A.C. Moore Arts & Crafts, Inc. (Nasdaq:ACMR) announced today that Joseph
A. Jeffries will join the Company as its Executive Vice President of
Operations effective today.
Rick A. Lepley, Chief Executive Officer, said, "We
are extremely pleased to have Joe join our senior management team. Joe
brings excellent skills in improving operational processes and
efficiencies. We believe he will positively impact A.C. Moore’s
practices for moving consumer products from our vendors to our stores
and into the hands of our customers.”
Jeffries said, "I am looking forward to
helping A.C. Moore through the next phases of its corporate transition
to employ state of the art systems, processes and procedures for flowing
freight, improving in store merchandising and running stores more
profitably. I am very impressed with the team that has been assembled
and look forward to the opportunity to contribute.”
Since 1999, Jeffries, 42, has served in various senior management roles
for Office Depot, Inc., a global supplier of office products and
services, including most recently as Vice President, Store Operations,
Space Planning and Visual Merchandising, a position he held since 2004.
Prior to that, he served as Office Depot’s
Vice President of Store and Copy Center Operations. From 1985 to 1999,
he held management positions with Home Quarters Warehouse, Inc.
Reporting to Jeffries will be Craig R. Davis, Senior Vice President of
Merchandising and Marketing, Daniel C. Maguire, Vice President of Store
Operations, and Michael J. Metheny, Vice President of Supply Chain.
About A.C. Moore:
A.C. Moore operates arts and crafts stores that offer a vast assortment
of traditional and contemporary arts and crafts merchandise for a wide
range of customers. The Company operates 134 stores in the Eastern
United States from Maine to Florida. 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 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, the Company’s ability to implement its
business and operating initiatives to improve profitability, customer
demand and trends in the arts and crafts industry, inventory risks, the
effect of economic conditions and gasoline 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, 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 costs
associated with a change in management, difficulties in determining the
outcome and impact of litigation, 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, the results of the Company’s
review of its inventory accounting practices, the Company’s
ability to regain compliance with
Nasdaq listing standards, the Company’s
ability to meet its expected filing date for the Form 10-Q for the third
quarter of 2007 and any prior financial statements requiring restatement
and other risks detailed in the Company’s
Securities and Exchange Commission filings.
