Michaels Stores: Crafty Appeal.(Brief Article)
Kiplinger's Pick of the Day Web Feature, September, 2004
Byline:Kiplinger Washington Editors
Strong operating momentum led Michaels Stores (MIK) into the "Analysts' Choice" seat of the August 30 issue of Dow Theory Forecasts, an investing strategy newsletter. Dow Theory singled out Michaels, the world's largest specialty chain of arts, crafts and hobby supplies stores, for its consistent sales and earnings growth and sound strategy for expansion and inventory management. In addition to its namesake craft stores, Michaels operates Aaron Brothers, a chain of framing and art supply stores on the West coast. The company is also experimenting with a store concept called "ReCollections," which caters to customers who are into making decorative scrapbooks. New stores are the biggest driver behind Michaels' strong...
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