Michaels

OverviewSuggest Edit

The Michaels Companies owns and operates arts and crafts specialty retail stores. It operates Michaels stores that offer crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer photo frames, art prints, framed art, art supplies, and custom framing. The Company also operates Pat Catan's stores that provide an assortment of kids craft items, fine art supplies, yarn, floral supplies, scrapbooking materials, home decor, bakeware, and wedding related merchandise. In addition, the Company provides a number of private brands. Further, it manufactures custom and specialty framing merchandise, distributes craft and hobby items products, as well as decor products, and sells its products through an e-commerce platform.

TypePublic
Founded1973
HQIrving, TX, USMap
Websitemichaels.com
Employee Ratings3.3More
Overall CultureBMore
View Jobs (1,856)

Recent NewsAll News

Latest Updates

Employees (est.) (Feb 2020)12,000
Job Openings1,856
Revenue (FY, 2017)$5.4 B(+4%)
Share Price (Apr 2021)$22
Cybersecurity ratingBMore

Key People/Management at Michaels

James A. Quella

James A. Quella

Chairman of the Board
Josh Bekenstein

Josh Bekenstein

Director
Richard Armour

Richard Armour

Senior Vice President - eCommerce
Ashley Buchanan

Ashley Buchanan

Chief Executive Officer
Heather Bennett

Heather Bennett

Executive Vice President – Head of Innovation
Ryan Cotton

Ryan Cotton

Director
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Michaels Office Locations

Michaels has an office in Irving
Irving, TX, US (HQ)
8000 Bent Branch Dr
Show all (1)

Michaels Financials and Metrics

Michaels Revenue

Michaels's revenue was reported to be $5.36 b in FY, 2017
USD

Revenue (FY, 2017)

5.4b

Gross profit (FY, 2017)

2.1b

Gross profit margin (FY, 2017), %

39.7%

Net income (FY, 2017)

390.5m

EBIT (FY, 2017)

735.4m

Market capitalization (22-Apr-2021)

3.1b

Closing stock price (22-Apr-2021)

22.0

Cash (3-Feb-2018)

425.9m

EV

5.4b
Michaels's current market capitalization is $3.1 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

1.6b4.7b4.9b5.2b5.4b

Revenue growth, %

195%4%6%

Cost of goods sold

3.2b

Gross profit

2.1b
Quarterly
USDQ3, 2014Q2, 2014Q2, 2015Q1, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

1.1b948.0m984.3m1.1b1.2b1.2b1.1b1.2b1.2b1.1b1.2b

EBIT

142.0m52.0m96.6m144.0m155.9m145.3m87.1m146.3m139.3m88.0m153.9m

EBIT margin, %

13%5%10%13%13%13%8%12%12%8%12%

Interest expense

41.0m61.0m34.3m37.8m33.8m32.2m32.0m31.5m30.4m31.1m32.8m
show all
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2017

Cash

378.0m409.4m298.8m298.8m425.9m

Accounts Receivable

23.2m23.2m26.2m

Prepaid Expenses

97.8m

Inventories

86.5m1.1b
Quarterly
USDQ3, 2014Q2, 2014Q2, 2015Q1, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

194.0m90.0m70.4m272.6m114.7m171.9m114.8m150.0m197.9m134.1m176.8m

Accounts Receivable

24.9m26.9m36.9m26.4m24.3m30.9m

Current Assets

1.5b1.2b1.3b1.4b1.5b1.3b1.4b1.7b1.4b1.5b1.7b

PP&E

377.0m366.0m394.7m387.9m385.4m402.8m398.7m412.2m403.0m407.7m401.9m
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Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2017

Net Income

157.0m362.9m378.2m378.2m390.5m

Depreciation and Amortization

111.0m114.8m115.8m115.8m118.9m

Inventories

20.1m(1.2m)5.3m

Accounts Payable

77.0m24.2m38.2m38.2m(38.0m)
Quarterly
USDQ3, 2014Q2, 2014Q2, 2015Q1, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

61.0m(3.0m)102.4m66.7m179.2m70.8m106.4m182.8m72.2m107.8m

Depreciation and Amortization

82.0m53.0m55.9m27.9m85.4m29.5m58.5m86.7m28.6m57.4m

Accounts Payable

138.0m(38.0m)(10.7m)(65.0m)122.7m(108.3m)(20.2m)233.3m(91.8m)(11.8m)

Cash From Operating Activities

36.0m(124.0m)(87.1m)(76.2m)7.5m(23.9m)(24.4m)136.5m22.9m(4.0m)
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Show all financial metrics

Michaels Operating Metrics

Michaels's Stores was reported to be 1.4 k in Q1, 2018.
FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018

Retail Sales per Square Foot

$220$223$223

Retail Space, sq. ft.

21.61 m22.07 m23.54 m

Stores

1.29 k1.3 k1.3 k1.2 k1.31 k1.35 k1.36 k1.37 k1.37 k1.36 k

Vendors

630650620
Show all operating metrics

Michaels Revenue Breakdown

Embed Graph

Michaels revenue breakdown by business segment: 49.8% from General Crafts, 16.6% from Framing, 22.0% from Home Décor and Seasonal and 11.6% from Papercrafting

Michaels revenue breakdown by geographic segment: 9.4% from Canada and 90.6% from United States

Michaels Cybersecurity Score

Cybersecurity ratingPremium dataset

B

80/100

Learn more about our premium products
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Michaels Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

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Michaels Online and Social Media Presence

Michaels's Trends

Embed Graph

Michaels Company Culture

  • Overall Culture

    B

    69/100

  • CEO Rating

    C

    66/100

  • Compensation

    D

    53/100

  • Diversity

    C-

    62/100

Learn more on Comparably

Michaels News and Updates

April 30, 2021

How Julia Michaels arrived to pop perfection on her own time

The acclaimed songwriter turned singer notched three EPs under her belt. But she’s finally dropped her debut studio album ‘Not in Chronological Order.’ Julia Michaels is in rare form—and getting there has been a slow burn worth waiting for.Read Full Story
April 09, 2021

Apollo Announces Extension of the Tender Offer for Shares of The Michaels Companies

NEW YORK, April 08, 2021 (GLOBE NEWSWIRE) -- Magic MergeCo, Inc. (the “Purchaser”), an entity controlled by funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), a leading global alternative investmen…
March 17, 2021

Sightline Payments Appoints Jonathan Michaels as Senior Vice President of Strategic Development and Government Affairs

Key new executive brings extensive industry experience and relationships to the Sightline Payments team to accelerate momentum on cashless gaming, responsible gaming, and more Key new executive brings extensive industry experience and relationships to the Sightline Payments team to accelerate moment…
March 16, 2021

Apollo Announces Commencement of the Tender Offer for All Outstanding Shares of The Michaels Companies

NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries “Apollo”) announced today that its affiliate, Magic MergeCo, Inc. (“Purchaser”), commenced the previously announced cash tender offer for all of the issued and outst…
March 04, 2021

Michaels beats profit and sales expectations, a day after announcing buyout deal

Michaels Companies Inc. reported Thursday fiscal fourth-quarter profit and sales that rose above expectations, a day after the arts-and-crafts retailer announced a deal to be acquired by Apollo Global Management Inc. in a deal valued at $3.3 billion. Net income for the quarter to Jan. 30 rose to $…
March 04, 2021

SHAREHOLDER ALERT: Rigrodsky Law, P.A. Announces Investigation of The Michaels Companies, Inc. Buyout

WILMINGTON, Del., March 03, 2021 (GLOBE NEWSWIRE) -- Rigrodsky Law, P.A. announces that it is investigating The Michaels Companies, Inc. (“Michaels”) (NASDAQ GS: MIK) regarding possible breaches of fiduciary duties and other violations of law related to Michaels’ agreement to be acquired by affili…
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 Michaels Frequently Asked Questions

  • When was Michaels founded?

    Michaels was founded in 1973.

  • Who are Michaels key executives?

    Michaels's key executives are James A. Quella, Josh Bekenstein and Richard Armour.

  • How many employees does Michaels have?

    Michaels has 12,000 employees.

  • What is Michaels revenue?

    Latest Michaels annual revenue is $5.4 b.

  • What is Michaels revenue per employee?

    Latest Michaels revenue per employee is $446.8 k.

  • Who are Michaels competitors?

    Competitors of Michaels include Hobby Lobby, JOANN and Party City Holdco.

  • Where is Michaels headquarters?

    Michaels headquarters is located at 8000 Bent Branch Dr, Irving.

  • Where are Michaels offices?

    Michaels has an office in Irving.

  • How many offices does Michaels have?

    Michaels has 1 office.