Is Joann Fabric Going Out Of Business 2024?

About Joann Fabric

Joann Fabric is an American fabric and craft store that was founded in 1943 by German immigrants. And today, the brand has expanded to approximately 850 locations in 49 states.

Joann Fabric is Closing Stores

Joann Fabric announced in November 2022 that it would be closing eight of its stores across the U.S., including stores in Batavia, Marion, Bridgeport, and Keene.

Joann Fabric is Closing Stores

During both the mall and individual store closures, Joann Fabric held store-wide liquidation sales and gave massive discounts of 40%-60%.

Why Is Joann Fabric Closing Stores?

In alignment with standard brick and mortar business processes, JOANN closes stores occasionally while simultaneously investing in, and opening brand new stores to best meet the needs of our customers.

Joann Full Year Fiscal 2023 Results

Net sales of Joann declined by 8.3% to $2.2 billion. Also, the total comparable sales declined by 8.1% as compared to the previous year.

Is Joann Fabric Going Out Of Business?

Any store closures that we have planned are part of our normal business evaluation process,” the company wrote in a tweet on Nov. 28.