Content about Michaels

July 9, 2014

And the hits just keep on coming. Retailers across the country are falling prey to cyber attacks, with one of the latest announcements coming from Michaels and its subsidiary Aaron Brothers.

By Mark McCurley, IDT911 Consulting

June 27, 2014

Michaels Cos. has raised $472 million in an initial public offering.

Irving, Texas -- Michaels Cos. has raised $472 million in an initial public offering. The arts-and-crafts retailer priced 27.8 million shares at $17 each, which was at the low end of its predicted range. It plans to use the IPO's proceeds to pay down its debt.

The chain, which operates stores under its namesake banner and Aaron Brothers, could raise up to $543 million if underwriters use their option to buy additional shares. 

The stock was expected to start trading Friday on the Nasdaq under the symbol "MIK."

May 21, 2014

Michaels posted increases on both net and same-stores sales for the first quarter.

New York -- Michaels posted increases on both net and same-stores sales for the first quarter.

Net sales increased 5.9% to $1.05 billion from $993 million during last year’s first quarter. Comparable store sales increased 3.8% driven by a 2.4% increase in the company's average ticket, a 1.3% increase in transactions and a 10 basis point positive impact from deferred custom framing revenue.

May 12, 2014

Michaels has launched its new “inspirational” arts and crafts site that offers 24-hour shopping on any computer, tablet or smartphone.

Irving, Texas - Michaels has launched its new “inspirational” arts and crafts site that offers 24-hour shopping on any computer, tablet or smartphone. The new site offers project ideas and one-click shopping lists for projects.

It also features "Favorite Pins" – projects and products that are trending on Pinterest from Michaels.com. During the launch period, Michaels.com will feature 21 days of hourly, daily and weekly online specials.

April 18, 2014

Three months after the country’s largest arts and crafts chain revealed that its namesake and subsidiary stores had been hacked in what promised to be a major payment card security breach, Michaels Stores revealed late Thursday that 2.6 million cards were likely affected in the attack.

Irving, Texas -- Three months after the country’s largest arts and crafts chain revealed that its namesake and subsidiary stores had been hacked in what promised to be a major payment card security breach, Michaels Stores revealed late Thursday that 2.6 million cards were likely affected in the attack.

April 18, 2014

If retailers want to address credit card breaches head-on, then they need to join the leaders already taking their systems off the radar of advanced malware based attacks — especially any retailer that's seen repeated attacks, which illustrate that traditional IT defenses simply don't cut the mustard.

By Mark Bower, Voltage Security

January 28, 2014

An Illinois consumer has reportedly filed a lawsuit against Michaels Stores in federal court relating to the retailer’s possible recent data security breach.

Irving, Texas – An Illinois consumer has reportedly filed a lawsuit against Michaels Stores in federal court relating to the retailer’s possible recent data security breach. According to Bloomberg, Illinois resident Christina Moyer filed suit in Chicago federal court on Monday, Jan. 27, claiming the retailer broke an implied promise to protect the personal data of her and other consumers.

January 27, 2014

Michaels Stores has learned of possible fraudulent activity on some U.S. payment cards that had been used at Michaels, suggesting that the company may have experienced a data security attack.

Irving, Texas – Michaels Stores has learned of possible fraudulent activity on some U.S. payment cards that had been used at Michaels, suggesting that the company may have experienced a data security attack.

In a statement posted to its website on Jan. 25, Michaels said it is working closely with federal law enforcement and is conducting an investigation with the help of third-party data security experts to establish the facts.

December 27, 2013

Michaels Stores Inc., which has been privately held since 2006, is planning to launch an IPO in 2014.

Dallas – Michaels Stores Inc., which has been privately held since 2006, is planning to launch an IPO in 2014. According to a regulatory filing with the Securities and Exchange Commission (SEC), private equity owners Bain Capital Partners and Blackstone Group will retain control of the retailer after the public stock sale.

August 29, 2013

Michaels Stores Inc.’s second-quarter profit soared 53.8% amid higher sales and lower interest expenses.

Irving, Texas -- Michaels Stores Inc.’s second-quarter profit soared 53.8% amid higher sales and lower interest expenses.

The retailer reported a profit of $20 million for the quarter ended Aug. 3, compared with $13 million a year earlier.
Sales inched up 1.3% to $904 million. Same-store sales fell 1.3%, due to a 3.6% decrease in transactions and a 0.4% decrease in deferred custom framing revenue, which was partially offset by a 2.7% increase in the company's average ticket.

June 27, 2013

Framing and arts supplies retailer Aaron Brothers is reinventing its stores with a new design that celebrates artistic expression and the creative process. The space, which has an urban, modern look, recalls an artist's loft and is set up to provide shoppers with all the tools they need to make better-informed decisions.

June 18, 2013

As part of the celebration of its 40th year, Michaels Arts and Crafts will launch a Michaels Craft Tour this month, stocking an 18-wheeler with a 1,000-sq.-ft. craft room that is transported to various Michaels store openings and other events around the country.

Irving, Texas -- As part of the celebration of its 40th year, Michaels Arts and Crafts will launch a Michaels Craft Tour this month, stocking an 18-wheeler with a 1,000-sq.-ft. craft room that is transported to various Michaels store openings and other events around the country.

Other features include interactive social media walls and TV screens showing Michaels DIY videos.

March 13, 2013

Michaels Stores said its fourth-quarter profit rose 15%, boosted by higher sales.

Irving, Texas -- Michaels Stores said its fourth-quarter profit rose 15%, boosted by higher sales.
   
For the three months ended Feb. 2, the company said net income rose to $112 million, up from $97 million in the year ago period.

Revenue rose 9% to $1.52 billion, helped by an extra week in the quarter. Same-store sales increased 1.7%, with a 2.3% increase in the average ticket.

For the year, net sales increased 15% to $4.41 billion. Net income totaled $214 million, up from $176 million in fiscal 2011.

September 6, 2012

Loyalty solution-provider Alliance Data Systems Corp. said that its Canadian coalition loyalty business has signed a new agreement with Michaels of Canada, a subsidiary of Irving, Texas-based Michaels Stores, to issue Air Miles reward miles across multiple Canadian provinces.

Dallas -- Loyalty solution-provider Alliance Data Systems Corp. said Thursday that its Canadian coalition loyalty business has signed a new agreement with Michaels of Canada, a subsidiary of Irving, Texas-based Michaels Stores, to issue Air Miles reward miles across multiple Canadian provinces.

August 23, 2012

Michaels Stores Inc. reported that its net income rose 30% to $13 million for the quarter ended July 28, from $10 million in the year-ago period.

Irving, Texas -- Michaels Stores Inc. reported that its net income rose 30% to $13 million for the quarter ended July 28, from $10 million in the year-ago period. The retailer said an increase in total transactions and custom framing helped boost second-quarter earnings for the arts and crafts retailer.

Total sales for the quarter ending July 28 rose 4.1% to  $892 million. Same-store sales increased 2.9%.

Michaels filed for an IPO in March.
 

August 15, 2012

Michaels Stores is taking its energy conservation efforts to the next level. The arts and crafts retailer has rolled out several advanced extensions to its energy management system. The extensions are expected to bring Michaels’ total EMS-related savings to more than 30%.

July 23, 2012

Michaels Arts and Crafts said it will be seeking a new top executive to replace CEO John Menzer, who has resigned to recover from a stroke.

Irving, Texas -- Michaels Arts and Crafts said Friday it will be seeking a new top executive to replace CEO John Menzer, who has resigned to recover from a stroke.
 
After Menzer suffered a stroke in April, Michaels created an office of the CEO comprised of Lew Klessel, interim COO and a managing director of Bain Capital, and Chuck Sonsteby, Michael’s chief administrative officer and CFO. The pair will continue to lead the company until Menzer’s successor is hired.

June 26, 2012

Michaels Stores creative expert Jo Pearson will serve as one of three judges on TLC's new competition series, "Craft Wars."

Irving, Texas — Michaels Stores creative expert Jo Pearson will serve as one of three judges on TLC's new competition series, "Craft Wars." The show, hosted and executive produced by celebrity crafter Tori Spelling, premieres June 26 at 10 p.m. Eastern (9 p.m. Central time).

April 18, 2012

Siemens Building Technologies Division announced that Michaels Stores recently rolled out a series of Siemens advanced extensions to the Site Controls’ energy management system (EMS).

Buffalo Grove, Ill. -- Siemens Building Technologies Division announced that Michaels Stores recently rolled out a series of Siemens advanced extensions to the Site Controls’ energy management system (EMS). The extensions will provide Michaels a cash-on-cash payback of 20 months, and an ROI exceeding 90%. In addition, the investment will drive further reductions in Michaels’ carbon footprint, the environmental equivalent of 5,600 cars from the road each year.

March 30, 2012

Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

New York -- Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

August 22, 2011

Michaels Stores and procurement management firm LogicSource announced a five-year agreement under which LogicSource will provide print procurement and related services to Michaels.

Norwalk, Conn. -- Michaels Stores and procurement management firm LogicSource announced a five-year agreement under which LogicSource will provide print procurement and related services to Michaels. More than $250 million of print and promotional spend will be covered over the life of the contract.
 

May 13, 2011

Michaels said on Friday it has removed the PIN pad tampering threat from its U.S. stores and believes it has identified the time frame that customer information was exposed.

Irving, Texas -- Michaels said on Friday it has removed the PIN pad tampering threat from its U.S. stores and believes it has identified the time frame that customer information was exposed. Based on the latest information available, exposed PIN pad transactions occurred from Feb. 8 through May 6, the date Michaels disabled the tampered devices.

August 31, 2010

Jacksonville, Fla.-based Regency Centers said it has leased retail space in Cincinnati at Hyde Park...

January 12, 2010

Michaels Stores has gone live with RedPrairie’s warehouse management and workforce management solutions in three...

October 18, 2009

Arts and crafts retailer Michaels will open its first-ever Manhattan store on Oct. 25....