UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

 Date of report (Date of earliest event reported): June 12, 2003 (June 11, 2003)


                              HANCOCK FABRICS, INC.
               (Exact Name of Registrant as Specified in Charter)


                         Commission File Number 1 - 9482

              Delaware                                  64-0740905
     (State or other jurisdiction                    (I.R.S. Employer
  of incorporation or organization)                   Identification No.)

 3406 West Main Street, Tupelo, MS                          38801
(Address of principal executive offices)                  (Zip Code)


               Registrant's telephone number, including area code
                                 (662) 842-2834


<PAGE>



Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)           Exhibits:

           Exhibit
            Number      Description
         -------------  -------------------------------------------------------

             99.1       Press release issued by Hancock Fabrics, Inc., dated
                        June 11, 2003

Item 9.  Regulation FD Disclosure.

     The  information  contained in this Item 9 is being  furnished  pursuant to
"Item  12.  Results  of  Operations  and  Financial  Condition"  of Form  8-K in
accordance with SEC Release Nos. 33-8216 and 34-47583.

     The information contained in this Current Report on Form 8-K, including the
exhibit  attached  hereto,  is being  furnished  and  shall  not be deemed to be
"filed" for the  purposes of Section 18 of the  Securities  and  Exchange Act of
1934,  as amended,  or otherwise  subject to the  liabilities  of that  Section.
Furthermore,  the information contained in this Current Report on Form 8-K shall
not be deemed to be incorporated by reference into any registration statement or
other document filed pursuant to the Securities Act of 1933, as amended.

         On June 11, 2003, Hancock Fabrics, Inc. issued a press release
announcing, among other things, revision of prior years' results for unbilled
workers' compensation claims. A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K.

<PAGE>

                                    SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                           HANCOCK FABRICS, INC.
                                               (Registrant)

                                           By:/s/ Bruce D. Smith
                                              ---------------------
                                                  Bruce D. Smith

                                              Senior Vice President and
                                               Chief Financial Officer
                                              (Principal Financial and
                                               Accounting Officer)

June 11, 2003

                                       3
<PAGE>

                                INDEX TO EXHIBITS


  Exhibit
  Number     Description
-----------  ------------------------------------------------------------------

   99.1      Press release issued by Hancock Fabrics, Inc., dated June 11, 2003

                                       4
<PAGE>
                                                                   Exhibit 99.1

Hancock Fabrics, Inc.                                     FOR IMMEDIATE RELEASE
Corporate Headquarters
3406 West Main Street
Tupelo, MS  38801                                         June 11, 2003


Released by: Ellen Kennedy
             (662) 842-2834, Ext. 109


                      HANCOCK FABRICS REVISES PRIOR YEARS'
                              RESULTS FOR UNBILLED
                          WORKERS' COMPENSATION CLAIMS


Hancock  Fabrics,  Inc.  (NYSE symbol:  HKF),  today reported that the insurance
carrier/administrator  for Hancock's  self-insured  workers' compensation policy
failed to bill Hancock fully for various claims related to plan years going back
to 1993.  Consequently,  Hancock is  revising  its  results  for those  years to
reflect the  additional  liability,  which  totals  $938,000  after tax over the
entire  ten-year  period.  The Company  anticipates  that the  adjustment to net
income in any one year will not exceed one cent per share, and will be reflected
in an amended Annual Report on Form 10-K to be filed promptly with the SEC.

Larry G. Kirk, Chief Executive  Officer,  said, "Over the years, our Company has
been very  sensitive to the accuracy and clarity of our  financial  reports.  We
acted on the issue as soon as it was confirmed by recording the liability in the
affected periods.  Although the amount in its entirety and as to any one year is
immaterial, we felt it was the right thing to revise the affected periods."

Hancock Fabrics,  Inc. is a retail and wholesale  merchant of fabric and related
home sewing and decorating  accessories.  The Company operates 430 retail fabric
stores in 42  states,  supplies  various  independent  wholesale  customers  and
operates an internet  store under its two domain  names,  www.hancockfabrics.com
and www.homedecoratingaccents.com.


Released at 4:00 p.m.
Tupelo, MS

                                       5
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

 Date of report (Date of earliest event reported): June 12, 2003 (June 11, 2003)

                              HANCOCK FABRICS, INC.
               (Exact Name of Registrant as Specified in Charter)

                         Commission File Number 1 - 9482

              Delaware                                  64-0740905
     (State or other jurisdiction                    (I.R.S. Employer
  of incorporation or organization)                   Identification No.)

 3406 West Main Street, Tupelo, MS                          38801
(Address of principal executive offices)                  (Zip Code)

               Registrant's telephone number, including area code
                                 (662) 842-2834
Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (c)           Exhibits:

           Exhibit
            Number      Description
         -------------  -------------------------------------------------------

             99.1       Press release issued by Hancock Fabrics, Inc., dated
                        June 11, 2003

Item 9.  Regulation FD Disclosure.

     The  information  contained in this Item 9 is being  furnished  pursuant to
"Item  12.  Results  of  Operations  and  Financial  Condition"  of Form  8-K in
accordance with SEC Release Nos. 33-8216 and 34-47583.

     The information contained in this Current Report on Form 8-K, including the
exhibit  attached  hereto,  is being  furnished  and  shall  not be deemed to be
"filed" for the  purposes of Section 18 of the  Securities  and  Exchange Act of
1934,  as amended,  or otherwise  subject to the  liabilities  of that  Section.
Furthermore,  the information contained in this Current Report on Form 8-K shall
not be deemed to be incorporated by reference into any registration statement or
other document filed pursuant to the Securities Act of 1933, as amended.

         On June 11, 2003, Hancock Fabrics, Inc. issued a press release
announcing, among other things, revision of prior years' results for unbilled
workers' compensation claims. A copy of the press release is attached as Exhibit
99.1 to this Current Report on Form 8-K.
SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                           HANCOCK FABRICS, INC.
                                               (Registrant)

                                           By:/s/ Bruce D. Smith
                                              ---------------------
                                                  Bruce D. Smith

                                              Senior Vice President and
                                               Chief Financial Officer
                                              (Principal Financial and
                                               Accounting Officer)

June 11, 2003

                                       3
INDEX TO EXHIBITS

  Exhibit
  Number     Description
-----------  ------------------------------------------------------------------

   99.1      Press release issued by Hancock Fabrics, Inc., dated June 11, 2003

                                       4
Exhibit 99.1

Hancock Fabrics, Inc.                                     FOR IMMEDIATE RELEASE
Corporate Headquarters
3406 West Main Street
Tupelo, MS  38801                                         June 11, 2003

Released by: Ellen Kennedy
             (662) 842-2834, Ext. 109

                      HANCOCK FABRICS REVISES PRIOR YEARS'
                              RESULTS FOR UNBILLED
                          WORKERS' COMPENSATION CLAIMS

Hancock  Fabrics,  Inc.  (NYSE symbol:  HKF),  today reported that the insurance
carrier/administrator  for Hancock's  self-insured  workers' compensation policy
failed to bill Hancock fully for various claims related to plan years going back
to 1993.  Consequently,  Hancock is  revising  its  results  for those  years to
reflect the  additional  liability,  which  totals  $938,000  after tax over the
entire  ten-year  period.  The Company  anticipates  that the  adjustment to net
income in any one year will not exceed one cent per share, and will be reflected
in an amended Annual Report on Form 10-K to be filed promptly with the SEC.

Larry G. Kirk, Chief Executive  Officer,  said, "Over the years, our Company has
been very  sensitive to the accuracy and clarity of our  financial  reports.  We
acted on the issue as soon as it was confirmed by recording the liability in the
affected periods.  Although the amount in its entirety and as to any one year is
immaterial, we felt it was the right thing to revise the affected periods."

Hancock Fabrics,  Inc. is a retail and wholesale  merchant of fabric and related
home sewing and decorating  accessories.  The Company operates 430 retail fabric
stores in 42  states,  supplies  various  independent  wholesale  customers  and
operates an internet  store under its two domain  names,  www.hancockfabrics.com
and www.homedecoratingaccents.com.

Released at 4:00 p.m.
Tupelo, MS

                                       5