toys, toothpaste and pet food. When are our politicians going to protect us? Both as workers and ALSO as comsumers. (I don't blame either political party, I blame them BOTH)
    Donny

  • tryingcake
    15 years ago

    teresa_nc7, I love Mary Jo's. I live in California now, but grew up in the Charlotte/Belmont area. I'm in the Los Angeles area, and yes, we have the fabric district. But it's such a pain to go there, that I just don't. I do have a shop similar to Mary Jo's nearby, but it's still inferior cloth for the most part.

    I'm not thrilled about Wal-Mart or Joann's. but it's not like we have many choices.

  • susie53_gw
    15 years ago

    We don't have much choice here either. I do go to the big JoAnns in Indy when I have time. It is really a nice store. We have a Hobby Lobby but they don't carry alot and it is really high priced.

  • ouchless_bandaid
    15 years ago

    I've recently moved to a new town and was very suprised to find how hard it is to get any kind of fabric around here. Whe have a Hancock's, Hobby Lobby and Wal-Mart which all carry fabric but the selection is so small it's almost not worth it. The prices of these fabrics makes it an even more painful process to sew something. I've turned to the internet for my fabric. I don't like this completely though either for the reason that you can't touch the fabric.