JOANN Inc. [Rocket]

In millions, except per share items	Jan-28-23	Jan-29-22	Jan-30-21	Feb-01-20	Feb-02-19
	10-K	10-K	10-K	10-K	10-K
Total revenues	2,217	2,418	2,762	2,241	2,325
Revenue growth	-8.3%	-12.5%	23.3%	-3.6%
Unit growth	-1.8%
Cost of goods sold	1,177	1,205	1,396	1,136	1,148
Gross profit	1,040	1,213	1,366	1,105	1,177
Gross margin	46.9%	50.2%	49.5%	49.3%	50.6%
Selling, general and administrative	111	5	4	494	951
Other operating expenses	-95			-487
EBITDA [+]	1,105	1,288	1,442	1,175	225
EBITDA growth	-14.2%	-10.7%	22.7%	422.1%
EBITDA margin	49.8%	53.3%	52.2%	52.4%	9.7%
Depreciation	72	73	73	70	76
EBITA	1,033	1,215	1,369	1,105	149
EBITA margin	46.6%	50.2%	49.6%	49.3%	6.4%
Amortization of intangibles	9	7	7	7
EBIT [+]	1,024	1,208	1,362	1,098	149
EBIT growth	-15.2%	-11.3%	24.1%	636.3%
EBIT margin	46.2%	50.0%	49.3%	49.0%	6.4%
Non-recurring items [+]	95			487
Asset impairment	95			487
Interest expense					101
Interest expense	64	51	69	102	101
Other income (expense), net	-1,137	-1,087	-1,053	-1,044	-2
Pre-tax income	-272	70	240	-535	46
Income taxes	-73	13	28	12	10
Tax rate	27.0%	18.7%	11.7%		22.6%
Net income	-201	57	212	-547	34
Net margin	-9.0%	2.3%	7.7%	-24.4%	1.5%

Basic EPS [+]	($4.93)	$1.39	$6.08	($15.67)	$0.98
Growth	-454.7%	-77.2%	-138.8%	-1706.3%
Diluted EPS [+]	($4.93)	$1.35	$5.93	($15.67)	$0.96
Growth	-466.0%	-77.3%	-137.8%	-1726.8%

Dividends per share [+]	$0.33	$0.30
Growth	10.0%

Shares outstanding (basic) [+]	41	41	35	35	35
Growth	-0.2%	16.9%	0.1%	0.1%
Shares outstanding (diluted) [+]	41	42	36	35	35
Growth	-3.3%	17.6%	2.6%	-1.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.