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Michaels paints a pretty financial quarter
The CEO of Michaels says an improved merchandising strategy and a focus on the customer experience helped drive sales growth at the specialty retailer in the second quarter.
Total sales increased 3.8% to $984.3 million in the second quarter ended Aug. 1 at Michaels and same store sales increased 2.9%. Michaels reported a profit of $35.7 million, or 17 cents a share, vs. a loss of $46.8 million, or 26 cents a share, a year ago.
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Lack of hit books hits Books-A-Million
Birmingham, Ala. – Books-A-Million needs more best-sellers.
A lack of hit books hit fiscal results of Books-A-Million Inc. during the second quarter of fiscal 2015. Net loss grew to $5.8 million from $3 million the same quarter a year earlier, with costs and expenses rising or staying flat in the face of slipping revenues.
Net sales dipped to $107.9 million, from $108.3 million. Same-store sales dropped 0.3%.

