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Last $25.34 USD
Change Today +0.35 / 1.40%
Volume 576.7K
MIK On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

michaels cos inc/the (MIK) Snapshot

Open
$25.02
Previous Close
$24.99
Day High
$25.44
Day Low
$25.02
52 Week High
03/20/15 - $30.00
52 Week Low
08/6/14 - $14.64
Market Cap
5.3B
Average Volume 10 Days
883.3K
EPS TTM
$1.40
Shares Outstanding
208.0M
EX-Date
--
P/E TM
18.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for MICHAELS COS INC/THE (MIK)

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michaels cos inc/the (MIK) Details

The Michaels Companies, Inc. owns and operates a chain of arts and crafts specialty retail stores under the Michaels and Aaron Brothers names in North America. The company’s Michaels stores offer approximately 35,000 stock-keeping units in arts, crafts, framing, floral, home décor and seasonal, scrapbooking, and seasonal merchandise. Its Aaron Brothers stores offer approximately 7,000 stock-keeping units, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services. The company offers 12 private brands, including Recollections, Studio Decor, Bead Landing, Creatology, Ashland, Celebrate It, ArtMinds, Artist's Loft, Craft Smart, Loops & Threads, Imagin8, and Make Market. As of May 2, 2015, it owned and operated 1,177 Michaels stores in 49 states and Canada; and 118 Aaron Brothers stores. In addition, the company, through its subsidiary, Artistree, manufactures precut mats and custom framing merchandise. The Michaels Companies, Inc. was founded in 2013 and is headquartered in Irving, Texas.

12,000 Employees
Last Reported Date: 03/19/15
Founded in 2013

michaels cos inc/the (MIK) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $1.1M
Chief Financial Officer and Chief Administrat...
Total Annual Compensation: $728.3K
Executive Vice President of Merchandising
Total Annual Compensation: $521.4K
Senior Vice President of Growth Initiatives
Total Annual Compensation: $420.0K
Executive Vice President of Supply Chain
Total Annual Compensation: $389.7K
Compensation as of Fiscal Year 2014.

michaels cos inc/the (MIK) Key Developments

The Michaels Companies, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of Fiscal 2015; Plans to Open 7 New Michaels Stores and Relocate 3 Additional Stores

The Michaels Companies, Inc. reported unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company reported net sales of $1,077,600,000 against $1,052,048,000 a year ago. Operating income was $143,982,000 against $139,200,000 a year ago. Income before income taxes was $105,971,000 against $82,158,000 a year ago. Net income was $66,738,000 against $45,414,000 a year ago. Basic and diluted earnings per share were $0.32 against $0.25 per diluted share a year ago. Net cash used in operating activities was $76,220,000 against $74,358,000 a year ago. Additions to property and equipment were $34,964,000 against $30,802,000 a year ago. EBITDA was $171,609,000 against $165,808,000 a year ago. Adjusted EBITDA was $178,409,000 against $179,452,000 a year ago. Adjusted operating income was $143,982,000 against $142,528,000 a year ago. Adjusted net income was $66,738,000 or $0.32 per share diluted against $53,494,000 or $0.26 per share diluted a year ago. Total debt at the end of the quarter was $3.14 billion. The company continues to expect fiscal 2015 total net sales growth of 3.2% to 3.7% or 4.4% to 4.9% on a constant currency basis and a comparable store sales increase of 1.5% to 2.0% or 2.7% to 3.2% on a constant currency basis. Operating income is expected to be in the range of $700 million to $720 million and fully diluted earnings per share is expected to be $1.65 to $1.71. The guidance range also includes the impact of paying off the remaining balance of $180.9 million PIK Notes called on May 6, 2015.  Annual adjusted interest expense is forecasted to be $141 million. The effective tax rate is now expected to be approximately 37% for the full fiscal year 2015.  For the second quarter of fiscal 2015, the company expects comparable store sales to be up 1% to 2% or 2.3% to 3.3% on a constant currency basis, and operating income of $88 million to $92 million.  For the second quarter of 2015 the company is planning to open 7 new Michaels stores and relocate 3 additional stores. No closures are expected at this time. The company expect operating income for the quarter to be between $88 million and $92 million. Included in the EPS estimates are a $4 million operating profit headwind or approximately a $0.01 impact from exchange rates, and an additional $0.01 of EPS impact related to the PIK notes payment as well as about a $0.005 residual impact from the West Coast port disruption. For the year 2015 the company anticipated comparable store sales continues to be in the range of 1.5% to 2% or 2.7% to 3.2% on a constant currency basis and a total sales range to be between 3.2% and 3.7% or approximately 4.4% to 4.9% on a constant currency basis. The company anticipates operating income for the year to be $700 million to $720 million, up 11.6% to 14.8% from a GAAP operating income of $627 million in 2014. The company expects the effective tax rate to be approximately 37% for the full year. This translates to a fully diluted EPS range of $1.65 to $1.71 for fiscal 2015. The company continue to expect cash, capital expenditures for 2015 of approximately $120 million to $130 million. This guidance is based on opening approximately 30 net new and/or relocated stores during fiscal year 2015.

The Michaels Companies, Inc. to Report Q1, 2016 Results on Jun 04, 2015

The Michaels Companies, Inc. announced that they will report Q1, 2016 results at 9:00 AM, Eastern Standard Time on Jun 04, 2015

The Michaels Companies, Inc., Q1 2016 Earnings Call, Jun 04, 2015

The Michaels Companies, Inc., Q1 2016 Earnings Call, Jun 04, 2015

 

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Industry Analysis

MIK

Industry Average

Valuation MIK Industry Range
Price/Earnings 22.9x
Price/Sales 1.1x
Price/Book NM Not Meaningful
Price/Cash Flow 22.1x
TEV/Sales 0.4x
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