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Michaels reports disappointing third-quarter results Earnings reports News 

Michaels reports disappointing third-quarter results

The Michaels Companies Inc. reported net sales were $1,222.0 million in the third quarter of fiscal 2019 compared to $1,274.1 million in the third quarter of fiscal 2018. The decrease in net sales was primarily due to a 2.2% decrease in comparable store sales, the closure of Pat Catan’s stores during the fourth quarter of 2018, and a decrease in... Read More
Michaels expands custom frame solutions for customizing photos Press releases 

Michaels expands custom frame solutions for customizing photos

New Capabilities Include Easy Ordering Process Between In-Store and Online Channels, Expanded Specialty Printing Services and More than 150 New Frames Fit for Every Home Décor Aesthetic May 02, 2019 08:00 AM Eastern Daylight Time IRVING, Texas–(BUSINESS WIRE)–The Michaels Companies, Inc., the largest arts and crafts retail chain in North America, today unveils new custom framing capabilities designed to deliver... Read More
Crafts retailer Michaels to fold Aaron Brothers into main stores News 

Crafts retailer Michaels to fold Aaron Brothers into main stores

Michaels Companies will shutter 94 Aaron Brothers framing and art supplies stores, planning to make Aaron Brothers a “store-within-a-store” within its 1,300 craft stores in the United States and Canada. According to its quarterly earnings report, the company will rebrand its “Framerspointe.com” custom-framing website to AaronBrothers.com. In fiscal 2017, Aaron Brothers net sales totaled approximately $110 million and had no material impact... Read More
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