N.J. Warehouse Roof Collapses; No Injuries Reported

July 28, 2004

A.C. Moore Arts & Crafts Inc. reported that a section of the roof on its Blackwood, N.J. warehouse and corporate headquarters facility collapsed on Tuesday afternoon. The facility employs more than 150 team members, none of which were injured in the incident.

With the help of the local fire department and police, all team members who were working in the facility at the time were reportedly safely evacuated.

Jack Parker, CEO, stated, “We are grateful that none of our team members were injured in this unfortunate accident. We are still in the process of determining what caused the roof to collapse, and the extent of the damage that was caused. It is also fortuitous that the move to our new Winslow facility is well underway.”

A.C. Moore has been in the process of constructing a new facility in Winslow Township, N.J., less than 9 miles away from the Blackwood facility. The company noted that 66 percent of the merchandise in its stores is delivered directly from vendors without going through its own distribution facility, and that the majority of its own warehouse inventories had already been moved to the new facility. Therefore, the company believes that any disruption in the supply of merchandise to their stores will be temporary. A number of the company’s corporate staff, and all of its information systems had also already been moved.

The company said it believes there will be no material financial impact as they are adequately covered by insurance.

A.C. Moore operates arts and crafts stores that offer an assortment of traditional and contemporary arts and crafts merchandise for a wide range of customers.

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