Tag Archives: Aaron Brothers

Michael’s Q1 Net Jumps 21.7 Percent

Michaels

IRVING, Texas-A gain in sales and controlled expenses helped Michaels Stores to a 21.7 percent increase in first-quarter net income, which totaled $56 million. In the quarter, which ended on May 3, net sales were up 5.9 percent to $1.1 billion, including a pickup of 3.8 percent in same-store sales. Selling, general and administrative expensesMore »

Michaels Q4, FY Net Rockets

Michaels

IRVING, Texas-A modest gain in sales and reduced expenses boosted Michaels Stores to increases of 36.2 percent and 32 percent in fourth-quarter and fiscal-year net income, respectively. Net income totaled $143 million for the quarter and $264 million for the year ending on Feb. 1. Net sales recorded an increase of 2 percent in theMore »

Michaels Net Jumps 65.7 Percent in Q3

Michaels

IRVING, Texas-Increased sales, improved gross margin and a significant reduction in interest expense bolstered Michaels’ bottom line in its fiscal third quarter ending on Nov. 2. Net income for the arts and craft specialty retailer totaled $58 million, up 65.7 percent as net sales gained 10.3 percent to finish the quarter at $1.1 billion. TheMore »