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The Michaels Companies tops estimates

Aug. 24, 2017 7:10 AM ETThe Michaels Companies, Inc. (MIK) StockBy: Clark Schultz, SA News Editor
  • The Michaels Companies (NASDAQ:MIK) reports comparable sales growth of 0.6% in Q2 vs. -0.9% consensus estimate. An increase in transactions during the quarter helped to offset a drop in average price per ticket.
  • Gross profit as a percentage of sales rose 70 bps to 37.5%. SG&A expenses as a percentage of sales increased 70 bps to 29.3% of sales. Operating income was flat at 8.2% of sales.
  • The retailer expects full-year sales growth of 2.8% to 3.8% and FY18 EPS of $2.11 to $2.16 vs. $2.08 consensus.
  • Previously: The Michaels Companies beats by $0.03, beats on revenue (Aug. 24)

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The Michaels Companies, Inc.