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Last $25.93 USD
Change Today -0.04 / -0.15%
Volume 651.5K
MIK On Other Exchanges
Symbol
Exchange
Frankfurt
As of 5:20 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

michaels cos inc/the (MIK) Snapshot

Open
$25.72
Previous Close
$25.97
Day High
$26.18
Day Low
$25.54
52 Week High
03/20/15 - $30.00
52 Week Low
09/22/14 - $16.64
Market Cap
5.4B
Average Volume 10 Days
1.2M
EPS TTM
$1.60
Shares Outstanding
208.0M
EX-Date
--
P/E TM
16.2x
Dividend
--
Dividend Yield
--
Current Stock Chart for MICHAELS COS INC/THE (MIK)

michaels cos inc/the (MIK) Related Businessweek News

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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

Michaels to Open 30 Stores for the Full Year of 2015

Michaels announced that for the full year of 2015, the company expects to open approximately 30 Michaels stores.

the Michaels Companies, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 1, 2015; Provides Earnings Guidance for the Third Quarter and Fiscal Year 2015

The Michaels Companies, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended August 1, 2015. For the quarter, the company reported net sales of $984.270 million compared to $948.150 million a year ago and reflect the impact of a strong U.S. dollar exchange rate. Operating income was $96.582 million compared to $50.892 million a year ago. Income before income taxes was $56.335 million compared to loss before income taxes of $77.562 million a year ago. Net income was $35.711 million or $0.17 per basic and diluted share compared to net loss of $48.643 million or $0.26 per basic and diluted share a year ago. Adjusted EBITDA was $132.481 million compared to $121.397 million a year ago. Adjusted operating income was $96.582 million compared to $85.380 million a year ago and reflects the go forward interest expense based on the company's debt refinancing in 2014. Adjusted net income was $35.711 million or $0.17 per diluted share compared to $29.796 million or $0.14 per basic and diluted share a year ago. Cash capital expenditures for the quarter were $28 million, down from $34 million last year, primarily due to the timing of new store openings. In the second quarter, approximately $15 million was invested in the build-out and maintenance of stores, including new, relocated and existing stores. For the six months, the company reported net sales of $2,061.870 million compared to $2,000.198 million a year ago. Operating income was $240.564 million compared to $190.092 million a year ago. Income before income taxes was $162.306 million compared to $4.596 million a year ago. Net income was $102.449 million or $0.49 per basic and diluted share compared to net loss of $3.229 million or $0.02 per basic and diluted share a year ago. Net cash used in operating activities was $87.145 million compared to $124.736 million a year ago. Additions to property and equipment were $63.241 million compared to $64.770 million a year ago. Adjusted EBITDA was $310.890 million compared to $300.849 million a year ago. Adjusted operating income was $240.564 million compared to $227.908 million a year ago. Adjusted net income was $102.449 million or $0.49 per diluted share compared to $83.290 million or $0.40 per basic and diluted share a year ago. 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 $1.66 to $1.72. The guidance is based on opening approximately 30 net new and/or relocated stores during fiscal year 2015. Annual adjusted interest expense is forecasted to be $141 million which reflects the $10 million interest savings from paying off the PIK Notes. The effective tax rate is now expected to be approximately 36.7% for the full fiscal year 2015. The company continue to expect cash capital expenditures for 2015 of about $120 million to $130 million. For the third quarter of fiscal 2015, the company expects comparable store sales to be up 1.5% to 2.5% or 3.2% to 4.2% on a constant currency basis, operating income of $150 million to $158 million and fully diluted earnings per share of $0.35 to $0.37.

Michaels Partners with Darby Smart

Michaels has partnered with Darby Smart. The partnership will launch in September with the goal of making crafting simpler and more accessible. Darby Smart will gain exposure to the more than 9 million people who visit Michaels.com each month through a link on the Michaels site's project page. Darby Smart users will have access to more craft categories and a wider variety of supplies through the partnership, while Michaels customers will have access to the Darby Smart digital shopping lists, ideas and tutorials.

 

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Industry Analysis

MIK

Industry Average

Valuation MIK Industry Range
Price/Earnings 17.9x
Price/Sales 1.1x
Price/Book NM Not Meaningful
Price/Cash Flow 16.7x
TEV/Sales 0.5x
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