Hancock Fabrics Announces Hiring of Chief Financial Officer Business Wire BALDWYN, Miss. -- March 13, 2013 Hancock Fabrics, Inc. (OTC symbol: HKFI) has announced that James B. Brown (Age 44) will be joining Hancock Fabrics as Executive Vice President and CFO on March 18th, reporting to Steve Morgan, President & CEO. James will oversee the areas of Accounting-Finance, Loss Prevention, IT, Human Resources, and in addition, will have oversight responsibility to the Planning and Allocation function. Prior to joining Hancock, James was employed by Fred’s, Inc., in Memphis, where he served as Senior Vice President, Finance from November 2011 to March 2013, being promoted from his earlier positions of Vice President, Planning and Analysis which he held from June 2008 to November 2011 and Assistant Controller, which he held from February 2006 to May 2008. James started his Accounting career with Feeley & Driscoll, P.C., a public accounting firm in Boston, MA, following his service in the Marine Corps and graduating from the University of Puget Sound with a Bachelor Degree in Accounting and Economics. From there he entered private industry, holding accounting management positions in such diverse organizations as Dragon Systems, Inc.- a speech recognition software company; Transform Pharmaceuticals, Inc. - a biotech start-up; Rotable Asset Management, LLC - a company specializing in aircraft parts and maintenance; and Pinnacle Airlines, Inc. - a regional airline. Hancock Fabrics’ CEO, Steve Morgan stated, “James joins Hancock Fabrics at an exciting time in its history. Hancock Fabrics continues to focus on developing and strengthening its capability across the organization and notably in the areas of Inventory Control, Loss Prevention, Real Estate and Human Resources. We believe we have developed a solid infrastructure as evidenced by 17 consecutive months of positive comparable sales. We are confident that James will be a dynamic force, and that he will take a leadership role in driving continued improved financial performance and future sales growth with the rest of the team.” Forward-looking Statements Statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward looking statements. These risks and uncertainties include, but are not limited to, general economic trends, intense competition and adverse discounting actions taken by competitors, changes in consumer demand or purchase patterns, the Company’s inability to implement its growth strategy and access funds for future growth, delays or interruptions in the flow of merchandise between the Company’s suppliers and/or its distribution center and its stores, rising fuel costs, tightening of purchase terms by suppliers and their factories, the Company’s significant indebtedness, a disruption in the Company’s data processing services and other risks and uncertainties discussed in the Company’s Securities and Exchange Commission (“SEC”) filings, including the risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K for the year ended January 28, 2012 and the Company’s other reports with the SEC. The Company undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events. Contact: Hancock Fabrics, Inc. Larry D. Fair, 662-365-6108 Vice President and CAO
Hancock Fabrics Announces Hiring of Chief Financial Officer
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