Crafts Retailer A.C. Moore to Close Stores, Reduce Openings

June 9, 2008 12:15:21 PM PDT
Retailer A.C. Moore Arts & Crafts Inc. is closing several stores and cutting back on opening new ones. The Berlin, N.J.-based company blames the current retail environment and says that after reviewing its properties, this year it will shutter between seven and 10 underperforming stores. It closed two stores last year.

Also, instead of opening 14 new stores planned for 2008, it now will only open eight to 12.

Meanwhile, the company says it may relocate some existing stores and is negotiating with authorities to expand its Berlin distribution center in lieu of building a second one.

A.C. Moore has 139 stores from Maine to Florida.