Michaels Companies: Q2 Earnings Insights

Shares of Michaels Companies MIK moved higher by 5% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 57.89% year over year to $0.30, which beat the estimate of ($0.08).

Revenue of $1,148,000,000 rose by 11.03% year over year, which beat the estimate of $1,010,000,000.

Outlook

Michaels Companies hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: Sep 03, 2020

Time: 09:00 AM

ET Webcast URL: https://dpregister.com/DiamondPassRegistration/register?linkSecurityString=78449&confirmationNumber=10147030

Technicals

52-week high: $11.70

Company's 52-week low was at $1.00

Price action over last quarter: Up 109.44%

Company Profile

The 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, Custom and ready-made 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.