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House of Fabrics Profit Rises 9% for 4th Quarter

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House of Fabrics said its fiscal fourth-quarter profit rose 9% from a year earlier on a 10% increase in sales.

The Sherman Oaks company, which operates a chain of 653 fabric and sewing-accessories stores, said net income in the quarter that ended Jan. 31 climbed to $4.73 million from $4.33 million, and sales increased to $100.8 million from $91.9 million.

House of Fabrics attributed the gains to its recent restructuring, in which the company phased out many of its smaller mall stores and opened larger, stand-alone outlets. The new stores are more popular because they offer more merchandise and are more convenient for customers, House of Fabrics contends.

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For its full fiscal year, House of Fabrics’ profit rose 9% to $11.4 million from $10.5 million, and its annual sales were up 5% to $338 million from $322.5 million.

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