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Hancock Fabrics: Miscellaneous
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Hancock Fabrics, Inc.reported on February 8 that sales in the five-week period ended February 3, 2007 totaled $35.1 million, compared to $31.9 million in the four-week period of the prior year ended January 28, 2006. The increase in total sales was due to having an extra week in 2006, partially offset by having 44 fewer stores this year and a decline in comparable store sales of 4.0% in January attributable, in part, to difficult weather conditions in the Southwest and Midwest. The comparable store sales change is based on sales during the four weeks of January that were comparable between both years.
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"We are pleased to have been selected by Hancock Fabrics to perform their EDI operations and enablement program," commented Archie Black, President and CEO of SPS Commerce. "It is our pleasure to work with their vendors one-on-one to see that the EDI connection is a rapid and simple solution for all, whether they select to test their existing EDI system or use one of our outsourced EDI services."
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Hancock Fabrics, Inc. announced today that, as part of its ongoing review of store performance, it is closing 104 stores, representing approximately $75 million in annualized sales. These closings are in addition to the 30 store closings disclosed in a press release dated February 8, 2007.
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