The Michaels Companies, Inc. (MIK)

Retail


Michaels Stores, Inc. is headquartered in Irving, TX and was incorporated in the state of Delaware in December 1983. In July 2013, Michaels Stores, Inc. was reorganized into a holding company structure and The Michaels Companies, Inc. was incorporated in connection with the reorganization. The Company had $5,138M of net sales for the LTM period ended November 2, 2019. It considers itself to be the largest arts and crafts specialty retailer in North America based on store count with 1274 Michaels Stores opened at the end of 3Q19. Stores average 18,000 square feet and are located throughout the US and Canada. (Canada accounted for 135 of the total number of stores at 2/2/19.) Stores are all leased as are its seven distribution centers and office locations. Average net sales per square foot have been stable during the past five years at $227 in FY18 with 22,339,000 selling square footage.