Crafts chain A.C. Moore to close stores - we map locations about to shut down
Crafts chain A.C. Moore ($ACMOORE) is set to close 141 stores, according to reports Monday, as the digitization of the arts & crafts business through e-commerce continues to claim retail victims. We track below, a map of all A.C. Moore locations in the Northeast.
The first map tracks more than 140 A.C. Moore stores, all of which will be no more, to one degree or another.
The holidays are right around the corner, and we can't have Grandma unable to access critical knitting gear. So, for our second map, we can track A.C. Moore stores within 5 miles of Michaels ($NASDAQ:MIK) - the publicly-listed crafts retailer. And, fortunately for her, the overwhelming majority (120) of A.C. Moore stores have a Michael's within 10 miles.
As for the stores, Michaels isn't close enough to - that's no trouble either. The company entered into an agreement Monday to take over 40 of A.C. Moore's locations - putting craft aficionados back in business in early 2020. Shares of Michaels are down about 45% this year.
For now, they'll have to stick to their knitting.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.