ACE Cash Express Hosts Record Attendance at Annual Franchise Conference
May 11 2004 - 9:47AM
PR Newswire (US)
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/
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