A.C. Moore Arts & Crafts (NASDAQ:ACMR.DL)
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The Company is a retailer offering a selection of arts, crafts, and floral merchandise demographically to a large group of consumers.
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The Company is a retailer offering a selection of arts, crafts, and floral merchandise demographically to a large group of consumers.
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‘Come winter, and A.C. Moor is all set to Bloom’.
A.C. Moore Arts & Crafts, Inc. operates as a specialty retailer of arts, crafts, and floral merchandise in the eastern region of the United States. The company was co-founded by John E. Parker in 1984 and is based in Berlin, New Jersey. Its customers include principally women, aged between 25 and 55. As of December 31, 2005, the company operated 109 retail stores.
The market size according to a Study by Craft and Hobby Association ("CHA") was approximately $30.6 billion as a result of a 3.8% annual growth since 2002, and that majority of the market comprises Moor’s target market.
The company intends to accelerate opening custom framing department with 48 stores planned year-end versus previous plans of 37 (including the current 25 stores). This is estimated to add at least 1% to comparable stores during 2H06. Moor’s average sales per square foot were $241.0 for the FY-05, which is one of the highest in the industry. The company has faced decreased yarn demand in the market in the 2nd and 3rd quarter, yet bounced back with a better mix of merchandise sold increasing margins by 0.3%. Efforts towards rationalizing distribution cost have added another 0.3% to its margins.
Company ended 2Q06 with total number 114 stores, having opened 4 in 1Q06 and 1 in 2Q06. For 3Q06 the company will open 5 new stores and relocate 1, and in 4Q06 plans are for 5 openings; bringing total openings to 13-16 for FY-06.
My reading of the graph it looks like your ranking came when it was priced much lower. I think it's done its over performance now, a little too much...
I sure don't like the P/E of 65...
A.C. Moore Arts & Crafts, Inc. (ACM) is a specialty retailer of arts, crafts and floral merchandise to consumers in the United States. The company's target customers are primarily women between 25 and 55 years of age. As of December 31, 2006, the company operated 122 retail stores. In fiscal 2007, number of stores is expected to reach 137.For fiscal 2006, ACM’s revenues increased 9% to $589.5 millions reflecting an increase in average sales from comparable store. The company witnessed a successful entry in custom farming third quarter 2006, as its volume picked up throughout the fourth quarter. At the end of fiscal 2006, company had 53 framing shops and expects to end year 2007 with 103 shops.The ACM has taken steps to improve its operational efficiency for long term growth of company. Thus, company’s strategy to aggressively clear excess seasonal merchandise has been successful as inventory per store declined 14% and reduced rented trucks to 30 from 130. The company has also planned to leverage its advertising expenses by adding density. In order to maximize gross margin its increasing private label offerings, direct importing and global sourcing. ACM expects to complete an arrangement with a global sourcing supplier.ACM has planned three stage process 2007 will focus on centralized initiatives, 2008 will focus on store-level initiatives and 2009 focus on accelerating new store growth. On a short term point of view company’s first two quarters will be impacted by the ongoing initiatives and costs related to the turnaround. But from a long term perspective these turnaround is expected to have a huge positive impact on company’s results.