Content about Michaels Stores

April 29, 2014

Although bad weather hurt some retailers during the crucial fourth quarter, it didn’t stop Michaels Stores from seeing comparable store sales increase 4.6% for the period ended Feb. 1.

Although bad weather hurt some retailers during the crucial fourth quarter, it didn’t stop Michaels Stores from seeing comparable store sales increase 4.6% for the period ended Feb. 1.

Comparable store sales were driven by a 4.2% increase in the company's average ticket and a 0.5% increase in transactions, partially offset by a 10 basis point impact from deferred custom framing revenue.  

Net sales increased 2% to $1.55 billion from $1.52 billion during the quarter, which had a 53rd week that generated an estimated $66 million in net sales.

April 18, 2014

Michaels assured customers a previously disclosed data security issue had been fully contained and raised the disconcerting prospect that it is only possible to make such a claim after a breach has been detected.

Michaels assured customers a previously disclosed data security issue had been fully contained and raised the disconcerting prospect that it is only possible to make such a claim after a breach has been detected.

The company said in January that it learned of possible fraudulent activity on some U.S. payment cards that had been used at it stores. An extensive investigation ensued that involved two independent security firms who, along with the company, worked closely with law enforcement authorities, banks and payment processors to determine what happened.

January 7, 2014

The nation’s largest arts and crafts retailer plans to go public this year and the launch of a new ecommerce platform that gives Michaels Stores long overdue online sales capabilities is a key element of its growth strategy.

The nation’s largest arts and crafts retailer plans to go public this year and the launch of a new ecommerce platform that gives Michaels Stores long overdue online sales capabilities is a key element of its growth strategy.

December 23, 2013

A 1,500-store market potential and an untapped online opportunity await Michaels Stores in 2014 as the retailer’s private equity owners look to sell a portion of their stake and return the nation’s largest arts and crafts retailer to public ownership.

A 1,500-store market potential and an untapped online opportunity await Michaels Stores in 2014 as the retailer’s private equity owners look to sell a portion of their stake and return the nation’s largest arts and crafts retailer to public ownership.
 

November 6, 2013

Michaels is offering a free, interactive “Just Add Wishes” DIY site to help consumers with holiday needs. From Nov. 11 through Dec. 24, kids can interact with a live elf through streaming video.

Michaels is offering a free, interactive “Just Add Wishes” DIY site to help consumers with holiday needs. From Nov. 11 through Dec. 24, kids can interact with a live elf through streaming video.

After hours, kids can play games and build wish lists that parents can share on Facebook. On Christmas Eve, the site becomes a Santa Tracker, including a Santa locator, behind-the-scenes information from the North Pole control tower and the Santa Cam, where kids get to see Santa at work putting presents under trees and filling stockings.

September 9, 2013

Leading closeout retailer Tuesday Morning has appointed retail industry veteran Jeffrey Boyer as the company’s EVP, chief administrative officer and CFO.

DALLAS — Leading closeout retailer Tuesday Morning has appointed retail industry veteran Jeffrey Boyer as the company’s EVP, chief administrative officer and CFO.

Boyer will fill the existing chief administrative officer vacancy and will replace Stephanie Bowman as CFO. Bowman, who served as the company’s CFO since April 2008, has decided to pursue other professional interests but will remain with Tuesday Morning in a consultative capacity to facilitate a smooth transition.

August 29, 2013

Same-store sales at Michaels Stores decreased 1.3% for the second quarter ended August 3. The dip was due, in part, to a 3.6% decrease in transactions and a 0.4% decrease in deferred custom framing revenue, partially offset by a 2.7% increase in the company's average ticket.

IRVING, Texas — Same-store sales at Michaels Stores decreased 1.3% for the second quarter ended August 3. The dip was due, in part, to a 3.6% decrease in transactions and a 0.4% decrease in deferred custom framing revenue, partially offset by a 2.7% increase in the company's average ticket. 

The company experienced its strongest sales performance during the quarter in home accents and yarn.

August 7, 2013

The relationship between retailers and their suppliers are of paramount importance, and Michaels Stores marks that relationship every year at its annual partner conference, where the company recognizes its top partners at its Vendor and Supply Chain Partner of the Year Awards.

IRVING, Texas — The relationship between retailers and their suppliers are of paramount importance, and Michaels Stores marks that relationship every year at its annual partner conference, where the company recognizes its top partners at its Vendor and Supply Chain Partner of the Year Awards.

Michaels recognized the contributions of 12 vendor and supply chain partners to the retailer during the past year.

July 24, 2013

Holiday shifts adversely affected quarter-to-date performance at Michaels Stores, which reported net sales of $631 million for the nine-week period ending July 6, a decrease of 0.1% from $631.8 million for the comparable period last fiscal year.

IRVING, Texas — Holiday shifts adversely affected quarter-to-date performance at Michaels Stores, which reported net sales of $631 million for the nine-week period ending July 6, a decrease of 0.1% from $631.8 million for the comparable period last fiscal year. 

Same-store sales for the same fiscal period declined 2.7%. The company's quarter-to-date performance was also adversely affected by the timing of media activity due to the impact of the 53rd week in fiscal 2012. However, as a result of the shifts, the company has seen improvement in July sales performance.

June 18, 2013

To celebrate its 40th birthday, Michaels will launch the first-ever Michaels Craft Tour this month in a specially designed 18-wheeler that features a fully stocked, 1,000-sq.-f.t craft room on the inside.

IRVING, Texas — To celebrate its 40th birthday, Michaels will launch the first-ever Michaels Craft Tour this month in a specially designed 18-wheeler that features a fully stocked, 1,000-sq.-ft. craft room on the inside. 

The tour will travel throughout the U.S. from coast-to-coast, visiting store openings, outdoor festivals and other events along the way.

March 13, 2013

Michaels Stores reported that net sales for the fourth quarter increased 8.5% to $1.5 billion from $1.4 billion for the same period last year.

IRVING, Texas — Michaels Stores reported that net sales for the fourth quarter increased 8.5% to $1.5 billion from $1.4 billion for the same period last year. Quarterly same-store sales increased 1.7% driven by a 2.3% increase in average ticket and a 0.6% decrease in transactions. 

The company reported that operating income increased 13.7% to $266 million, and as a percent of net sales increased 80 basis points to 17.5%. Net income increased to $112 million, and as a percent of net sales, increased 40 basis points to 7.3%.

March 4, 2013

Tuesday Morning has named former Michaels Stores president and CEO, Michael Rouleau as its interim CEO.

DALLAS — Tuesday Morning has named former Michaels Stores president and CEO, Michael Rouleau as its interim CEO.

In his role as interim CEO, Rouleau will manage the company's day-to-day operations through the retention of a new CEO. He will continue to serve on the company's board of directors, which he joined in November 2012.

February 14, 2013

Michaels Stores has named Chuck Rubin CEO and a member of the board of directors.

IRVING, Texas — Michaels Stores has named Chuck Rubin CEO and a member of the board of directors.  Rubin, currently the president and CEO of Ulta Beauty, will assume his new roles after a brief period of transition, at which time Michaels will discontinue the office of the CEO, established on an interim basis in May 2012.  Charles Sonsteby, a member of the office of the CEO, will continue as the company's chief administrative officer and CFO.

August 23, 2012

Michaels Stores reported a second quarter same-store sales increase of 2.9% driven by a 3% increase in transactions and a positive impact of 0.9% from deferred custom framing revenue partially offset by a 1% decrease in average ticket.

IRVING, Texas — Michaels Stores reported a second quarter same-store sales increase of 2.9% driven by a 3% increase in transactions and a positive impact of 0.9% from deferred custom framing revenue partially offset by a 1% decrease in average ticket.

Net sales for the quarter increased 4.1% to $892 million from $857 million in the second quarter of fiscal 2011.

Net income for the quarter increased 30% to $13 million, and as a percent of net sales increased 20 basis points to 1.4%.
   

August 14, 2012

Michaels Stores has recognized 12 vendor partners for their contributions to Michaels' success over the past year.

IRVING, Texas — Michaels Stores has recognized 12 vendor partners for their contributions to Michaels' success over the past year.

June 26, 2012

Michaels Stores creative expert Jo Pearson will serve as one of three judges on TLC's new competition series, "Craft Wars."

IRVING, Texas — Michaels Stores creative expert Jo Pearson will serve as one of three judges on TLC's new competition series, "Craft Wars." The show, hosted and executive produced by celebrity crafter Tori Spelling, premieres June 26 at 10 p.m. Eastern (9 p.m. Central time).

April 18, 2012

Michaels Stores has become more energy-efficient, thanks to its rollout of a new series of systems from Siemens.

BUFFALO GROVE, Ill. — Michaels Stores has become more energy-efficient, thanks to its rollout of a new series of systems from Siemens. The additional savings created by the new advanced-capability deployments are expected to bring total energy-related savings to more than 30%.

March 30, 2012

After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

IRVING, Texas — After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

August 15, 2011

Michaels Stores and procurement management firm announced on Friday a five-year agreement under which LogicSource will provide print procurement and related services to Michaels.

IRVING, Texas  — Michaels Stores and procurement management firm announced on Friday a five-year agreement under which LogicSource will provide print procurement and related services to Michaels.

More than $250 million of print and promotional spend will be covered over the life of the contract.

Prior to beginning the relationship, LogicSource conducted a strategic analysis of Michaels’s print production ecosystem, from creative through to distribution, and developed a program designed for cost savings and operational enhancements.

May 6, 2011

Michaels Stores has learned that PIN pad tampering may have occurred in its Chicago-area stores and that customer credit- and debit-card information may have been compromised.

Irving, Texas — Michaels Stores has learned that PIN pad tampering may have occurred in its Chicago-area stores and that customer credit- and debit-card information may have been compromised.

The company was contacted this week by banking and law enforcement authorities after some fraudulent debit-card transactions were reported over the weekend. Authorities believe the fraudulent transactions may be linked to legitimate transactions in Chicago-area Michaels stores.

April 27, 2010

Michaels Stores has selected Demandware's e-commerce platform to re-platform its website and deliver the seamless...