JOANN Inc. reported earnings results for the fourth quarter and full year ended January 28, 2023. For the fourth quarter, the company reported sales was USD 692.8 million compared to USD 735.3 million a year ago. Net loss was USD 91.1 million compared to net income of USD 13.6 million a year ago. Basic loss per share from continuing operations was USD 2.23 compared to basic earnings per share from continuing operations of USD 0.33 a year ago. Diluted loss per share from continuing operations was USD 2.23 compared to diluted earnings per share from continuing operations of USD 0.32 a year ago.
For the full year, sales was USD 2,216.9 million compared to USD 2,417.6 million a year ago. Net loss was USD 200.6 million compared to net income of USD 56.7 million a year ago. Basic loss per share from continuing operations was USD 4.93 compared to basic earnings per share from continuing operations of USD 1.39 a year ago. Diluted loss per share from continuing operations was USD 4.93 compared to diluted earnings per share from continuing operations of USD 1.35 a year ago.