A.C. Moore Arts & Crafts, Inc. (Nasdaq:ACMR) today announced the
resignation of Michael G. Zawoysky, effective April 24, 2009. Mr.
Zawoysky, the Company’s Executive Vice President and Chief Financial
Officer, will pursue a career opportunity in the private equity sector.
The Company will be conducting a search for a new Chief Financial
Officer.
Rick A. Lepley, Chief Executive Officer, said, "Mike has made many
contributions to A.C. Moore over the past two years and we are very
appreciative of his service. We wish him success as he has been
presented with a great opportunity.”
"It has been a pleasure to work with everyone at A.C. Moore,” said Mr.
Zawoysky. "This was a difficult decision to make. I believe that A.C.
Moore has taken the right steps to build a solid foundation for future
success and I am confident that the Company’s initiatives will have a
favorable long-term impact on the business.”
About A.C. Moore:
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 132 stores located in the Eastern United States
from Maine to Florida and nationally via its e-commerce site, www.acmoore.com.
For more information about A.C. Moore, 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 current expectations and assumptions of A.C. Moore Arts & Crafts,
Inc. ("A.C. Moore,” the "Company”, "we,” "our” or "us”) 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 failure to
consummate our identified strategic objectives, the effect of economic
conditions and fuel prices, our ability to implement our business and
operating initiatives to improve sales and profitability, our ability to
comply with the terms of our credit facility, our ability to comply with
Nasdaq listing requirements, 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, our ability to
increase the number of stores we operate and the profitability of
existing stores, how well we manage our growth, execution and results of
our real estate strategy, competitive pressures, customer demand and
trends in the arts and crafts industry, inventory risks, 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 strategies, the impact of the threat of terrorist attacks
and war and other risks detailed in the Company’s Securities and
Exchange Commission filings, including but not limited to, A.C. Moore’s
Annual Report on Form 10-K for the fiscal year ended January 3, 2009.
A.C. Moore undertakes no obligation to update or revise any
forward-looking statement whether as the result of new developments or
otherwise.