A.C. Moore Reports Second Quarter Fiscal 2010
August 10, 2010 07:33 AM Eastern Daylight Time
BERLIN, N.J.--(EON: Enhanced Online News)--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 3, 2010.
Sales for the second quarter of 2010 were $99.9 million, a decrease of 4.3% compared to sales of $104.4 million
during the second quarter of 2009. This decline was primarily due to a decrease in comparable store sales of 5.9%
partially offset by the operation of two additional stores compared to the second quarter of last year. Net loss for the
quarter was $9.7 million, or $0.40 per share, compared to a net loss of $8.1 million, or $0.38 per share in the
second quarter of last year.
Sales for the six months ended July 3, 2010 were $205.2 million, a decrease of 3.7% compared to sales of $213.1
million during the comparable period of 2009. This decline is primarily attributable to a 5.3% decrease in
comparable store sales partially offset by the operation of two additional stores compared to the same period of last
year. Net loss was $17.2 million, or $0.71 per share, for the six months ended July 3, 2010, compared to a net loss
of $12.5 million, or $0.60 for the comparable period last year.
Joseph A. Jeffries, Chief Executive Officer, stated, “We will not be satisfied until we return to sustained profitability.
I am confident that we have both the right team and strategy in place. We will continue to focus on our merchandise
plan, remodel program, and store level execution to drive improved performance.”
The Company will host a conference call beginning at 8:30 a.m., Eastern Time, on Tuesday, August 10, 2010 to
discuss second quarter 2010 results. To participate in the conference call, please dial 877-397-0272 and provide
the operator with passcode #8604679. If you are unable to access the live call, please dial 888-203-1112 and enter
#8604679 to access the taped digital repl