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A.C. Moore Arts Crafts, Inc. (1042809) SEC Filing 10-Q Quarterly report for the period ending Saturday, October 1, 2011

A.C. Moore Arts Crafts, Inc.

CIK: 1042809
Exhibit 99.1
(A.C.MOORE LOGO)
For:
A.C. Moore Arts & Crafts, Inc.
130 A.C. Moore Drive
Berlin, NJ 08009
A.C. Moore Reports Second Quarter Fiscal 2011 Financial Results
Berlin, New Jersey, August 3, 2011 —
A.C. Moore Arts & Crafts, Inc. (NASDAQ: ACMR) (the “Company” or “A.C. Moore”) today announced results for the three and six month periods ended July 2, 2011.
Sales for the second quarter of 2011 were $99.0 million, a decrease of 0.8% compared to sales of $99.9 million during the second quarter of 2010. This decline was primarily due to a decrease in comparable store sales of 0.7%. Net loss for the quarter was $7.9 million, or $0.32 per share, compared to a net loss of $9.7 million, or $0.40 per share in the second quarter of last year.
Sales for the six months ended July 2, 2011 were $201.7 million, a decrease of 1.7% compared to sales of $205.2 million during the comparable period of 2010. This decline is primarily attributable to a 1.7% decrease in comparable store sales. Net loss was $15.3 million, or $0.62 per share, for the six months ended July 2, 2011, compared to a net loss of $17.2 million, or $0.71 per share for the comparable period last year.
Joseph A. Jeffries, Chief Executive Officer, stated, “As we move toward our peak selling season, we are focused on executing our merchandising and operating plan.”
The Company will host a conference call beginning at 8:30 a.m., Eastern Time, on Wednesday August 3, 2011 to discuss second quarter 2011 results. To participate in the conference call, please dial 800-967-7140 and provide the operator with passcode #4871024. If you are unable to access the live call, please dial 888-203-1112 and enter pin #4871024 to access the taped digital replay. The replay will be available at approximately 10:30 a.m. ET on Wednesday, August 3, 2011 and will remain available until Wednesday, August 17, 2011 at 11:59 p.m. ET.
A simultaneous webcast of the conference call may be accessed at www.acmoore.com. Go to “About Us” and click on “Corporate Profile.” To listen to the live call via webcast, please go to the Company’s website at least 15 minutes early to register, download and install any necessary audio software. An archive of the conference call will be available approximately two hours after the conference call ends on the Company’s website.
About A.C. Moore:
A.C. Moore is a specialty retailer of arts, crafts and floral merchandise for a wide range of customers. The Company currently serves customers through its 135 stores located in the Eastern United States and nationally via its e-commerce site, www.acmoore.com. For more information about A.C. Moore, visit www.acmoore.com.

 

 


The following information was filed by A.C. Moore Arts Crafts, Inc. on Wednesday, August 3, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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A.C. Moore Arts Crafts, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2011 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1042809
Form Type: 10-Q Quarterly Report
Accession Number: 0000950123-11-096011
Submitted to the SEC: Mon Nov 07 2011 5:01:41 PM EST
Accepted by the SEC: Mon Nov 07 2011
Period: Saturday, October 1, 2011
Industry: Retail Hobby Toy And Game Shops

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