Michaels’ Comeback Hits New Peak With Bonds Near 100 Cents Again

Just about everything has gone right for Michaels Cos. since it was in dire financial straits over the risk of a US tariff shock.

Since April, the Apollo Global Management Inc.-backed arts-and-crafts retailer has logged consistently strong results, most recently that same-store sales will jump by 7.9% to 8.2% in the fourth quarter, according to people familiar with the matter.