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Michaels stays ahead of bad weather in fourth quarter
Although bad weather hurt some retailers during the crucial fourth quarter, it didn’t stop Michaels Stores from seeing comparable store sales increase 4.6% for the period ended Feb. 1.
Comparable store sales were driven by a 4.2% increase in the company's average ticket and a 0.5% increase in transactions, partially offset by a 10 basis point impact from deferred custom framing revenue.
Net sales increased 2% to $1.55 billion from $1.52 billion during the quarter, which had a 53rd week that generated an estimated $66 million in net sales.
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Eddie Bauer renews Alliance Data private label card agreement
Bellevue, Wash. – Eddie Bauer has signed a long-term renewal agreement with Alliance Data Systems Corp. to continue providing private label credit card services. Alliance Data will continue to deliver a marketing-driven private label credit card program that recognizes and rewards Eddie Bauer cardholders and complements the reward incentives the Eddie Bauer Friends rewards program offers customers.