{"id":89,"date":"2012-08-28T14:29:00","date_gmt":"2012-08-28T18:29:00","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/2012\/08\/company-snapshot-michaels-stores-inc\/"},"modified":"2012-08-28T14:29:00","modified_gmt":"2012-08-28T18:29:00","slug":"company-snapshot-michaels-stores-inc","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2012\/08\/company-snapshot-michaels-stores-inc\/","title":{"rendered":"Company Snapshot: Michaels Stores Inc."},"content":{"rendered":"<div style=\"text-align: left;\" dir=\"ltr\">\n<p><strong>Address:<\/strong><br \/>\n8000 Bent Branch Dr.<br \/>\nIrving, TX 75063-6023<\/p>\n<p><strong>Telephone:<\/strong><br \/>\n972 409-1300<\/p>\n<p><strong>Internet Homepage:<\/strong><br \/>\n<a href=\"http:\/\/aaronbrothers.com\/\"><strong>http:\/\/www.michaels.com<br \/>\nhttp:\/\/aaronbrothers.com<\/strong><\/a><\/p>\n<p><strong>Total Stores<\/strong>:<br \/>\nAaron Brothers\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 128<br \/>\nMichaels\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,074<\/p>\n<p><strong>Total Annual Sales:<\/strong><br \/>\n$4,210,000,000<\/p>\n<p><strong>Senior Executive:<\/strong><br \/>\nCharles M. Sonsteby- CEO (Interim) CFO, CAO<\/p>\n<p>&nbsp;<\/p>\n<p>Michaels Stores<strong> <\/strong>is undoubtedly the preeminent arts and crafts retail chain in the country.\u00a0 Founded as a single unit, the company went public in 1984 while operating just sixteen locations.\u00a0 During a particularly challenging period, the company was acquired in 2006 by private equity firms Bain Capital and the Blackstone Group and taken private.<\/p>\n<p>Experiencing more positive financials recently, the company decided to file for an IPO (Initial Public Offering) with expectations to raise as much as $500 million.\u00a0 This money was expected to pay down debt and promote the retailer\u2019s expansion plans.<\/p>\n<p>While Michaels locations are well publicized, nationally eminent arts and crafts stores, Aaron Brothers stores should not be overlooked.\u00a0 Michaels locations average 18,200 square feet and are the big boxes of their genre; Aaron Brothers stores average 5,600 square feet and focus on a specialty framing and art supplies.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Michaels Stores is undoubtedly the preeminent arts and crafts retail chain in the country.  Founded as a single unit, the company went public in 1984 while operating just sixteen locations. <\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[15],"class_list":["post-89","post","type-post","status-publish","format-standard","hentry","category-home-hardware","tag-snapshot","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/89","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=89"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/89\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=89"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=89"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=89"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}