Region spawns two new retail chains via IPOs

A.C. Moore Arts & Crafts Inc. and US Vision Inc. were both established through initial public offerings. A.C. Moore held its IPO in October 1997 and the firm has already caught the attention of several buyers of arts and crafts. A.C. Moore, which has 25 branches in the mid-Atlantic and Northeast, posted a 26.3% in its yearly net sales to $138.1 million for fiscal year 1997. Meanwhile, US Vision opened 39 stores in 1997 after going public. US Vision, which offers eyewear products and services, reported a 10% growth in its 1997 sales to amount to $122.8 million, along with a $3.2 million boost in its net income to amount to $5.3 million.