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Sales and earnings up at Michaels in Q2
IRVING, Texas — Michaels Stores reported a second quarter same-store sales increase of 2.9% driven by a 3% increase in transactions and a positive impact of 0.9% from deferred custom framing revenue partially offset by a 1% decrease in average ticket.
Net sales for the quarter increased 4.1% to $892 million from $857 million in the second quarter of fiscal 2011.
Net income for the quarter increased 30% to $13 million, and as a percent of net sales increased 20 basis points to 1.4%.
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Jack Link’s gets to meat of the election
The marketing team at Jack Link’s Beef Jerky has outdone themselves with a clever and lighthearted brand-building effort that plays off the presidential election. The company is asking consumers to vote for their favorite “meathead,” a two-foot-by-three-foot likeness of president Barack Obama and challenger Mitt Romney made from various types of jerky.