Michaels Companies: Q1 Earnings Insights

Shares of Michaels Companies MIK decreased 13% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 238.71% over the past year to ($0.43), which missed the estimate of $0.13.

Revenue of $799,888,000 decreased by 26.88% from the same period last year, which missed the estimate of $1,010,000,000.

Looking Ahead

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

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

Conference Call Details

Date: Jun 04, 2020

Time: 09:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/mik/mediaframe/37734/indexr.html

Technicals

52-week high: $11.10

Company's 52-week low was at $1.00

Price action over last quarter: Up 208.22%

Company Description

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.