A.C. Moore Announces Finance Group Promotion and New Hire.* Rodney B. Schriver Promoted to Vice President & Controller * Michael G. Zawoysky Joins as Vice President of Financial Planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against & Analysis BERLIN, N.J. -- 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 ) today announced organizational changes to its Finance group. On March 12, 2007, Rodney B. Schriver, the Company's Controller since July 2004, was promoted to Vice President and Controller. In this capacity, Mr. Schriver will oversee the Company's accounting, tax and financial reporting functions. Prior to joining A.C. Moore, Mr. Schriver served as Vice President and Assistant Controller with Charming Shoppes Charming Shoppes (NASDAQ: CHRS) is a specialty and plus size clothing retail holding company based in Bensalem, PA. Its subsidiaries include Lane Bryant, Fashion Bug, and Catherines. Clothes are sold from over 2000 retail stores in the U.S. , Inc., a national specialty retailer, from 1989 to 2004. Previously, he was a Senior Auditor with Ernst & Young, an independent registered public accounting firm. Mr. Schriver is a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. and also has a Master of Business Administration degree. In addition, on March 26, 2007, Michael G. Zawoysky joined A.C. Moore to fill the position of Vice President of Financial Planning and Analysis. Mr. Zawoysky will be responsible for internal financial planning and analysis and profit improvement programs of A.C. Moore. From 1996 to 2006, Mr. Zawoysky served as Executive Vice President and Chief Financial Officer of Foot Locker Foot Locker, Inc. (NYSE: FL) is a major American sportswear and footwear retailer, with its headquarters in New York City, and operating in approximately 20 countries worldwide. It is the successor corporation to the F.W. Woolworth Company (“Woolworth’s”). Europe, the European operation of Foot Locker, Inc., the national specialty athletic retailer. He served in various other positions with Foot Locker after joining that company in 1996, including as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Chief Financial Officer of FootLocker.com, Retail Controller and Financial Director of Global Sourcing. Prior to Foot Locker, Mr. Zawoysky held various financial positions with Chambers Development Company, Inc., a provider of integrated solid waste services. Both Mr. Schriver and Mr. Zawoysky will report directly to Marc Katz, the Company's Executive Vice President and Chief Financial Officer. Mr. Katz stated, "I am extremely pleased to announce these changes to our Finance group. Rod has demonstrated great technical expertise, knowledge of the Company and strong leadership in his management of our accounting functions as Controller. His promotion is well-deserved." Mr. Katz said further, "Mike Zawoysky has years of experience in driving successful profit improvement initiatives in a retail setting. He is an integral addition to the A.C. Moore team as we continue our focus on expense control to build the foundation for improved profitability." About A.C. Moore: 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 122 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. . For more information about the Company, visit our website at www.acmoore.com. 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, inventory risks, the effect of economic conditions and gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by prices, the impact of unfavorable 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, including the recent POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale conversion, difficulties in implementing measures to reduce costs and expenses, improve margin and increase profitability, supply constraints or difficulties, the effectiveness of and changes to advertising strategies, the costs associated with a change in management, difficulties in determining the outcome and impact of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , the impact of the adoption of FAS 123R, the impact of the threat of terrorist attacks and war, the Company's ability to maintain an effective system of internal control over financial reporting and other risks detailed in the Company's Securities and Exchange Commission filings. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion