The Michaels Companies Announces Third Quarter 2019 Results
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Michaels Cos. (MIK) Misses Q3 EPS by 9c, Revenues Beat; Offers Q4 & FY EPS Guidance Below Consensus
December 5, 2019 7:06 AM ESTMichaels Cos. (NASDAQ: MIK) reported Q3 EPS of $0.40, $0.09 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.26 billion.
We are moving ahead on bringing our customer-centric, core \'Maker\' strategy to life, and we are encouraged by the early operational progress being made. Combining this with the sales gains from our recent opportunistic transaction tied to A.C. Moore exiting their retail business, we believe we are on the path to improved, consistent, financial performance over time, said Mark Cosby, Chief Executive... More
