House of Fabrics Posts 69% Gain in 4th Quarter

Citing the continued expansion of its huge “super stores,” House of Fabrics said its net income for the fourth quarter ended Jan. 31 jumped 69% from a year earlier to $2.3 million, or 34 cents per share. Sales rose 4% to $89.7 million.

For the fiscal year, the Sherman Oaks-based chain of sewing-supplies stores said net income was $6.2 million, or 94 cents per share, up 45% from the year earlier. Sales rose 10% to $316.4 million.

Like many other retailers, House of Fabrics has found it advantageous to own fewer, but larger, stores--hoping to lower overhead costs while raising volume. In the past year, the firm has increased its number of 10,000- to 20,000-square-foot super stores from 109 to 152.