A.C. Moore reports 3Q loss

BERLIN, N.J. A.C. Moore Arts & Crafts announced that sales for the third quarter of fiscal 2009 were $106.1 million, compared with sales of $116.7 million during the third quarter of fiscal 2008. According to the company, sales were impacted by operating two fewer stores than during the same period in 2008 and by a decrease in comparable store sales of 7.7%.

Net loss for the quarter was $12.9 million, or 53 cents per share, compared with a net loss of $7.5 million, or 37 cents per share, for the comparable period last year.

Rick Lepley, CEO, said, “We were highly promotional in the quarter which adversely affected our margins. However, we are encouraged with the customer count increase from the second quarter, suggesting that shoppers were pleased with our advertising message and promotions.”