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    JOAN   US47768J1016

JOANN INC.

(JOAN)
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JOANN : Launches Second Annual Minority Creative Grant Program to Support Hispanic Creatives

09/15/2021 | 08:12am EDT

Leading fabric and craft retailer to award 20 entrepreneurs with grants totaling $100,000 in support of Hispanic Heritage Month

HUDSON, Ohio, September 15, 2021 - JOANN, the nation's category leader in sewing and fabrics and one of the fastest growing competitors in the arts and crafts industry, is launching its second annual Minority Creative Grant program to support Hispanic creatives. The program will run in conjunction with Hispanic Heritage Month and will provide grants totaling $100,000 to 20 Hispanic business owners in need of financial support.

In addition to $5,000 in JOANN credit, each grant recipient will receive a new Cricut -- an electronic cutting machine -- to help increase their creativity and handmade offerings. They will also have the opportunity to connect directly with JOANN's marketing team to discuss best practices for branding, customer retention, social media and more. Additionally, winners will be considered for paid roles with JOANN, and will receive visibility on JOANN's marketing channels including email and social media.

The program returns after last year's launch that supported Black creative business owners. The inaugural program drew more than 2,300 applications from talented entrepreneurs nationwide, and winners have continued to see the impact of the grant on their businesses.

'Winning the JOANN Minority Creative Grant was the catalyst that kick-started a new chapter of my business and sparked a new flame of creativity for it,' said Champagne Brown, 2020 Minority Creative Grant winner and artist/owner of @popshopjewelry. 'With the JOANN cash, not only was I able to stock up on supplies that would have taken me a long time to save up for, but I was also able to gain access to materials that were in short supply due to a production shortage thanks to COVID-19.'

'In order to inspire creativity and recognize the influence of Hispanic Americans in culture and the arts, we are continuing our Minority Creative Grant program, this season focusing on Hispanic crafters and sewists who have traditionally faced challenges including underrepresentation in the U.S. arts and crafts industry,' said Janet Duliga, Chief Administration Officer and Executive Sponsor of Diversity & Inclusion at JOANN. 'We hope these grants enable the recipients to propel their businesses to the next level. We want to encourage artists within the Hispanic community to continue to pursue their dreams of Handmade Happiness.'

A cross-functional team at JOANN will review the applications and rate them based on creativity, passion, level of financial need and other aspects to determine the top winners. Runners-up will also be recognized for their efforts with a prize package.

JOANN continues to reinforce its position as the most inclusive retailer in its space, celebrating diverse cultures and identities with assortments such as its Black Excellence, Pride, and Women's Empowerment collections. Lead Product Designer Anthony R. Davila recently curated a selection of Hispanic American Heritage Month fabrics for JOANN shoppers, which celebrate the culture with bright designs and intricate motifs. Along with the Hispanic Heritage Month fabrics, the JOANN Crafted Content team also created a selection of kid-friendly crafts, including Mexican Pinch Pots, Papel Picado, and Tortilla Warmers.

Applications will open on September 15 to residents of the United States who are 18 and older. For more information on terms and conditions, to see more from last year's winners or to apply, visit www.joann.com/minoritycreativegrants. Winners will be announced during the first week of December 2021.

For more information on JOANN's diversity and inclusion efforts, visit joann.com/diversity-inclusion/.

About JOANN

For more than 75 years, JOANN has inspired creativity in the hearts, hands and minds of its customers. From a single storefront in Cleveland, Ohio, the nation's category leader in sewing and fabrics and one of the fastest growing players in the arts and crafts industry has grown to include 855 stores across 49 states and robust e-commerce business. With the goal of helping every customer find their creative Happy Place, JOANN serves as a convenient single source for all of the supplies, guidance and inspiration needed to achieve any project or passion.

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Disclaimer

Joann Inc. published this content on 15 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2021 12:11:05 UTC.


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Sales 2022 2 463 M - -
Net income 2022 95,5 M - -
Net Debt 2022 600 M - -
P/E ratio 2022 5,04x
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Mean consensus BUY
Number of Analysts 9
Last Close Price 11,13 $
Average target price 15,25 $
Spread / Average Target 37,0%
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Managers and Directors
Wade D. Miquelon President, Chief Executive Officer & Director
Matt Susz Chief Financial Officer & Senior Vice President
Varadheesh Chennakrishnan Chief Information Officer & Senior Vice President
Janet Duliga Chief Administrative Officer & SVP
Darrell D. Webb Independent Director
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