JOANN Inc. reported earnings results for the second quarter and six months ended July 31, 2022. For the second quarter, the company reported sales was USD 463.3 million compared to USD 496.9 million a year ago. Net loss was USD 56.9 million compared to net income of USD 5.2 million a year ago. Basic loss per share from continuing operations was USD 1.4 compared to basic earnings per share from continuing operations of USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 1.4 compared to diluted earnings per share from continuing operations of USD 0.12 a year ago.
For the six months, sales was USD 961.3 million compared to USD 1,071.3 million a year ago. Net loss was USD 92 million compared to net income of USD 20.3 million a year ago. Basic loss per share from continuing operations was USD 2.26 compared to basic earnings per share from continuing operations of USD 0.5 a year ago. Diluted loss per share from continuing operations was USD 2.26 compared to diluted earnings per share from continuing operations of USD 0.49 a year ago.