SlideShare a Scribd company logo
John Menzer Chief Executive Officer
[object Object]
Our approach to the current retail landscape
Michaels’ long-term strategy and vision
Current and future industry trends
Q&A,[object Object]
$4 Billion in Sales
37,186 Associates (peak 42,000)
Private Equity Ownership (Bain Capital & Blackstone purchased October 2006)
Corporate Headquarters – Irving, Texas,[object Object]
Apparel Crafts
Bakeware
Kids Crafts
Art Supplies
Ready-made Frames
Custom Framing
Wood
Yarn & Needlework
Seasonal
Home
Wedding
Ribbon
Scrapbooking
Floral
Impulse17% 44% 21% 18% Data as of Fiscal 2009.
Diversified North American Footprint Michaels 	1,033 Aaron Brothers	145 With stores in 49 states and 7 provinces, MIK has the broadest industry footprint Store count as of August 1, 2010
Company Mission Be a World Class Performer Inspires and enables consumers to experience creativity Leads industry growth and innovation Creates a fun and rewarding place to work that fosters meaningful connections with our communities
Strengths  Industry Leader  We are the largest arts and crafts retailer in North America Loyal customers Strongest brand name Attractive craft market fundamentals Low cost purchase – high utility Strong cash flow
Our Five Year Strategy
The Strategy Teams
Chef Duff American Girl
The Strategy Teams
Five-Year Strategy – Private Brands
The Strategy Teams We will manage our assets to deliver incremental cash flow.  We will improve our inventory turns while achieving World Class in-stocks, and aggressively manage shrink.  Through expense control and process improvement, we will manage expenses to ensure higher rates of growth in profitability.
Q1 Results (3 months ended April 30, 2010) Michaels Stores, Inc. Reports Record First Quarter Sales and Operating Income ,[object Object]
Increased traffic 1.2% through electronic marketing, bounce-back coupons and newspaper inserts

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