UPDATE: Michaels Cos. (MIK) Tops Q1 EPS by 1c; Comps Light of Expectations; Guides Q2 EPS Below Views

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Go back to UPDATE: Michaels Cos. (MIK) Tops Q1 EPS by 1c; Comps Light of Expectations; Guides Q2 EPS Below Views

The Michaels Companies Announces First Quarter Fiscal 2016 Financial Results

June 7, 2016 7:01 AM EDT

Total net sales increased 7.5% to $1.16 billion, or 8.1% on a constant currency basis Comparable store sales increased 0.9%, or 1.4% on a constant currency basisOperating income increased 0.9% to $145.3 million; adjusted operating income increased 6.3% to $153.0 millionDiluted EPS increased 6.3% to $0.34; adjusted diluted EPS increased 12.5% to $0.36

IRVING, Texas, June 07, 2016 (GLOBE NEWSWIRE) -- The Michaels Companies, Inc. (NASDAQ: MIK) today announced financial results for the first quarter ended April 30, 2016.

I am pleased with our overall financial performance for the first quarter, said Chuck Rubin,... More