The Michaels Companies Announces Second Quarter Fiscal 2020 Results
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Michaels Cos. (MIK) Tops Q2 EPS by 38c, Revenues Beat
September 3, 2020 7:04 AM EDTMichaels Cos. (NASDAQ: MIK) reported Q2 EPS of $0.30, $0.38 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.01 billion.
Net Sales increase of 11.1% to $1.148 billion; Comparable Store Sales increase of 12.0%; including e-commerce growth of 353.1%Operating Income $53.3 million, Adjusted Operating Income increase of 40.7% to $105.8 millionFree Cash Flow of $331 million, liquidity of approximately $1.3 billion, inclusive of $651 million in cashMichaels to hold virtual investor day on September 24, 2020Ashley Buchanan, Michaels Chief Executive Officer commented, Michaels strong... More
