Michaels holiday sales grow 3.5%

Irving, Texas – The Michaels Companies Inc. had plenty to smile about during the 2014 holiday season. Net sales for the eleven-week period from Nov. 2, 2014 to Jan. 17, 2015 increased 3.5% and same-store sales increased 1.5% from the comparable prior year period.



For the full fourth quarter of fiscal 2014, net sales are expected to be in the range of about $1.59 billion to $1.6 billion, with an expected increase in same-store sales ranging from 0.8% to 1.2%.