|Bid||16.86 x 2200|
|Ask||16.87 x 800|
|Day's Range||16.68 - 16.90|
|52 Week Range||15.85 - 27.87|
|PE Ratio (TTM)||9.11|
|Earnings Date||Nov 28, 2018 - Dec 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||21.75|
Deloitte is forecasting a 5% to 5.6% year-over-year increase in retail holiday sales this year, with spending expected to exceed $1.1 trillion between November and January, excluding motor vehicles and gasoline. E-commerce is expected to increase 17% to 22% this season versus last season, reaching $128 billion to $134 billion. Deloitte analysts attribute the increase to disposable income growth, a strong labor market, and high consumer confidence. Risks include the impact of Fed tightening and any changes in the stock market that could drive a deterioration in consumer confidence. Target Corp. has increased its seasonal hire by 20% to 120,000 in anticipation of the coming holiday season. Macy's Inc. and Michaels Cos. Inc. are among the other retailers that have already announced their seasonal hiring plans. The Amplify Online Retail ETF has gained 28% for 2018 so far. The SPDR S&P Retail ETF has rallied 14.4% for the period. And the S&P 500 index is up 8.8% for 2018 to date.
Short interest is moderately high for MIK with between 10 and 15% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on September 14.
Michaels' (MIK) dismal sales trend and strained margins over the last few quarters are concerning. However, its omni-channel efforts look promising.
Target Corp. said Thursday that it will hire 120,000 seasonal workers for this year's holiday season, 20% more than last year. The retailer said it will also offer extra hours to current members. Companies including Macy's Inc. and Michaels Cos. Inc. have also announced their seasonal hiring numbers, many matching 2017 numbers. "Coming off a strong second quarter, we're anticipating a busy holiday season and want to make sure we have the right teams in place across all of our stores and distribution and fulfillment centers to deliver an exceptional experience for our guests," said Janna Potts, Target's chief stores officer, in a statement. More than 7,500 workers will be in fulfillment and distribution centers. Workers hired after Sept. 16 will start at $12 per hour, get a 10% employee discount, and an additional 20% off of fruits, vegetables and other items as part of a "wellness discount," among other perks. Target is scheduled to host a seasonal hiring event from Oct. 12 to Oct. 14. Target shares edged up 0.3% in premarket trading, and are up nearly 36% for the year to date. The S&P 500 index has gained 8.1% in 2018 so far.
Radial, a multi-platform commerce tech and operations company, said Monday that it will add 20,000 seasonal workers for the holiday season, equal to the amount it added in 2017. Radial has 23 fulfillment centers and eight customer service centers in North America, and regularly employs 3,000 full-time workers. Last week, Michaels Cos. Inc. announced it will hire 15,000 seasonal workers, and 1-800-Flowers.com Inc. said it would add 8,000 workers for the holidays. The SPDR S&P Retail ETF is up 14.6% for the year so far, outpacing the S&P 500 index , which is up 7.7% for the period.
MARKET PULSE Arts and crafts retailer The Michaels Cos. Inc. (mik) said Friday its board has approved a share buyback program of up to $500 million. The approval brings the company's total authorization to about $600 million, the company said in a release.
The Michaels Companies, Inc. (MIK) today announced that its Board of Directors has authorized a new share repurchase program for up to $500 million of its common stock. Chuck Rubin, Chairman and Chief Executive Officer, said, “We are pleased to announce a new $500 million share repurchase authorization today. With this new repurchase authorization, the total authorization for future repurchases was approximately $600 million as of September 7, 2018.
Crafts and art supplies retailer Michaels Cos. is warning that retail prices could be hit by the Trump administration’s next round of proposed tariffs on Chinese imports. An estimated $400 million of its product costs would be subject to the tariffs, Chief Executive Officer Chuck Rubin says. Michaels has “a lot of levers” it can pull to mitigate the impact, Rubin said Wednesday at a Goldman Sachs Group Inc. retail conference in New York.
Michaels Companies Inc. (mik) said Wednesday it plans to hire more than 15,000 seasonal workers for the holidays, in its U.S. and Canada stores and distribution centers. The company said seasonal workers will have competitive wages and a 30% discount at Michaels stores.
The Michaels Companies, Inc. (MIK) today announced it will hire more than 15,000 seasonal positions across its U.S. and Canadian stores and distribution centers in preparation for the 2018 holiday season. Additionally, the Company was recently certified as a great workplace by the independent analysts at Great Place to Work®, the global authority on high-trust, high-performance workplace cultures. “At Michaels we are proud of our strong culture and are thrilled to be officially named a great workplace.
While Michaels Companies (MIK) reports an earnings beat in second-quarter fiscal 2018, the stock's plunge is due to soft comps.
U.S. equities moved lower on Thursday — the first decline in five sessions — as optimism around trade talks with Canada are eclipsed by a worsening situation in emerging market currencies. The company will next report results on Nov. 6, after the close.
The crafting supplies retailer published a mixed second-quarter report this morning, which fell short of management's same-store sales targets.
The arts and crafts retail giant wants to attract and serve a wider range of customers, starting with some new store concepts leading up to the holidays.
MARKET PULSE Shares of Michaels Companies Inc. (mik) slumped 6.4% in premarket trade Thursday, after the arts and crafts retailer beat fiscal second-quarter earnings expectations, but reported a surprise decline in same-store sales and provided a downbeat outlook.
NEW YORK, NY / ACCESSWIRE / August 30, 2018 / Michaels Companies Inc (NASDAQ: MIK ) will be discussing their earnings results in their Q2 Earnings Call to be held on August 30, 2018 at 9:00 AM Eastern ...
IRVING, Texas-- -- Comparable Store Sales Decreased 0.4% Net income of $27.5 million, or $0.15 per diluted share Full Year Diluted EPS Guidance raised by $0.10 to $2.29 to $2.42 10.7 Million Shares of Common Stock Repurchased Through Accelerated Stock Repurchase Program The Michaels Companies, Inc. today reported diluted earnings per share for the second quarter of fiscal 2018 of $0.15, one cent above ...
The Michaels Companies, Inc. (MIK) today announced that it will participate in the Goldman Sachs 25th Annual Global Retailing Conference, which will be held at The Plaza Hotel in New York City, New York. Chuck Rubin, Chairman and CEO is scheduled to participate in a “fireside chat” on Wednesday, September 5, 2018, at 8:05 a.m. Eastern Time. A Fortune 500® Company, The Michaels Companies, Inc. is North America's largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for Makers and do-it-yourself home decorators.