Aaron Brothers
 |
|
| Public | |
| Traded as | NASDAQ: MIK |
| Industry | Retail |
| Founded | 1976 Dallas, Texas, U.S. |
| Founder | Michael Dupey |
| Headquarters | Irving, Texas, U.S. |
| Products | Retail-Arts, Crafts, Scrapbooking, Home Decor |
| Revenue |
 US $467.2 million (2016) |
| US $397.3 Million (2016) | |
| Owner | Bain Capital, Blackstone Group, Highfields Capital Management |
|
Number of employees
|
43,700 |
| Subsidiaries | Aaron Brothers Pat Catan's |
| Website | www |
Michaels Stores, Inc. is an American arts and crafts retail chain. It currently operates more than 1262 stores (consisting of 1,145 Michaels stores in 49 US states and Canada, 118 Aaron Brothers stores and 34 Pat Catan's stores) as of May 31, 2014. In addition, Michaels produces 10 exclusive private brands including Recollections, Studio Decor, Bead Landing, Creatology, Ashland, Celebrate It, Art Minds, Artist's Loft, Craft Smart and Loops & Threads. The corporate headquarters are located in Irving, Texas.
The average Michaels store now contains 40,000 different products in 18,200 square feet (1,700 m²) of selling space. The stores sell a selection of arts, crafts, framing, floral, wall décor, bakeware, beads, scrapbooking and seasonal merchandise for hobbyists and do-it-yourself home decorators.
Michaels is the largest such chain in the United States. Competitors include Hobby Lobby, Ben Franklin, Jo-Ann Stores, A.C. Moore and several smaller chains. Canadian competitors include DeSerres.
In April 2012, Michaels filed for a $500 million initial public offering (IPO), but it was put on hold due to the chief executive's illness. In June 2014, the IPO was scheduled again.
In 1976, Dallas businessman Michael J. Dupey opened Michaels in the former Northtown Mall in Dallas, Texas. The location closed in the 1990s and is now a technology building.
In 1982, Dallas businessman Samuel Wyly bought controlling interest in Michaels, when the company's annual revenues were around $10 million. After the sale, Dupey founded MJ Designs which was later bought out by Michaels.
In 1984, the Michaels chain was first publicly traded. At the time it had 16 stores.
In 1994, Michaels acquired the Treasure House Crafts chain in the Northwest United States. It also acquired Oregon Craft & Floral Supply, as well as H&H Craft & Floral. In July 1994, Michaels acquired Leewards Creative Crafts, a 101-unit store chain, which gave Michaels a "solid footing" in the Midwestern and Northeastern regions of the United States.
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Wikipedia