Jo Ann Store Near Me (2024)

FAQs

Is Michaels or Joanns better? ›

Price vs Value

While Michaels is stocked primarily with top of the line products, Joanns offers a broader selection of cheaper, lower-quality products. But while Joanns might seem cheaper in the short term, there is an argument to be made that shopping at a Michaels store will save you more money over a longer-term.

Joann Inc.

JOANN / Parent organization

Fabric and crafts retailer Joann declared bankruptcy on Monday amid spending cutbacks from consumers and higher operating costs. The retail chain said it plans to keep its 800-plus stores open while it works through the restructuring process.

Hudson, OH

JOANN / Headquarters

Generally speaking, Hobby Lobby has lower prices on identical products. However, while Michaels' store prices tend to be higher, Michaels also carries a greater range of high-end products. This means that while you may save money at Hobby Lobby, you might miss out on better quality options.

The company's competitors, Michael's and Hobby Lobby, are both privately owned, so it is unclear how they have performed amid those economic headwinds. The private equity firm Leonard Green & Partners bought Joann for roughly $1.6 billion in 2011, and spun it off publicly in 2021.

Despite Joann's debt, the business is in a promising place, according to the bankruptcy filing. 96% of stores have positive cash flow. Additionally, online sales accounted for 13% of revenue in fiscal 2024, the filing said. Stores and online sales will continue to operate with no changes, Joann said.

Retail History. In 1943, German immigrants Hilda and Berthold Reich, Sigmund and Mathilda Rohrbach, and Justin and Alma Zimmerman opened the Cleveland Fabric Shop in Cleveland, Ohio. After further expansion, in 1963, the name was changed to Jo-Ann Fabrics.

JOANN's competitors and similar companies include Michaels Stores, Hobby Lobby, Wescover and Dormify. Jo-Ann Stores (also known as JOANN Fabric & Craft) is a company that distributes sewing, arts, and crafts devices. Michaels Stores is a company that retails arts and crafts materials.

Can you return things at Joanns? ›

Whether your purchase was made in-store or on joann.com, last month or last year, you can visit any JOANN store for a hassle-free refund with a smile. See details below. Returns made with the receipt will be refunded in the original method of payment. Refunds from online orders will not include the cost of shipping.

The average one-year price target for JOANN Inc. is $1.53. The forecasts range from a low of $1.52 to a high of $1.58. A stock's price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings.

1963: With 18 Cleveland Fabric Shops in Ohio, the business is renamed Jo-Ann Fabrics (the families combined the names of their daughters, Joan Zimmerman and Jacqueline Ann Rosskamm). 1968: Name is changed to Fabri-Centers of America Inc.

TO HELP YOU FIND YOUR HAPPY PLACE. Since 1943, we've grown from a favorite fabric destination to your one-stop shop for sewing, knitting, crocheting, crafting & decorating your home for every season! JOANN operates approximately 850 stores in 49 states.

Leonard Green & Partners

JOANN / Owner

Are Joann Fabrics and Michaels owned by the same company? No. They are owned separately and are competitors. Michaels was founded in 1973 by Michael Dupay and is headquartered in Irving, Texas.

JOANN has 673.99% upside potential, based on the analysts' average price target. JOANN has a consensus rating of Hold which is based on 0 buy ratings, 2 hold ratings and 0 sell ratings.

At JOANN, you can shop for your favorite yarn from some of the most trusted brands such as Lion Brand Yarn, DMC Floss, Red Heart Yarn, Bernat Yarn and K+C Yarn among others. You can pick yarn made from cotton, wool, viscose, acrylic, polyester and so much more to craft blankets, socks and home decor accessories.