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House of Fabrics Posts 61% Increase in Profit

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House of Fabrics, a national chain of fabric stores based in Sherman Oaks, reported 61% higher profit on 11% higher sales for its first quarter, ended April 30.

First-quarter earnings were $1.2 million, or 18 cents a share, versus $748,000, or 11 cents a share, in the same quarter a year ago. Sales were $71.2 million, up from $64 million a year earlier.

The year-ago figures include $2.9 million in sales from 35 Craft Showcase stores that House of Fabrics has since sold, has closed or is closing. The stores sell crafts items such as embroidery.

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Company President Gary L. Larkins attributed the improved showing to better coordination of inventory with sales promotions and to the success of House of Fabrics’ 116 so-called super stores.

House of Fabrics has 741 stores nationwide, more than any other home-sewing retailer.

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