Arts & Crafts retailer Michaels Store's net sales up 13.1% to $821mn
26 May '05
7 min read
for fiscal 2005, the company now expects same-store sales to increase 4% to 6% and total sales to increase 9% to 11%. operating margin is expected to grow approximately 150 basis points driven by both gross margin expansion and selling, general, and administrative expense leverage. diluted earnings per share for 2005 are expected to increase 25% to 30% over fiscal 2004 results.
michaels stores inc is the world's largest retailer of arts, crafts, framing, floral, wall decor, and seasonal merchandise for the hobbyist and do- it-yourself home decorator. as of may 25, 2005, the company owns and operates 860 michaels stores in 48 states and canada, 165 aaron brothers stores, located primarily on the west coast, nine recollections, and four star wholesale operations.
marketing@alchempro.com
