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Prospector
Profile
07.1646
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| Michael's Stores, Inc. |
NAICS |
451120 |
| 8000 Bent Branch Dr.
Irving, TX 75063 |
Description |
Arts & Crafts Stores |
| (972) 409-1300 |
Employees |
43100 |
| http://www.michaels.com/art/online/static?page=corp_info |
Revenue |
(mil) |
3864.9760 |
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Income |
(mil) |
41.0960 |
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Assets |
(mil) |
1693.0020 |
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Liability |
(mil) |
4568.3250 |
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(for the year ended 2007-02-03) |
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Category:
Loss/Deficit
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Event:
Michaels Stores, Inc. incurred a net loss of $18.1 million in the third quarter ended November 3, 2007, a $53.1 million decrease from a net income of $35 million in the third quarter of fiscal 2006. Year-to-date net loss was $84.6 million, compared to a net income
of $108.3 million in the same period last year. The decrease in net income for both periods was due to interest expense. At Nov. 3, 2007, the company's balance sheet showed total assets of $1.95 billion, total liabilities of $4.89 billion, resulting to a shareholders' deficit of $2.94 billion.
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Intellectual Property:
The names “Aaron Brothers,” “Aaron Brothers Art & Framing,” “Artistree,” “Artistree Art Frame & Design,” “Michaels,” “Michaels.com,” “Michaels The Arts and Crafts Store,” “Recollections,” “Star Decorators Wholesale,” “Star Decorators Wholesale Warehouse,” “Vendor Connect,” and the Michaels logo are each federally registered service marks. [SEC Filing 10-K 05-03-07]
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Description:
The Company is a national arts and crafts specialty retailer providing materials, ideas and education for creative activities.
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Officers:
Charles J. Wyly (Chair); Sam Wyly (Vice Chair); Jeffrey N. Boyer (Co-Pres. & CFO);
Gregory A. Sandfort (Co-Pres. & COO); Richard E. Hanlon (Dir.); Richard C. Marcus (Dir.); Liz Minyard (Dir.); Cece Smith (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock-Symbol MIK; NYSE;
common shares outstanding as of September 5, 2006.
9 1/4% senior notes due 2009.
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