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A.C. Moore

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A.C. Moore
Company typeSubsidiary
IndustryRetail
Founded1985
DefunctJuly 2020
FateCeased operations; acquired by The Michaels Companies
SuccessorThe Michaels Companies
HeadquartersBerlin, New Jersey, United States
Number of locations
145 (2019; prior to shutdown)
ProductsArts and crafts, scrapbooking, home decoration
ParentSbar's (2011–2019)
Websitewww.acmoore.com
File:A.C. Moore, Shoppers World, Framingham MA.jpg
Location at Shopper's World in Framingham, Massachusetts.

A.C. Moore was a U.S.-based arts and crafts retail chain under the ownership of Nicole Crafts. Headquartered in Berlin, New Jersey, it operated 145 stores throughout the eastern region of the United States.[1] On November 25, 2019, the company revealed plans to cease all retail operations, closing every store and transferring select leases along with other assets to rival retailer The Michaels Companies.

A.C. Moore’s product range encompassed various arts and crafts supplies such as Scrapbooking, Beadwork, knitting, Rubber-stamping, home decor pieces, floral arrangements, children's craft kits, paints, framing services, greenery, and seasonal merchandise. The brand was recognized for its competitive pricing strategy aimed at undercutting rival offers.[2]

Founding and early development

Established in 1985 by Jack Parker and William Kaplan as a single arts and crafts outlet in Moorestown, New Jersey—the name "A. C. Moore" reflecting "arts and crafts" plus "Moorestown"—the company began its journey in retail.[2] Parker served as president bringing extensive merchandising expertise from his tenure at F. W. Woolworth Company, while Kaplan took on the CEO role with a background in fashion production.

The company went public in October 1997.[2]

Downturn, acquisition, and eventual shutdown

After reaching peak revenues of $598 million in 2006, A.C. Moore experienced a downward trend in sales over subsequent years.[3]

Facing financial difficulties in 2011, A.C. Moore was rescued through a merger initiated by one of its suppliers. Sbar's, an art supply distributor located near Moorestown,[4] along with its affiliate Nicole Crafts, acquired A.C. Moore at $1.61 per share, valuing the deal at $41 million. This transaction was structured as a merger resulting in A.C. Moore becoming a subsidiary under Nicole Crafts—the proprietary brand of Sbar's—with Sbar's seven retail outlets being integrated into the A.C. Moore network.[5]

On November 25, 2019, it was announced that all 145 A.C. Moore stores would be closed—some beginning as early as December 15—and that leases for up to 40 locations along with a distribution center and certain intellectual property rights would be sold to competitor Michaels.[6][7][8] As of June 2020, liquidation was still ongoing; by July 2020 all stores had shuttered and Michaels had assumed control over the distribution facility located on A.C. Moore Drive in Winslow Township, New Jersey.[9]

See also

References

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  8. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  9. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
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