Michaels Cos. (MIK) Tops Q3 EPS by 1c

Michaels Cos. (NASDAQ: MIK) reported Q3 EPS of $0.17, $0.01 better than the analyst estimate of $0.16. Revenue for the quarter came in at $984.3 million versus the consensus estimate of $985.2 million.

Comparable store sales increased by 1.6% or 2.9% on a constant currency basis. Comparable store sales increased 3.2% in the second quarter of fiscal 2014, which included approximately $14 million in sales of the Rainbow Loom product.

Michaels Cos. sees FY2015 EPS of $1.66-$1.72, versus the consensus of $1.70.

For earnings history and earnings-related data on Michaels Cos. (MIK) click here.

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