Ace Cash Express (NASDAQ:AACE)
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ACE Cash Express Hosts Record Attendance at Annual Franchise
Conference
DALLAS, May 11 /PRNewswire-FirstCall/ -- ACE Cash Express, Inc. , announced it
recently hosted its annual franchise conference in San Antonio, TX on May 5 and
May 6, 2004. A record 102 existing and potential franchisees and staff
participated in training workshops and strategy seminars with ACE's top
management and vendors. The 2005 conference is scheduled for August 29-31 in
Las Vegas, NV.
During the conference, Ray Moore, Jr. of FRM Franchise, was selected as ACE
Franchisor of the Year. Gray Deans, Moore's Chief Financial Officer, accepted
the award on his behalf. Moore owns four ACE franchise locations in
Greenville, Plymouth, Washington, and Kinston, North Carolina.
As of March 31, 2004, the Company's total 1,203-store network included 215
franchised locations, which are owned by 95 franchisees. The Company
previously announced plans to expand to 400 franchised stores over the next
five years. Today, the Company has signed commitments from new and existing
franchise owners to open 96 new stores over the next five years.
"This was a very successful conference and I am pleased with the record
attendance," said Marty B. Mazer, divisional vice president of franchise. "Our
annual conference gives us the opportunity to provide business-specific
information to help existing owners better operate their current franchises, as
well as to show potential franchisees the power and success of the ACE business
model."
"Expanding the role of franchising is a core strategy that increases our brand
awareness and enhances customer service," stated Jay B. Shipowitz, president
and chief operating officer of ACE. "Combined with our company- owned store
growth plans, we see an opportunity to reach more customers and provide the
underbanked consumer with the retail financial services they desire."
Forward-looking Statements
This release contains certain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements are
generally identified by the use of words such as "expect," "anticipate,"
"estimate," "believe," "intend," "plan," "target," "goal," "should," "would,"
and terms with similar meanings.
Although the Company believes that the current views and expectations reflected
in these forward-looking statements are reasonable, these views and
expectations, and the related statements, are inherently subject to risks,
uncertainties, and other factors, many of which are not under the Company's
control and may not even be predictable. Any inaccuracy in the assumptions, as
well as those risks, uncertainties and other factors, could cause the actual
results to differ materially from these in the forward-looking statements.
These risks, uncertainties, and factors include, but are not limited to,
matters described in the Company's reports filed with the Securities and
Exchange Commission, such as:
* the Company's relationships with Republic Bank, with Travelers Express
and its affiliates, with its bank lenders, with American Capital
Strategies, Ltd. and with H&R Block;
* the Company's relationship with third-party providers of services
offered by the Company or property used in its operations;
* federal and state governmental regulation of check cashing, short-term
consumer lending and related financial services businesses;
* any litigation regarding the Company's short-term consumer lending
activities;
* theft and employee errors;
* the availability of adequate financing, suitable locations,
acquisition opportunities and experienced management employees to
implement the Company's growth strategy;
* increases in interest rates, which would increase the Company's
borrowing costs;
* the fragmentation of the check cashing industry and competition from
various other sources, such as banks, savings and loans, short-term
consumer lenders, and other similar financial services entities, as
well as retail businesses that offer services offered by the Company;
* the terms and performance of third-party services offered at the
Company's stores; and
* customer demand and response to services offered at the Company's
stores.
The Company expressly disclaims any obligation to update or revise any of these
forward-looking statements, whether because of future events, new information,
a change in the Company's views or expectations, or otherwise. The Company
makes no prediction or statement about the performance of its Common Stock.
About the Company
ACE Cash Express, Inc. is a leading retailer of financial services, including
check cashing, short-term consumer loan and bill payment services, and the
largest owner, operator and franchisor of check cashing stores in the United
States. As of March 31, 2004, the Company had a network of 1,203 stores in 36
states and the District of Columbia, consisting of 988 company-owned stores and
215 franchised stores. The Company focuses on serving unbanked and underbanked
consumers, many of whom seek alternatives to traditional banking relationships
in order to gain convenient and immediate access to check cashing services and
short-term consumer loans. The Company's website is found at
http://www.acecashexpress.com/ .
DATASOURCE: ACE Cash Express, Inc.
CONTACT: Eric Norrington, VP Communications, +1-972-550-5032, or
, or Darla Ashby, Director, Public Affairs,
+1-972-550-5037, or , both of ACE Cash Express,
Inc.
Web site: http://www.acecashexpress.com/