FINANCE

A.C. Moore loss widens in Q4

BY CSA STAFF

Berlin, N.J. — A.C. Moore Arts & Crafts reported Tuesday that net loss for the quarter ended Jan. 1 was $4.8 million, widened from a loss of $500,000 in the year-ago period.

Sales for the fourth quarter decreased 4.4% $143.2 million, from $149.7 million. Same-store sales fell 4.3%.

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REAL ESTATE

Academy Sports makes Atlanta debut

BY CSA STAFF

Katy, Texas — Houston-area sports retailer Academy Sports + Outdoors announced Tuesday that it will enter the Atlanta market with a new store opening on April 1.

The 70,000-sq.-ft. store is located in McDonough, and is the chain’s fourth store in Georgia.

"We’ve been excited about the Atlanta market for some time," said John Hay, Academy Sports + Outdoors VP real estate. "McDonough is the first opportunity for Academy Sports + Outdoors to establish its active family offering in one of the biggest and most vibrant markets in the United States.”

Academy Sports + Outdoors operates 130 stores throughout Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee and Texas.

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News

A.C. Moore reports 4Q loss on 4.3% comps decline

BY CSA STAFF

BERLIN, N.J. — A.C. Moore Arts & Crafts reported that sales for the fourth quarter of fiscal 2010 were $143.2 million, a decrease of 4.4% compared with sales of $149.7 million during the fourth quarter of last year. This decline was primarily attributable to a decrease in comparable-store sales of 4.3% during the quarter. Net loss was $4.8 million, or 20 cents per share, compared to a net loss of $0.5 million, or 2 cents per share, in the fourth quarter of fiscal 2009.

Sales for fiscal 2010 were $448.1 million, a decrease of 4.4%, compared with sales of $468.9 million for fiscal 2009. This decline was primarily due to a decrease in comparable-store sales of 5.4% during the year. The net loss for fiscal 2010 was $30.2 million, or $1.23 per share, versus a net loss of $25.9 million, or $1.15 per share, in fiscal 2009.

Joseph Jeffries, CEO, stated, “The entire organization is focused on executing our strategic and merchandising plans. With our improved inventory composition and merchandising strategy, we believe that A.C. Moore is positioned for better execution and results in fiscal 2011.”

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