[A.C. MOORE LOGO] General Office o Distribution Center
130 A.C. Moore Drive o Berlin, NJ 08009
PHONE: (856) 768-4930 o FAX: (856) 753-4723
FOR: FROM:
A.C. Moore Arts & Crafts, Inc. Gregory FCA Communications, Inc.
For More Information Contact: For More Information Contact:
Amy Rhoades, General Counsel Joe Crivelli
(856) 768-4936 (610) 642-8253
MARC D. KATZ JOINS A.C. MOORE AS CHIEF FINANCIAL OFFICER
BERLIN, NEW JERSEY, SEPTEMBER 6, 2006 - A.C. Moore Arts & Crafts, Inc. (Nasdaq:
ACMR) announced today that Marc D. Katz will join the Company as Chief Financial
Officer effective September 13, 2006. Katz, 41, most recently served as the
Chief Information Officer for Foot Locker, Inc. and prior to that was the
Controller for the $5.5 billion specialty athletic retailer.
"Marc Katz has proven financial expertise through his experience as the
controller of a large multi-store retail company, in addition to a strong
background in retail information systems," said Rick A. Lepley, A.C. Moore's
Chief Executive Officer. "I am delighted that Marc has agreed to join us and
that we have achieved our goal of retaining an individual with the skill set
necessary to serve as our Chief Financial Officer and the experience we need to
guide our systems implementation strategy and transition us to being a more
technologically advanced organization."
As Senior Vice President - Chief Information Officer for Foot Locker, Katz was
responsible for managing application development, information technology,
financial reporting and financial planning. After joining Foot Locker in 1997,
he held positions of increasing responsibility within that company's finance
department, including Vice President - Controller. Prior to his employment with
Foot Locker, Katz served for eight years at The May Department Stores Company in
various financial positions.
"I am excited about the opportunity to serve as Chief Financial Officer for the
Company and look forward to working with the A.C. Moore team to develop the
Company's strategy for financial analysis and information technology," said
Katz.
Katz has a Masters in Business Administration from Saint Louis University and a
Bachelor of Science in Business Administration from the University of Missouri -
St. Louis.
He succeeds Leslie H. Gordon who retired as Chief Financial Officer of A.C.
Moore effective July 31, 2006.
ABOUT A.C. MOORE:
A.C. Moore operates arts and crafts stores that offer a vast assortment of
traditional and contemporary arts and crafts merchandise for a wide range of
customers. The Company
operates 115 stores in the Eastern United States. For more information about the
Company, visit our website at www.acmoore.com.
# # #
This press release contains statements that are forward-looking within the
meaning of applicable federal securities laws and are based on A.C. Moore's
current expectations and assumptions as of this date. The Company undertakes no
obligation to update or revise any forward-looking statement whether the result
of new developments or otherwise. These statements are subject to a number of
risks and uncertainties that could cause actual results to differ materially
from those anticipated. Factors that could cause actual results to differ from
those anticipated include, but are not limited to, the costs associated with a
change in senior management, the impact of the adoption of FAS 123R, customer
demand and trends in the arts and crafts industry, related inventory risks due
to shifts in customer demand, the effect of economic conditions, the impact of
adverse weather conditions, the impact of competitors' locations or pricing, the
availability of acceptable real estate locations for new stores, difficulties
with respect to new system technologies, difficulties in implementing measures
to reduce costs and expenses, supply constraints or difficulties, the
effectiveness of advertising strategies, the impact of the threat of terrorist
attacks and war, and other risks detailed in the Company's Securities and
Exchange Commission filings.