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Michaels Stores Q4 profit rises 15%
Irving, Texas -- Michaels Stores said its fourth-quarter profit rose 15%, boosted by higher sales.
For the three months ended Feb. 2, the company said net income rose to $112 million, up from $97 million in the year ago period.
Revenue rose 9% to $1.52 billion, helped by an extra week in the quarter. Same-store sales increased 1.7%, with a 2.3% increase in the average ticket.
For the year, net sales increased 15% to $4.41 billion. Net income totaled $214 million, up from $176 million in fiscal 2011. -
Bongo helps online wholesaler go international
SCOTTSDALE, Ariz. — DollarDays.com, an online wholesale distributor, has recently joined forces with Bongo International to offer customers located worldwide the same discounts and service that U.S. clients have enjoyed for over 12 years. Bongo International is a global e-commerce solution providing U.S. retailers access to international markets with no change to their current operations.