House of Fabrics Profit Rises 60% in 1st Quarter

House of Fabrics said its fiscal first-quarter profit jumped 60% from a year earlier on a 9% increase in sales.

The Sherman Oaks-based company, which operates 619 fabrics and sewing stores, said net income in the quarter that ended April 30 rose to $2.15 million from $1.34 million, while its sales climbed to $86.4 million from $79.5 million.

House of Fabrics attributed the gains to an ongoing conversion of its stores from smaller, shopping-mall units to larger “superstores” that maintain higher profit margins and to increased demand for home-sewing products.