Hancock Fabrics’s CEO says the company is “heading in the right direction” after reporting an increase in same store sales for the fourth quarter.
A major new credit agreement has been secured by the 262 store Hancock Fabric chain with Wells Fargo Capital and the newly formed Great American Capital Partners subsidiary of B. Riley Financial.
Hancock Fabrics has announced that James B. Brown will be joining Hancock Fabrics as EVP and CFO on March 18, reporting to Steve Morgan, president and CEO.
Hancock Fabrics reported that net sales for the second quarter increased 5% to $60.5 million from $57.8 million for second quarter of last year, and comparable-store sales improved by 5%.
Hancock Fabrics reported that net sales for the quarter were $63.1 million compared with $64.1...