Hancock Fabrics CEO Leaving

Update: On April 26, 2011, the following message was released when Hancock’s reported a loss for the 2010 fourth quarter: “Steven Morgan, interim president and CEO since February, commented, ‘We incurred significant one-time non-cash charges in the fourth quarter as we took actions to improve our business. The most significant charge was related to anticipated markdowns on aged products. These markdowns have been implemented, and will allow us the scope to liquidate these aged goods quicker as we move forward and ensure we have current, relevant merchandise for our customers.'” Can you say BIG SALE? 🙂

Most shoppers won’t be affected, but Hancock Fabrics just announced that the contract of its CEO, Jane F. Aggers, won’t be renewed and will expire January 28. Ever since the store closest to me closed, I haven’t even shopped at Hancock Fabrics. There are two farther away in my region. Do you shop at Hancock’s, and how does it compare to other fabric stores such as Jo-Ann’s? Please comment below. Jo-Ann Fabrics has had its own big news recently, though noone I’ve asked at my local store was aware of it! See news about Jo-Ann’s.
More on Hancock Fabrics’ announcement.

5 thoughts on “Hancock Fabrics CEO Leaving

  1. I shop at Hancocks because it is just around the corner from me (about 5 minutes). The only difference between JoAnns and Hancocks in my opinion is that JoAnns has more of everything. The fabric quality is about the same. Hancocks seems to have more pattern sales though. All in all I shop at an upscale fabric store when I need good fabric….

    1. I have no Hancock’s nearby, so thanks for the comparison. Sewing is quite popular right now, so I think the industry takes advantage of the fact that people are going to buy anyway. But I hope these comments will help. Thanks, Marsha!

  2. Ever since the original employment of the idiot female CEO at Hancock’s, resulted in her obtaining a first year bonus of $11 million dollars and the subsequent closing of numerous Hancock Stores, my town/ georaphical (Knoxville, TN) area of 2 million+ consumers has been left with only a single Joann’s store. Joann’s has always been the worst of our fabric stores over the last 30+years. It currently has virtually no apparel fabric available, unless I want to make myself the same polyester garbage that I can buy at Ross’.

    I called the regional sales director for Hancock’s last summer and asked if thay had plans for a new store in our area and was told, no. With the CEO gone, I may need to make that call again. Joann’s prices on the low quality apparel fabric they carry is outrageously expensive. I lived in the Seattle area for 6 months in the early 90’s, and was amazed at the fabric selection. I have to drive 90 miles to Asheville, NC to find that kind of selection now. Let me tell you how irritating that is when all I need at the moment is a bit of silk to finish off the seams of an unlined jacket. Fabric just isn’t something to be bought on line!!

    1. Your lack of options sounds so frustrating! I agree, fabric is difficult to buy online. One option might be to attend local American Sewing Guild meetings. Surely some people there have a thirst for lovely fabrics and have had good experiences buying online. Through them you would get to sample some new fabrics. Some people pay a subscription service to get fabric samples quarterly. Try shopping for those textile houses online. Thanks for your comments.

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