HUDSON, Ohio--(Business Wire)--
Jo-Ann Stores, Inc. (NYSE: JAS) today announced that Alan
Rosskamm, a Director of Jo-Ann Stores and a member of one of the
founding families, has entered into a stock trading plan under Rule
10b5-1 of the Securities Exchange Act of 1934, as amended. Under the
plan, Rosskamm Family Partners, L.P. and Caneel Bay Partners, L.P., of
each of which Mr. Rosskamm is a general partner, may sell shares of
Jo-Ann Stores as part of the Rosskamm family long-term asset
diversification strategy.
Rule 10b5-1 allows directors and corporate officials to adopt
written, pre-arranged stock trading plans when they do not have
material, non-public information. Using these plans, insiders can
spread stock trades out over an extended period of time to reduce any
market impact, while avoiding concerns about the initiation of stock
transactions when in possession of material, non-public information.
The transactions under the plan will be publicly disclosed through
Form 4 and Form 144 filings with the Securities and Exchange
Commission.
Jo-Ann Stores, Inc. (http://www.joann.com), the leading national
fabric and craft retailer with locations in 47 states, operates 196
large-format stores and 578 small-format stores.
Investors:
Integrated Corporate Relations, Inc.
Brad Cohen, 330-463-6865
http://www.joann.com
or
Public Relations:
Jo-Ann Stores, Inc.
Lisa Greb, 330-463-3442
Director, Public Relations
Copyright Business Wire 2008
