Michaels Cos. Shares Trading Higher as New President, CEO Named
December 27 2019 - 12:20PM
Dow Jones News
By Stephen Nakrosis
Shares of arts and crafts retailer Michaels Cos. Inc. (MIK) rose
in heavy volume trading Friday, after the company named Walmart
Inc. (WMT) retail executive Ashley Buchanan its new president and
chief executive designate.
At 11:39 a.m. ET, the stock had gained 8.31% to trade at $6.52.
Volume topped 3.3 million shares, above the 65-day average volume
of some 2.8 million.
Michaels said Mr. Buchanan will succeed Mark Cosby as CEO on
Aril 1, 2020.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 27, 2019 12:05 ET (17:05 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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