Michaels Stores (MIK) April Same-Store Sales Fell 3%
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Michaels Stores (NYSE: MIK) reported that total sales for the first quarter were $832.5 million, a 1.4% increase over last year's $821.0 million.
Same-store sales for the quarter decreased (3.0%) on a 1.6% increase in average ticket, a (5.0%) decrease in transactions, and a 0.4% increase in custom frame deliveries. A favorable Canadian currency translation added approximately 0.4% to the average ticket increase for the quarter.
Same-store sales for the quarter decreased (3.0%) on a 1.6% increase in average ticket, a (5.0%) decrease in transactions, and a 0.4% increase in custom frame deliveries. A favorable Canadian currency translation added approximately 0.4% to the average ticket increase for the quarter.
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