Originally Posted by fabricmaniac
Originally Posted by mygirl66
I just got home from Jo-Ann Fabrics. I havnt been there for awhile because I have been working so much, so its been about 3 months or so. I saw a few fabrics I REALLY liked on the calico wall, and they are $1 off a yard, so I thought good deal. Nope, they went up to $9.99 a yard on most, how sad. When I got up to the register, the young lady asked why I looked so sad, I told her the prices have gone up so much since I have been there last. THEN she tells me they were bought out last week by the people who own Pet Smart, and fabric is going up NEXT WEEK $2-$3 more per yard, I almost cried.
Pet Smart bought JoAnn's... Huh? That just seems crazy. You'd be better off buying your fabrics from a quilt shop when they are 20-40% off or such. The fabrics are of a much higher quality than JoAnn's who I think has no business charging so much for "lesser" quality fabrics (for the most part). I also do a fair amount of sales shopping on line.. top of the line fabrics for less than JoAnns has the nerve to charge! I only buy notions there.
They were not bought out by Pet Smart...
HUDSON, Ohio -- Jo-Ann Stores Inc., one of the few national retailers that prospered during the recession, has agreed to be acquired by a private equity firm in Los Angeles for $1.6 billion.
The deal with Leonard Green & Partners LP promises a premium for shareholders and should mean few changes for consumers at Jo-Ann's 756 stores, analysts said.