FINANCE

A.C. Moore to be acquired for $40.8 million

BY Katherine Boccaccio

Berlin, N.J. — The 134-store arts and crafts chain A.C. Moore said Tuesday it has agreed to be acquired by an affiliate of arts and crafts distributor Sbar’s Inc. for about $40.8 million.

Last January, the company said it had formed a committee to review strategic alternatives, including a potential sale.

"After conducting a thorough review of alternatives, the special committee and the board of directors unanimously concluded that this transaction with Sbar’s is in the best interest of our key stakeholders," chairman Michael J. Joyce said.

The company has reported a long string of quarterly losses for years, with its last positive showing at the end of 2007.

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OPERATIONS

Kohl’s to increase holiday hiring by 5%

BY Staff Writer

Menomonee Falls, Wis. — Kohl’s Corp. said Tuesday it will hire 40,000 seasonal workers for the 2011 holiday shopping period, about 5% more than in 2010.

The plan equates to about 35 additional associates per store at its 1,127 stores, each working about 20 hours per week.

In addition, Kohl’s said it plans to hire 2,500 seasonal workers at DCs and 500 seasonal and full-time credit operations workers.

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News

Kohl’s to increase holiday hiring by 5%

BY CSA STAFF

Menomonee Falls, Wis. — Kohl’s Corp. said Tuesday it will hire 40,000 seasonal workers for the 2011 holiday shopping period, about 5% more than in 2010.

The plan equates to about 35 additional associates per store at its 1,127 stores, each working about 20 hours per week.

In addition, Kohl’s said it plans to hire 2,500 seasonal workers at DCs and 500 seasonal and full-time credit operations workers.

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