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Tag Archives | AC Moore

Update | Stampin’ Up, Michaels, Hobby Lobby, Jobs & More!

Color. June means a new Stampin’ Up! annual catalog, and with it a new edition of the trend-based “In Colors” that are added each year to the Stampin’ Up color palette for a two year limited edition. Of note this year is that the palette is completely pink and green in shade: Fresh Fig, Berry Burst, Powder Pink, Tranquil Tide, and Lemon Lime Twist.

2017-2019 Stampin Up In Colors

Endings. Craft Ideas magazine is ceasing print after over 40 years in production. The Summer 2017 issue will be the magazine’s final one. Editor Molly Goad told readers in a letter published on the magazine’s blog that the company is looking for strategic partners to continue the magazine, but has no certain relationships at this time. Best wishes for the future to their talented staff . some of whom I’ve previously worked with – from the Scrapbook Update family.

Redesigned. Tonic Studios has issued an update to its customers indicating that it plans to ship a redesigned version of the Tim Holtz stamp platform beginning the week of July 9th.

As we move to catch up with the demand for the product we will be releasing the incoming shipments on a first come first served basis based with our retail partners on when we received the orders. We will be confirming the expected delivery date to each of our retailers within the next 7 days. The first shipments we expect to be dispatched on the week of 09 July with the second delivery to be on the week of 16 July. We are working to improve this wherever possible; however, we want to provide a clear and realistic route to completion. We also want to be realistic that the product will be entering the country during the holiday period which may involve additional small delays. These dates are when we will receive product into our warehouse in California so there may be a few more days to get the product to the partners and then onto the consumers.

Shows. Hotel reservations are open for Creativation 2018, which takes place in Phoenix from January 18th-22nd, and badge registration begins on Tuesday, June 13th.

Crime. According to a report in the Santa Clarita Valley area publication The Signal, the assistant manager of the Hobby Lobby store in Saugus, California has been arrested on child pornography charges. Donald Anthony Little has been charged with two felony counts related to alleged sharing of child pornography images online, and with being in possession of more than 600 child pornography images on his laptop computer. Little is free on bail pending his arraignment on June 22nd.

Neighbors. The White Sands Mall in Alamogordo, New Mexico, is losing its major tenant with the impending closure of the Kmart that has been there since 1976. However, the owner of the property told the Alamogordo Daily News that his company isn’t worried about filling the space, and has over a dozen prospective tenants lined up to tour the space. What’s the draw, in an era of dying malls? The mall will be breaking ground this month on a new Hobby Lobby next to the soon-to-vacant Kmart. “A lot of merchants, it appears, love to be next to Hobby Lobby,” Griffith told the paper.

Earnings. Michaels Companies held its earnings call for the first fiscal quarter of 2017 on Tuesday morning (June 6th) before NASDAQ market open. Net sales were flat for the quarter, with comparable same store sales down 1.2%, due the company said to a decrease in average purchase ticket. Gross profits, though, were up .6%, due to an accounting adjustment from the Lamrite West acquisition and increased margins (from the expansion of the company’s store branded merchandise lines). Michaels held its fiscal year 2017 expectations the same overall at net sales growth of 2.2% to 3.7%, and says that it expects that in the 2nd quarter same store sales will be down .5% to 1.5% (or flat to down 1% on a constant currency basis). The company plans to open four new stores in the quarter, relocate two others, and close four Aaron Brothers stores.

Michaels stock (NASDAQ: MIK) did not react well to the news from the Tuesday earnings call. It had been trending upward on Monday the day before the earnings call, closing up $.28 on the day at $19.83. Opening at $18.91 on Tuesday due to losses in after hours trading, after the morning earnings call the stock dropped hard and closed at $18.16. This was followed by an additional drop to $17.51 by close on Wednesday, a total loss of over 10% in value over Tuesday and Wednesday. Today, the stock started trending back upwards, closing up $.81 at $18.20.

New. American Crafts is launching a new decorative food collection with Sweet Sugarbelle in Michaels Stores. The line will include stamps and cutters and dough die, along with edible coloring book pages and paint palettes, to create decorative cookies.

Peek. If you are fan of artist Katie Pertiet, you might appreciate this profile with a peek into her studio and thoughts on design in a profile done for the blog of art licensing company Wild Apple.

Jobs. The following industry jobs are currently posted as available:

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Update | MISTI, Project Life, Etsy, Jobs, Events & More!

The post-winter show doldrums sure are over! Lots of companies have been busy with the result being lots of news to share!

[Disclosure: Some links in this article are affiliate links that pay this site a commission at no cost to you if a purchase is made after a click.]

Endings. The Project Life partnership with Stampin’ Up! is ending. Project Life branded products will continue to be sold (while supplies last) through Stampin’ Up! demonstrators until the end of the current catalog year on May 31st, 2017.

Patents. My Sweet Petunia, the manufacturer of the popular MISTI stamping tool, was granted their application for a U.S.MISTI patent on March 21st. The original MISTI tool took the stamping world by storm in 2015 and 2016, and the new Mini and Mega sized versions together won the CHA Hot Products Award for Papercrafting products at the 2016 Mega Show.

The MISTI patent had first been applied for by My Sweet Petunia on January 13th, 2015, but was initially denied in the summer of 2016. The company was able to secure approval of the MISTI patent last month after making a revision of their original patent application.

Winners. Etsy was honored as a finalist in the first-ever “World Changing Ideas Awards” sponsored by Fast Company magazine. The online marketplace for crafters was recognized as one of the top 24 finalists out of over 1000 submissions for the idea “Economic Security for the Gig Economy“, a method of ensuring freelance and self-employed people (like their marketplace participants) have stable access to items like healthcare and retirement savings.

Extensions. Tim Holtz has announced a new line of jewelry products that will be exclusive to Jo-Ann Stores called Tim Holtz Assemblage. The line is in Tim’s signature vintage style, and many elements are recognizable as adapted from metal elements designed for his papercrafts line. The line is available now – at 50% off – on Joann.com.

 

Changes. Megan Hoeppner is leaving her role as Editor-in-Chief of Scrapbook & Cards Today magazine for personal reasons. She will, however, continue with the magazine as its Pic Tips columnist. The Editor-in-Chief position is being filled by Susan Opel, who is familiar to many in the industry from her time at the now-defunct Papercrafts & Scrapbooking magazine.

Megan Hoeppner

Megan Hoeppner (on left) and I together at SNAP Conference in 2016.

Changes, part 2. Etsy has named Rachel Glaser as its new Chief Financial Officer. She replaces Kristina Salen whose intended departure as of March 31st was announced last fall. Glaser will start work on or around June 1st, and Karen Mullane (Vice President, Corporate Controller) will serve as interim CFO. With 30 years of executive experience in finance, Glaser comes to Etsy from Leaf Group, a consumer media and marketplace company whose brands include Society 6, Livestrong.com, ehow.com, cuteness, and Techwalla.

Events. AFCI (formerly known as CHA) is partnering with SPC (Sierra Pacific Crafts) to put on a Mixed Media buying event in Salt Lake City this summer. Education will be on July 17th, and the show floor will be open July 18th though July 20th. Exhibit space is selling fast, and attendee registration opens on April 19th.

Events, part 2. It may feel like you’re barely over your jet lag from this year, but exhibit registration is already open for the 2018 Creativeworld show at Messe Frankfurt in Frankfurt, Germany. Book before April 13th for an early booking discount. More than 130 exhibitors were already signed up as of the end of March, according to Messe Frankfurt.

[Note: Messe Frankfurt and its Creativeworld show are a Scrapbook Update sponsor.]

Considering whether to go for the first time? In case you might have missed them, here’s my show reports from Creativeworld 2017:

Documenting. Ali Edwards has announced that the next “Week in the Life” project will run the week of April 17th. New digital and physical product kits are available for the 2017 project on the Ali Edwards webstore.

Teams. Graphic 45 is skipping their usual design team call for 2017, and instead have announced a group they call the 2017-2018 Graphic 45 Brand Ambassadors. The company promises that the design team call will return in 2018, but for this year, the new team includes lots of returning names from last year, with a few new ones mixed in.

Jobs:

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AC Moore Sold To Crafts Distributor Sbar’s Inc.

Struggling craft chain store AC Moore agreed yesterday to be acquired by arts and crafts distributor Sbar’s Inc for $1.60 per share in cash, approximately $40.8 million. The stock closed on Monday at $.95 per share, but rose to $1.50 after news of the buyout hit the market. The stock has been steadily losing value since hitting a 52 week high in March of $3.56.

The transaction is being financed by Wells Fargo N.A and  is expected to close during the fourth quarter of 2011. After the transaction’s close, AC Moore stock will no longer be publicly owned or traded. Continue Reading →

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