The Michaels Companies Announces First Quarter Fiscal 2015 Financial Results
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Michaels Cos. (MIK) Misses Q1 EPS by 1c
June 4, 2015 7:05 AM EDTMichaels Cos. (NASDAQ: MIK) reported Q1 EPS of $0.32, $0.01 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.08 billion. The company also reiterated its fiscal year 2015 outlook.
Comparable store sales increased by 0.3% or 1.4% on a constant currency basis.
Chuck Rubin, Chairman and Chief Executive Officer, stated, "We delivered another solid quarter, despite several headwinds such as foreign exchange rates, unfavorable weather early in the quarter and the previous year's Rainbow Loom® sales. Our teams... More
