Michaels Stores

Irving, Texas -- Michaels Stores Inc. reported that its net income rose 30% to $13 million for the quarter ended July 28, from $10 million in the year-ago period. The retailer said an increase in total transactions and custom framing helped boost second-quarter earnings for the arts and crafts retailer.

Total sales for the quarter ending July 28 rose 4.1% to  $892 million. Same-store sales increased 2.9%.

Michaels filed for an IPO in March.
 

Michaels Stores is taking its energy conservation efforts to the next level. The arts and crafts retailer has rolled out several advanced extensions to its energy management system. The extensions are expected to bring Michaels’ total EMS-related savings to more than 30%.

IRVING, Texas — Michaels Stores has recognized 12 vendor partners for their contributions to Michaels' success over the past year.

NORWALK, Conn. — LogicSource, a procurement services firm which initially focused on printed materials and related commodities and services, will now offer clients sourcing and procurement of materials for store construction and maintenance, including rollout displays, fixtures, lighting, flooring, mannequins, hangers, gift boxes, bags and exterior signage.

Irving, Texas — Michaels Stores creative expert Jo Pearson will serve as one of three judges on TLC's new competition series, "Craft Wars." The show, hosted and executive produced by celebrity crafter Tori Spelling, premieres June 26 at 10 p.m. Eastern (9 p.m. Central time).

BUFFALO GROVE, Ill. — Michaels Stores has become more energy-efficient, thanks to its rollout of a new series of systems from Siemens. The additional savings created by the new advanced-capability deployments are expected to bring total energy-related savings to more than 30%.

Buffalo Grove, Ill. -- Siemens Building Technologies Division announced that Michaels Stores recently rolled out a series of Siemens advanced extensions to the Site Controls’ energy management system (EMS). The extensions will provide Michaels a cash-on-cash payback of 20 months, and an ROI exceeding 90%. In addition, the investment will drive further reductions in Michaels’ carbon footprint, the environmental equivalent of 5,600 cars from the road each year.

By Elizabeth Cogswell Baskin

Editor’s note: Launched in March 2010, Pinterest now ranks as the third most-visited social-networking site in the United States, according to a recent report by Experian Marketing Services. Pinterest, which lets its users “pin” photos and information onto virtual boards, ranks behind only Facebook and Twitter in terms of total visitors, according to the report. It also skews heavily female — about 60% of users are women.

IRVING, Texas — After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

Seattle -- Online diamond and fine jewelry retailer Blue Nile announced the appointment of Harvey Kanter as CEO and president, effective March 30. Kanter will also be appointed to Blue Nile's board of directors, effective March 30.

Prior to joining Blue Nile, Kanter served as president and chief executive of Moosejaw Mountaineering and Backcountry Travel, a multichannel retailer of premium outdoor apparel and gear. Before Moosejaw, he served as executive VP and managing director of Michaels Stores.