A.C. Moore reports smaller Q4 loss
Berlin, N.J. A.C. Moore Arts & Crafts posted a smaller fiscal fourth-quarter loss Wednesday, helped by lower expenses.
The company said sales fell 9% in the fourth quarter and 12% for the full year.
“Obviously, we are not pleased with our performance for last year,” said CEO Rick Lepley. However, he said the company made “significant progress on many of our strategic initiatives during 2009 that we believe will lead to improved operations by the end of 2010.”
A.C. Moore said it lost $537,000 for the period ended Jan. 2, compared with a loss of $13 million a year earlier.
A.C. Moore reduced its selling, general and administrative expenses by 10% to $59 million, from $65.6 million during the quarter. It also cut its store pre-opening and closing costs to $3.5 million from $5.5 million.
Net sales declined 9% to $149.7 million from $165 million, partly on fewer stores. Same-store sales fell 8.8% in the quarter.
Cost of sales, which includes buying and distribution costs, dropped to $93.2 million from $104.7 million.
For the year, A.C. Moore’s loss narrowed to $25.9 million from a loss of $26.6 million in the previous year. Annual sales fell 12% to $468.9 million from $534.7 million.
Licensing industry honors Hasbro leader
NEW YORK Alan Hassenfeld, chairman of the executive committee and former chairman of the board Hasbro and the late Stephen Hassenfeld, CEO and chairman of the board until 1989, have been selected for induction into the International Licensing Industry Merchandisers’ Association Licensing Industry Hall of Fame.
The induction ceremony will take place on June 8 at the second annual LIMA Opening Night Awards Party at Licensing International Expo 2010, which will be held at the Mandalay Bay Convention Center in Las Vegas.
“Stephen and Alan transformed their family’s Rhode Island toy company into a global marketing powerhouse, along the way garnering Wall Street’s respect for toy companies,” said Charles Riotto, president of LIMA. “They also share LIMA’s commitment to integrity in business and to giving back to the communities and consumers who support our business. LIMA is proud to honor them as licensing industry pioneers at Licensing International Expo this June.”
Sears selects TweetMyJOBS to promote employment opportunities
CHARLOTTE, N.C. Sears Holdings has selected TweetMyJOBS, a company that uses social media and other digital platforms to inform members of new job opportunities.
“Last year, Sears Holdings posted more than 500 thousand job openings through several traditional job recruiting channels, but we’re quickly realizing that we needed to broaden our employment marketing to include social media,” said Lance Brolin, director of talent and human capital services operation for Sears Holdings. “We’ve chosen to work with TweetMyJOBS because their service is an innovative approach that can save us time, money and, most importantly, bring us the quality candidates we need.”
Job seekers can search TweetMyJOBS.com by type of work, location or specific company, or choose to receive instant notification via text message when a job fitting their criteria is posted. Online, through computers or smartphones, they can see detailed information about available positions, and view recruiter or employer web pages which further describe the job listings. After identifying a position that is ideal for them, job seekers can apply in a few short clicks. They can also proactively tweet their resume out on the “Twittersphere” for recruiters to find while searching for job candidates.