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UNITED STATES FORM 8-K
CURRENT REPORT Date of Report (Date of earliest
event reported): February 15, 2011
A.C. Moore Arts & Crafts,
Inc. Registrant’s telephone number,
including area code: (856) 768-4930
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
Item 2.02 Results of Operations
and Financial Condition.
The press release described below under
Item 7.01 includes the following disclosure:
The Company also reported that it ended
fiscal 2010 with more than $35.0 million in cash, as forecasted during its
investor conference call for third quarter fiscal 2010 results.
Item 7.01 Regulation FD
Disclosure.
On February 15, 2011, the Company
issued a press release, a copy of which is furnished as Exhibit 99.1 to
this Current Report on Form 8-K.
Item 9.01 Financial Statements
and Exhibits.
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
A.C. MOORE ARTS
& CRAFTS, INC.
Date: February 15, 2011
By: /s/ Amy
Rhoades
Exhibits
Exhibit 99.1
For: A.C. MOORE EXPLORING STRATEGIC
ALTERNATIVES
Berlin, New Jersey,
February 15, 2011 — A.C. Moore Arts & Crafts, Inc. (NASDAQ:
ACMR) (the “Company” or “A.C. Moore”)
today announced that its Board of Directors is exploring strategic alternatives
to enhance shareholder value including, but not limited to, a potential sale of
the Company, corporate financing or capital raise. Janney Montgomery
Scott LLC has been engaged to serve as the Company’s financial advisor in
this process. The Company has received third party expressions of
interest. However, the Company does not intend to disclose any
developments regarding its exploration of strategic alternatives, unless and
until its Board of Directors has approved a specific transaction. There can be
no assurance that a transaction will result from this process.
The Company also reported that it ended
fiscal 2010 with more than $35.0 million in cash, as forecasted during its
investor conference call for third quarter fiscal 2010 results.
About A.C. Moore: 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. 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, the outcome of the strategic
alternatives process, the availability of future capital, the failure to
consummate our identified strategic objectives, the effect of economic
conditions, our ability to implement our business and operating initiatives to
improve sales and profitability, our ability to maintain liquidity and preserve
cash, our ability to comply with the terms of our credit facility, changes in
the labor market and our ability to hire and retain associates and members of
senior management, the impact of existing or future government regulation,
execution and results of our real estate strategy, competitive pressures,
customer demand and trends in the arts and crafts industry, our failure to
accurately respond to inventory and merchandise requirements, the impact of
unfavorable weather conditions, disruption in our operations or supply chain,
changes in our relationships with suppliers,
difficulties with respect to new system technologies, difficulties in
implementing measures to reduce costs and expenses and improve margins, supply
constraints or difficulties, the effectiveness of and changes to advertising
and marketing strategies and other risks detailed in the Company’s
Securities and Exchange Commission filings. A.C. Moore undertakes no obligation
to update or revise any forward-looking statement whether as the result of new
developments or otherwise.
.................................
For More Information Contact:
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
(Exact name of registrant as
specified in its charter)
Pennsylvania
000-23157
22-3527763
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
130 A.C. Moore Drive, Berlin,
NJ
08009
(Address of Principal Executive Offices)
(Zip Code)
Not
Applicable
(Former name or former address if changed since last report.)
o Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Exhibit
No.
Description
Press release issued by the Company on
February 15, 2011.
Name: Amy Rhoades
Title: Senior Vice President and General Counsel
Exhibit
No.
Description
Press release issued by the Company on
February 15, 2011.
A.C. Moore Arts &
Crafts, Inc.
130 A.C. Moore Drive
Berlin, New Jersey 08009
(856) 768-4930
A.C.
Moore is a specialty retailer of arts, crafts and floral merchandise for a wide
range of customers. The Company currently serves customers through its 134
stores located in the Eastern United States and nationally via its e-commerce
site, www.acmoore.com. For more information about A.C. Moore, visit its website
at www.acmoore.com.
A.C. Moore Arts & Crafts, Inc.
David Stern
Chief Financial
and Administrative Officer
(856) 768-4943