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Michaels sees same store sales slightly dip
IRVING, Texas — Michaels reported net sales of $993 million for the first quarter ended May 4, an increase of 1.5% from $978 million in the first quarter of fiscal 2012.
Although same-store sales decreased 0.7% due to a 3% decrease in transactions, it was offset by a positive 1.7% impact from a higher average ticket and a positive 0.6% impact in deferred custom framing revenue. Michaels experienced its strongest sales increases for the quarter in custom framing and yarn.
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Record results for Dollar Tree in Q1
CHESAPEAKE, Va. — Dollar Tree achieved the highest first-quarter operating margin in its history in the first quarter ended May 4.
Consolidated net sales for the first quarter ended May 4 were $1.9 billion, an 8% increase from $1.7 billion for the quarter ended April 28 last year. The value retailer saw a comparable store sales increase of 2% on top of a 6% increase for the first quarter last year.