Tag Archives: Michaels

Michaels Q4 Sales Up


IRVING, Texas-Preliminary results from home craft retailer Michaels show that fourth-quarter net sales are expected to range between $1.599 billion and $1.605 billion, with same store sales projected for an increase of from 0.8 to 1.2 percent. Net sales for the 11-week period from Nov. 2, 2014, to Jan. 17, 2015, gained 3.5 percent. Same-storeMore »

Last updated: January 20, 2015

Michaels Q3 Net Jumps 36.2 Percent


IRVING, Texas-Reduced expenses and a slight uptick in sales helped Michaels to a 36.2 percent increase in third-quarter net income, to $64 million. Selling, general and administrative expenses were trimmed by 1.6 percent in dollars and 74 basis points as a percentage of sales to 26.9 percent. In addition, Michaels managed to slash 33.9 percentMore »

Last updated: November 21, 2014

Michaels Goes Public


IRVING, Texas-The Michaels Cos. Inc. has launched its initial public offering of nearly 27.8 million shares of common stock, priced at $17 per share. The shares are listed beginning today on the NASDAQ Global Select Market, and are being traded under the symbol MIK. Until today, the retailer’s stock had not been publicly traded, althoughMore »

Last updated: June 27, 2014

Broader Named to Head Walmart EMEA Region

Shelley Broader

BENTONVILLE, Ark.-Walmart has promoted Shelley Broader, president and CEO of Walmart Canada, to executive vice president, president and CEO of Walmart EMEA. The move puts Broader in charge of retail operations in Europe, the Middle East and Sub-Saharan Africa. She retains her current responsibility over Walmart Canada, and reports to David Cheesewright, president and CEOMore »

Last updated: June 2, 2014

Michael’s Q1 Net Jumps 21.7 Percent


IRVING, Texas-A gain in sales and controlled expenses helped Michaels Stores to a 21.7 percent increase in first-quarter net income, which totaled $56 million. In the quarter, which ended on May 3, net sales were up 5.9 percent to $1.1 billion, including a pickup of 3.8 percent in same-store sales. Selling, general and administrative expensesMore »

Last updated: May 21, 2014

Michaels Net Jumps 65.7 Percent in Q3


IRVING, Texas-Increased sales, improved gross margin and a significant reduction in interest expense bolstered Michaels’ bottom line in its fiscal third quarter ending on Nov. 2. Net income for the arts and craft specialty retailer totaled $58 million, up 65.7 percent as net sales gained 10.3 percent to finish the quarter at $1.1 billion. TheMore »

Last updated: December 10, 2013

Michaels Q2 Sales Off 0.1 Percent


IRVING, Texas–Second-quarter sales thus far for Michaels decreased 0.1 percent to $631 million, with a same-store sales drop of 2.7 percent, according to a preliminary report from the specialty retailer. The company delivered results for the nine-week period ending on July 6. The second quarter will end on July 28, and Michaels will issue aMore »

Last updated: July 24, 2013