Michaels Stores Inc. reports higher sales
-- Home Accents Today, 8/12/2009 8:56:00 AM
Michaels Stores Inc. reported sales for the quarter ended Aug. 1, 2009 of $807 million, up 1.4% over last year’s number of $796 million for the same quarter. Same-store sales for the quarter declined 0.8% due to a 7.0% decrease in average ticket and a 6.2% increase in transactions.
Net sales for the six-month period ended August 1st increased 1.0% to $1.659 billion from $1.643 billion for the same period in 2008. Same-store sales declined 1.4% over the same period a year ago on a 5.2% decrease in average ticket, a 4.0% increase in transactions, and a negative 0.2% impact from deferred custom framing revenue.
Michaels Stores, Inc. owns and operates 1,023 Michaels stores in 49 states and Canada, and 155 Aaron Brothers stores. The arts, crafts and home décor retailer is ranked number 10 on Home Accents Today’s list of the Top 50 Home Accent Retailers by sales volume which publishes in this month’s issue.
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