House of Fabrics Reports 14% Gain in 1st Quarter

House of Fabrics said it earned $2 million, or 30 cents a share, in the first quarter that ended April 30, up 14% from $1.8 million, or 27 cents a share, earned a year earlier. Sales rose 2% to $75.0 million.

The Sherman Oaks chain of fabric stores attributed the higher profit to the performance of its large, so-called “superstores.” The company added that sales were not as strong in the quarter as they might have been because the Easter holiday came early this year, shortening the pre-Easter sales period.