Joann was owned (and killed) by private equity. Going on a rampage against in-store inventory is a classic PE retail move. In-store inventory is expensive, su

Joann was owned (and killed) by private equity. Going on a rampage against in-store inventory is a classic PE retail move. In-store inventory is expensive, subject to shrinkage, etc. So by the spreadsheet, less inventory looks good. But of course, if it's not in-stock when your customer shows up, that's a wasted trip. Only has to happen a few times before your customers quit showing up altogether.