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The Michaels Companies announces first quarter sales down 28% Earnings reports 

The Michaels Companies announces first quarter sales down 28%

GaryPageau
The Michaels Companies, Inc. announced first-quarter next sales of $799 million, compared to $1.09 billion last year, a decline of 27.6%. The company had a first-quarter net loss $63.5 million, compared to $37.7 million net income in 2019. The 27% decline in sales was due to temporary store closures as a result of the COVID-19 pandemic. Sales related to 11... Read More
Michaels reports disappointing third-quarter results Earnings reports News 

Michaels reports disappointing third-quarter results

GaryPageau ,
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