Acquisition Opportunities Despite recent store closures and the acquisition of Joann by Michaels, there remains a significant market presence and brand recognition that can be leveraged through targeted marketing and product innovation to regain lost market share and attract new customer segments.

Store Modernization With recent investments in new store assets and closures of underperforming locations, there is a clear opportunity to offer solutions that enhance store operations, improve customer experience, and support the reopening or renovation of remaining stores.

E-commerce Expansion Given the company’s extensive use of digital tools like IBM Cognos and Trello, there is potential to provide advanced digital solutions such as analytics, CRM, or supply chain management tools to optimize operations, reduce costs, and boost online sales channels.

Sustainability Engagement As a craft-focused retailer with a community-centered approach, Joann has the opportunity to develop sustainable product lines or eco-friendly craft initiatives, aligning with consumer trends towards sustainability and opening new revenue streams.

Customer Engagement With a strong community focus and active review platforms like Bazaarvoice, there is potential to enhance customer loyalty programs, personalized marketing, and interactive content to increase repeat business and strengthen brand loyalty in a competitive retail landscape.