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Tag Archives | Momenta

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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Momenta Acquires Little Yellow Bicycle

Momenta announced yesterday that the company has acquired Little Yellow Bicycle.

Both companies produce full scrapbook product lines, and both have been reinventing themselves recently.

MomentaThe Little Yellow Bicycle brand was launched in 2009 by office supply company C-Thru Ruler Company, which entered into the scrapbooking market through the adoption of its stencils by scrapbookers in the early days of scrapbooking’s popular explosion. In 2012, C-Thru sold its office supply business to concentrate on its crafts business, and reincorporated itself as Little Yellow Bicycle.

The acquisition of Little Yellow Bicycle culminates a stunning turn-around by Momenta, which filed bankruptcy in 2010 after reinventing itself. The company, formerly called American Traditional Designs, had been known primarily for making brass embossing stencils before that market largely evaporated. The company renamed itself Momenta and has focused the past few years on making a line of scrapbooking products that have found an impressive market presence in a short time in today’s competitive climate. Continue Reading →

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Momenta Files Bankruptcy

Momenta, Inc., formerly known as American Traditional Designs, filed for Chapter 11 bankruptcy reorganization on October 23rd. The company will continue to operate while it goes through bankruptcy reorganization.

The company’s Board of Directors voted at a special meeting on October 22nd to authorize the filing. The New Hampshire-based company states in court filings that it has $2.8 million in assets, and $4.6 million in liabilities. In 2009, Momenta had $5.75 million in sales, down from $7.5 million in 2008. According to court filings, the company’s 20 largest unsecured creditors consist mostly of Asian suppliers and shipping companies. It also owes significant debts to its warehouse services provider. In the past year, Momenta has been party to four lawsuits regarding unpaid bills. The deadline for creditors to file claims with the court is Feb. 22nd, 2011.

Momenta is one of Northwood, New Hampshire’s largest employers, with 19 employees in their offices there. The company was founded in 1979, and originally focused on brass stencil products. In recent years the company focused on the scrapbooking market, changing their name from American Traditional Designs, the name they were known for marketing stencils under, to Momenta, and marketing products under the names ATD and Complements. The changes are credited by the company with leading to a 500% sales increase over a five-year period.

Court filings blame the company’s current financial problems on a combination of factors, including the loss of a large Walmart contract and increasing warehouse costs.

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