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The company grew mostly by franchising the store concept to others. Sam Walton once inquired about obtaining a Gibson's franchise, but nothing came of it. By 1964, there were 138 Gibson's Discount Center stores generating $190 million in revenue; by 1968, there were 434 stores generating $1 billion in sales. [3]
After further expansion, the store's name was changed to Jo-Ann Fabrics in 1963. The store's name was created by combining the names of the daughters from both families: Joan and Jacqueline Ann. [4] Jo-Ann Fabrics became a publicly held corporation traded on the American Stock Exchange under the name of Fabri-Centers of America, Inc. in 1969 ...
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