Michaels Q2 Sales Off 0.1 Percent

MichaelsIRVING, 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 a full summary of the period on Sept. 5.

A statement from Michaels attributed the laggard sales performance to the adverse impact of holiday shifts and the timing of media activity, which was affected by the fact that its previous fiscal year totaled 53 weeks. The company also said it has seen improvement in July sales, which should boost the quarter's total performance.

Net sales for Michaels for the five months ending on July 6 were up 0.9 percent, with same-store sales dropping 1.5 percent.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN May digital issue


    May 2017

    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money