A.C. Moore's Second Quarter Comp Store Sales Increase 4%; Company Expects to Beat Consensus Earnings Estimates.Business Editors BLACKWOOD, N.J.--(BUSINESS WIRE)--July 3, 2003 A.C. Moore Arts & Crafts, Inc. (Nasdaq:ACMR ACMR Air Combat Maneuvering Range ACMR Airspace Control Measure Request ACMR Annual Cost Monitoring Report ACMR Advanced Computer for Medical Research ACMR Aircraft Configuration Management Review (USAF) ACMR Asymmetrical Compact Microstrip Resonator ) reported today sales of $93.7 million for the second quarter ended June 30, 2003, an increase of 13% over sales of $82.9 million during the second quarter of 2002. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of increased by 4% on top of a same store sales increase of 10% in the second quarter of 2002. For the six months ended June 30, 2003, sales were $185.7 million, an increase of 10% over sales of $168.7 million in the first six months of 2002. Comparable store sales grew by 1% for the period, on top of a same store sales increase of 12% in the first half of 2002. Jack Parker This article is about the American ice hockey player and coach. For the English cricketer, see Jack Parker (cricketer). Jack Parker (born March 11, 1945 in Somerville, Massachusetts) is the current head coach of the Boston University Terriers men's ice hockey team. , Chief Executive Officer, stated, "Many of the merchandising initiatives that we have undertaken in the first half of this year are helping to drive sales. With the strong sales performance, we anticipate that our profits for the quarter will beat the consensus estimate of $0.04 per share. We are maintaining our forecast for the year at $0.84 to $0.88 per share." Second quarter earnings will be released on July 16, 2003 and the Company will host a conference call at 5:00 P.M. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT . Investors will have the opportunity to listen to the conference call live over the Internet through the Company's investor relations Investor relations The process by which the corporation communicates with its investors. portion of its website at www.acmoore.com. The Company also announced that on Wednesday, July 9th, they will be presenting at the CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Third Annual Consumer Growth Conference in Boston. A webcast of their presentation, including slides, will be broadcast from the Investor Relations page of the Company's website www.acmoore.com beginning at approximately 8:15 a.m. EDT. To listen to the live presentation, please go to the website at least fifteen minutes early to register and download any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available approximately two hours after the presentation and will be archived for thirty days. A.C. Moore operates arts and crafts arts and crafts, term for that general field of applied design in which hand fabrication is dominant. The term was coined in England in the late 19th cent. as a label for the then-current movement directed toward the revivifying of the decorative arts. stores that offer a vast assortment of traditional and contemporary arts and crafts merchandise for a wide range of customers. The Company operates 74 stores in the eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . This press release contains statements that are forward-looking within the meaning of applicable federal securities laws and are based on A.C. Moore's current expectations and assumptions as of this date. The Company undertakes no obligation to update or revise any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. whether the result of new developments or otherwise. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that could cause actual results to differ from those anticipated include, but are not limited to, customer demand and trends in the arts and crafts industry, related inventory risks due to shifts in customer demand, the effect of economic conditions, the impact of adverse weather conditions, the impact of competitors' locations or pricing, the availability of acceptable real estate locations for new stores, difficulties with respect to new system technologies, supply constraints or difficulties, the effectiveness of advertising strategies, the impact of the threat of terrorist attacks and war, and other risks detailed in the Company's Securities and Exchange Commission filings. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion