Jo-Ann Stores has the fabric store market all sewn up. It's the #1 fabric retailer (ahead of Hancock Fabrics) nationwide, operating more than 850 stores in 49 states. The company sells a variety of fabrics and sewing supplies, craft materials, frames, home decorations, artificial floral items, and seasonal goods. Most of its small-format stores (averaging 15,000 sq. ft.) are located in strip mall shopping centers and operate under the name Jo-Ann Fabrics and Craft. The company also operates large-format Jo-Ann superstores (36,000 sq. ft. on average) and an e-commerce site, Joann.com. The company is owned by acquisitive private equity firm Leonard Green & Partners.