Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Commerce Capital Boosts Michaels Stores to 'Strong Buy'

Commerce Capital upgraded Michaels Stores (MIK) to strong buy from market outperform.

Analyst Richard Zimmerman says results were $0.09 above prior guidance, almost double year over year. He says apparel crafts, books and kid crafts contributed to positive same store sales. He also notes that gross margins rose 40 basis points to 34.2%, and benefited from leverage on occupancy costs, lower utility costs and common area maintenance charges.

Zimmerman says positive industry trends, improving inventory management, and management conservatism gives him confidence in the business. He raised his $1.82 fiscal 2003 (Jan.) earnings per share estimate to $1.88, and upped the $2.18 fiscal 2004 estimate to $2.24. He has a $48 target.

blog comments powered by Disqus