Hancock Fabrics reports net income of $75.86 million for March

By Sheri Kasprzak

New York, April 21 – Hancock Fabrics, Inc. reported $75,868,000 net income on $34,829,000 net revenue between Feb. 28 and April 2, said a monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company posted a net loss of $3.96 million for the period of Feb. 2 to Feb. 27 on $21.72 million in net revenue.

Hancock had $4,292,000 in cash and cash equivalents on hand as of April 2, up from $2.95 million on Feb. 27.

Based in Baldwyn, Miss., Hancock is a specialty retailer of fabric and related home sewing and decorative accessories. The company filed for bankruptcy on Feb. 2 under Chapter 11 case number 16-10296.

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