Hancock Fabrics is reporting a loss of $45.9 million for the fiscal year that ended Feb. 3.
The Baldwyn-based company said Tuesday total sales were $376.2 million, a 3 percent drop from a year earlier. Same-store sales were down 1.9 percent.
A year ago, Hancock reported a net loss of $30.3 million on sales of $388.8 million. Same-store sales were down 6.2 percent.
The new earnings report comes after the craft and fabric retailer filed for Chapter 11 bankruptcy protection a year ago March.
Documents filed with the U.S. Securities and Exchange Commission show Hancock plans a new store prototype, a new financial reporting method and a product re-merchandising program.
In addition, the company said it intends to present its business plan and begin formulating a plan of reorganization before April.
Hancock expects to exit Chapter 11 two to three months later, according to the filing.
As of Feb. 3, Hancock operated 403 stores in 40 states and had 5,200 employees.
A Louisiana man is behind bars after police found various stolen items in his hotel room on Friday. Michael Smith, 39, was arrested at Broadway Inn located at 1818 Broadway Drive in Hattiesburg. When authorities searched his room they found three rifles, one shotgun, one handgun, 14 knives, various types of ammunition, two gun safes, one jewelry box, jewelry, wallets, lighters, cigarettes, backpacks, bags, rolls of silver coins, narcotics, driver’s licenses from victims, ...More >>
Just before 6: 00 p.m. crews with the Hattiesburg Fire Department and the Hattiesburg Police Department responded to a vehicle accident on Interstate 59 near mile marker 65 with someone trapped in the car. We have crews headed to the scene and we’ll update you with information as it becomes available. Copyright 2018 WDAM. All rights reserved.More >>
Parts of downtown Hattiesburg will soon be a bit brighter at night, thanks to a new partnership between the city and the Historic Hattiesburg Downtown Association. Phase One of a new permanent lighting project that began last week continued in Hattiesburg Saturday, with crews attaching lights along portions of Main and Front streets. They're being strung in a crisscross pattern high above street level. The lights can be programmed ...More >>
The Democratic candidate for Congress in the 4th District officially kicked off his campaign in Hattiesburg Saturday morning. State representative Jeramey Anderson of Moss point hosted a rally downtown at the Historic Train Depot. "Onward" is his campaign theme. "No more of doing the old ways, no more of thinking this regressive thought," said Anderson. "We're moving onward towards a new Mississippi, towards a new, innovative and progressive ...More >>