Michaels Q4 Sales Up

MichaelsIRVING, 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-store sales for that period were up 1.5 percent.

Michaels said fourth-quarter operating income should finish between $286 million and $291 million, representing a gain of from 3.2 to 5.1 percent over operating income in last year's fourth quarter.

In a statement detailing these results, Michaels did not say when it would release its final fourth-quarter results.

David GillDavid Gill | Senior Editor
dgill@hfnmag.com

David Gill covers home textiles, small electrics housewares, personal-care products, cleaning products, mattresses, consumer electronics and major appliances. He also reports on retailers and writes about the business and financial side of both vendors and retailers. He has more than 30 years of experience in business journalism, and has worked for other publications and websites that cover consumer products from both the manufacturer and retailer sides. His outside interests include sports (he is a big fan of the New York teams and of British soccer), cooking, movies and theater. He occasionally enjoys a good cigar as well.

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