In anticipation of increased store traffic this holiday shopping season, Jo-Ann has announced plans to hire more than 3,000 seasonal employees in stores across the country — a 14% increase over its non-seasonal in-store workforce.
While many retailers are boasting about opening on Thanksgiving Day night to give shoppers an early start on the Black Friday weekend, Jo-Ann Fabric and Craft Stores is going in a different direction and will stay closed for the holiday.
Jo-Ann Stores has announced the promotion of Travis Smith to CEO effective immediately, replacing Darrell Webb. Webb will retain his position as chairman of the board for Jo-Ann Stores and become the interim CEO of Sports Authority. Jo-Ann and Sports Authority are both owned by Leonard Green & Partners, L.P.
Jo-Ann Stores announced that it has entered into a definitive agreement to be acquired by an affiliate of Leonard Green & Partners, L.P., for a total price of approximately $1.6 billion, or $61 per share in cash.