A.C. Moore

[dmx10101]

A.C. Moore to close stores, reduce openings in '08

BERLIN , N.J. (Jun. 10) A.C. Moore Arts & Crafts reported that after a review of its real estate portfolio between March 24 and May 12, it expects to close between seven and 10 store locations in 2008. The company closed one store at the end of 2006 and two stores during 2007.

The company also announced that it has reduced its expected store openings for 2008 from 14 to between eight and 12 stores.

[NJxxJon]

Originally posted by dmx10101
A.C. Moore to close stores, reduce openings in '08

BERLIN , N.J. (Jun. 10) A.C. Moore Arts & Crafts reported that after a review of its real estate portfolio between March 24 and May 12, it expects to close between seven and 10 store locations in 2008. The company closed one store at the end of 2006 and two stores during 2007.

The company also announced that it has reduced its expected store openings for 2008 from 14 to between eight and 12 stores.

Alert me if any in the south nj or central nj close.... :bum:

[momof3]

Hope the Plainville Ct one doesn't close.

[AmesNewington]

I like AC Moore. Though I haven't been to the Plainville, CT store for years, it is a great place if you are in to arts and crafts. I like any of the arts and crafts stores. I love looking at the fake floral arrangements, and I really love their holiday merchandise.

[CTAmeshopper]

Originally posted by momof3
Hope the Plainville Ct one doesn't close.

I hope so too, that would seriously seriously suck if it that one closed.

[Jonah Norason]

Hmm...the only three I can think of a one in a strip plaza with Target Greatland, Pyramid Mall Ithaca, and Tanglewood Mall.

[powersbt]

Just got news today that the one in Riverside Center (Utica, NY) will be closing by September. Yet another blow to the Strip Mall. This was the store that is located in the Former Food Court, and was the reason for the closure of the rest of the original Mall area.

This Center also has a Steve and Barrys, which I believe is in the Former Old Navy (Former Bradlees) location. It will be interesting to see how this store fares with the Parent Company going through Bankruptcy.

[kendra]

Oh man...I hope not. When I happen to need something "crafty," that's where I like to go. They also have great sales on photo frames.

[Zayre88]

The thing is that sales for the nine months ended September 30, 2008 were $369.6 million, versus sales of $382.4 million in the same period in 2007.

The net loss for the nine months ended September 30, 2008 was $13.6 million versus a net loss of $0.9 million,  in the same period in 2007.

So they also had a loss in the same period last year, although smaller.  Not a good thing if the loss widens...  I don't think they will go next, but they may close some stores.

[momof3]

I like A C Moore too, Hopefully its not a sign of things to come.