Featured Company News – Michaels Plans to Hire 15,000 Employees for Seasonal Jobs This Year

Research Desk Line-up: Ulta Beauty Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for The Michaels Cos., Inc. (NASDAQ: MIK) (“Michaels”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MIK. The Company announced on 29 August, 2017, that it would hire for over 15,000 seasonal positions across its US and Canadian stores and distribution centers this holiday season. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Specialty Retail, Other industry. Pro-TD has currently selected Ulta Beauty, Inc. (NASDAQ: ULTA) for due-diligence and potential coverage as the Company announced on August 24, 2017, its financial results for Q2 2017 which ended on July 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Ulta Beauty when we publish it.

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The Company had seasonal hiring last year as well, wherein over 50% of the seasonal positions transitioned to regular roles after the holidays.

Hiring for the Holidays

Bryan Venberg, Executive Vice President of Human Resources and Stores at Michaels, expressed his views about this seasonal hiring. He stated that at Michaels, they believe that anyone can make something great, including decisions about where they choose to work.

He further added that Michaels Team Members work hard and have fun simultaneously while they assist customers in turning their inspiration and creativity into reality. This becomes even more critical during the holiday season, and thus the Company is hiring over 15,000 seasonal Team Members. These additional members would help Michaels’ customers in making their holiday projects come to life.

Being a Michaels Team Member

Being a Michaels Team Member has its own perks. A seasonal Team Member can expect the following:

Seasonal Michaels Team Members receive competitive wages, flexible schedules, as well as a 30% discount in a creative atmosphere. This makes working fun for most.
Being a part of the Michaels store team is a once in a lifetime experience filled with hard work, creativity, and teamwork. Each and every team member is supposed to help customers create something amazing, which is not a small task.

Online Applications

These additional 15,000 positions are being offered in 1,366 stores across 49 states in the US and Canada. Interested candidates can visit the online page Michaels.com/storejobs for further information about the position as well as for applying online.

Michaels Reported Financial Results for 2nd Quarter

Michaels reported financial results on August 24, 2017, for its 2nd quarter ending July 29, 2017.

For this quarter, net sales increased 1.2%, or 1.3% on a constant currency basis, to $1,072.6 million from $1,060.4 million in the second quarter of the fiscal year 2016. This increase can be attributed to the operation of 10 additional stores during the quarter.
At the same time, comparable store sales increased 0.6%, or 0.8% on a constant currency basis. This was led by an upsurge in customer transactions, which was partially offset by a decline in average ticket.
Similarly, gross profit rose 3.0% to $402.5 million from $390.7 million in the second quarter of the fiscal year 2016. Operating income increased 1.0% to $88.0 million, or 8.2% of sales, compared to $87.1 million, or 8.2% of sales, in the second quarter of the fiscal year 2016. However, net income remained flat at $35.6 million.
Diluted earnings per share increased from $0.17 in the second quarter of fiscal 2016 to $0.19 in Q2 FY17; representing an increment of 11.8%.

Future Outlook

Chuck Rubin, Chairman and Chief Executive Officer at Michaels, believes that sales and profitability trends will continue to improve for the rest of the year as the Company pursues its Vision 2020 strategy, while customers continue to respond positively to the enhancements being made to offer more value, more trend-right product, and a more integrated, omni channel experience. Thus, the Company anticipates that it would continue to deliver profitable growth and further expand its leadership in the arts and crafts channel.

Last Close Stock Review

On Wednesday, August 30, 2017, the stock closed the trading session at $22.39, slightly rising 0.13% from its previous closing price of $22.36. A total volume of 1.03 million shares have exchanged hands. Michaels Cos.’ stock price rallied 10.46% in the last one month, 12.29% in the past three months, and 9.70% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 9.49%. The stock is trading at a PE ratio of 11.83 and currently has a market cap of $4.10 billion.

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