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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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After a long winter, Tic Tac launches Summer Ice Pop mints
Tic Tac mints has launched limited edition Summer Ice Pop Tic Tac mints. The combination of blue berry-flavored pills, red cherry-flavored pills and white lime-flavored pills aims to offer consumers a nostalgic reminder of summertime, the company said.