Arts-and-crafts retailer Joann Inc. /zigman2/quotes/225253587/composite JOAN +3.88% shares rose 5% after announcing fourth-quarter results that swung to a profit. This was the first earnings announcement for the company after going public on March 12. Net income totaled $38.3 million, or $1.05 per share, after a loss of $358.1 million, or $10.26 per share, last year. Sales of $840.8 million were up from $695.6 million last year. Comparable sales grew 21%. FactSet does not yet have consensus numbers for the company. Joann stock closed Wednesday up 2.2% to $10.15. The initial public offering price was $12.