Recap: Michaels Companies Q4 Earnings

Shares of Michaels Companies MIK are down 15% after the company reported Q4 results.

Quarterly Results

Earnings per share fell 12.5% year over year to $1.26, which beat the estimate of $1.25.

Revenue of $1,723,000,000 less by 3.69% year over year, which beat the estimate of $1,720,000,000.

Guidance

Q1 revenue expected to be between $1,080,000,000 and $1,100,000,000.

Details Of The Call

Date: Mar 17, 2020

Time: 08:03 AM ET

Webcast URL: http://dpregister.com/DiamondPassRegistration/register?linkSecurityString=78449&confirmationNumber=10138575

Recent Stock Performance

52-week high: $13.70

52-week low: $1.65

Price action over last quarter: down 63.08%

Company Profile

Michaels Companies Inc is an arts and crafts specialty retailer in North America. The company provides materials, project ideas, and education for creative activities like crafting classes, store events, store displays, mobile applications, and online videos. The company sells merchandise through two stores: Michaels and Aaron Brothers. Michaels' revenue segments are general crafts, home decor and seasonal, framing, and paper crafting. Aaron Brothers offer unique framing assortments. The company operates its own distribution network through a wholly owned subsidiary to supply merchandise in the stores.