Sales, profits down at A.C. Moore

BERLIN, N.J.

A.C. Moore reported that sales for the second quarter of fiscal 2009 were $104.4 million, compared to sales of $126.4 million during the second quarter of fiscal 2008. Sales were impacted by operating six fewer stores than during the comparable period in 2008 and by a decrease in comparable-store sales of 13.8%. 

Net loss for the quarter was $8.1 million, or 38 cents per share, compared with a net loss of $4.3 million, or 21 cents per share, in the comparable period last year.

Rick Lepley, CEO, said, “While we are not satisfied with the results for the second quarter, revenue was in line with our expectations. We continue to focus on driving sales and are pleased with the results of our initiatives to manage inventory, enhance our supply chain systems, and improve our cash position.”