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An upbeat Michaels beats Street
The Michaels Companies reported better-than-expected earnings for the fourth quarter and also issued an upbeat forecast for 2017. Michaels reported net income of $193.5 million for the quarter ended January 28, up 6.3% from $183.7 million in the year-ago period. Net sales increased 4.1% to $1.8 billion, from $1.7 billion in the year-ago period. The company attributed the increase largely to its February 2016 acquisition of Lamrite West and sales from 19 additional stores. -
Report: Amazon’s Elements brand offers invite-only vitamins
Amazon is once again expanding its commitment to private label. The online giant’s Elements line, which was originally launched as a baby products line, quietly introduced a vitamins and supplements category on Feb. 21 — the first addition to the Elements brand in years, according to TechCrunch.

