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Last $27.04 USD
Change Today -0.01 / -0.04%
Volume 489.0
MIK On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 9:30 AM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

michaels cos inc/the (MIK) Snapshot

Open
$27.04
Previous Close
$27.05
Day High
$27.04
Day Low
$27.04
52 Week High
03/20/15 - $30.00
52 Week Low
08/1/14 - $14.51
Market Cap
5.6B
Average Volume 10 Days
528.8K
EPS TTM
$1.31
Shares Outstanding
207.2M
EX-Date
--
P/E TM
20.7x
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 January 31, 2015, it owned and operated 1,168 Michaels stores in 49 states and Canada; and 120 Aaron Brothers stores in 9 states. 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. Announces Management Changes

Effective April 8, 2015, the board of directors of The Michaels Companies, Inc. voted to increase the size of the board from eleven directors to twelve directors and appointed Karen Kaplan to the board to fill the resulting vacancy. Ms. Kaplan will serve on the boards audit committee. Since 2013, Ms. Kaplan has served as chairman and chief executive officer of Hill Holliday, Inc. Additionally, on April 8, 2015, Todd M. Cook and Jill A. Greenthal each informed the board of their respective decisions not to stand for re-election as a director at the company's annual meeting of stockholders to be held on June 3, 2015. In each case, the decision not to stand for re-election is not as a result of any disagreement with the company. In addition, Ms. Greenthal resigned as a member of the audit committee effective April 8, 2015. Mr. Cook is a managing director at Bain Capital, LLC and Ms. Greenthal is a senior advisor at The Blackstone Group. As part of its ongoing restructure, the board has also appointed the company’s chief executive officer and director, Carl S. Rubin, as chairman.

The Michaels Companies, Inc. Announces Redemption of 7.50%/8.25% Senior PIK Toggle Notes Due 2018

The Michaels Companies, Inc. announced that an irrevocable notice of redemption was delivered to the holders of the 7.50%/8.25% Senior PIK Toggle Notes due 2018. Pursuant to the notice, on May 6, 2015, $180.9 million in principal of the Holdco Notes will be redeemed. The redemption price will include a 2.0% premium which the company will report in the second quarter of fiscal year 2015 as $3.6 million in debt extinguishment costs. All accrued and unpaid interest on the $180.9 million will be paid in connection with the redemption on May 6, 2015. This final payment will retire the Holdco Notes, and the company will benefit from $10.2 million in interest savings in fiscal year 2015 related to this early redemption of the Holdco Notes.

The Michaels Companies, Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended January 31, 2015; Provides Earnings Guidance for the First Quarter and Fiscal Year 2015

The Michaels Companies, Inc. reported unaudited consolidated financial results for the fourth quarter and year ended January 31, 2015. For the quarter, the company reported net sales of $1,608 million against $1,555 million a year ago. Operating income was $294 million against $276 million a year ago. Income before income taxes was $247 million against $207 million a year ago. Net income was $157 million against $133 million a year ago. Diluted earnings per share were $0.75 against $0.74 a year ago. Net cash provided by operating activities was $405 million against $380 million a year ago. Adjusted EBITDA was $332 million against $333 million a year ago. Adjusted operating income was $294 million against $280 million a year ago. Adjusted net income was $157 million against $142 million a year ago. Adjusted earnings per diluted share were $0.75 against $0.69 a year ago. For the year, the company reported net sales of $4,738 million against $4,570 million a year ago. Operating income was $627 million against $610 million a year ago. Income before income taxes was $351 million against $379 million a year ago. Net income was $217 million against $243 million a year ago. Diluted earnings per share were $1.05 against $1.36 a year ago. Net cash provided by operating activities was $441 million against $449 million a year ago. Additions to property and equipment were $138 million against $112 million a year ago. Adjusted EBITDA was $812 million against $792 million a year ago. Adjusted operating income was $664 million against $624 million a year ago. Adjusted net income was $303 million against $270 million a year ago. Adjusted earnings per diluted share were $1.46 against $1.30 a year ago. The company expects 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 to $720 million and fully diluted earnings per share is expected to be $1.65 to $1.71.  This guidance is based on opening approximately 30 net new and/or relocated stores during fiscal year 2015. The full year EPS outlook includes the impact of lapping Rainbow Loom in first quarter and second quarter, the unfavorable Canadian exchange rates and the West Coast port slowdown.  Annual adjusted interest expense is forecasted to be $141 million. The effective tax rate is expected to be approximately 37.5% for the full fiscal year 2015. cash capital expenditures expected to be of approximately $120 million to $130 million. For the first quarter of fiscal 2015, the company expects comparable store sales to be flat to up 0.9% or 1.2% to 2.1% on a constant currency basis, operating income of $142 to $147 million and fully diluted earnings per share of $0.31 to $0.33.

 

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MIK

Industry Average

Valuation MIK Industry Range
Price/Earnings 25.9x
Price/Sales 1.2x
Price/Book NM Not Meaningful
Price/Cash Flow 25.8x
TEV/Sales 0.4x
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