The Michaels Companies to Discuss Maker Strategy and Driving Sustainable Long-Term Growth
September 17 2020 - 8:37AM
Business Wire
The Michaels Companies, Inc. (NASDAQ: MIK) will host its 2020
Virtual Investor Day on Thursday, September 24, 2020. This event
will provide an overview of the Company’s strategic plan, including
an update on the Company’s Maker Strategy, expanded market
opportunities with our Makers, and a financial overview. The event
will be hosted by Chief Executive Officer, Ashley Buchanan and
other members of the Michaels executive team. Upon the conclusion
of the executive presentations, the Company will host a live
question and answer session.
The Company’s discussion will focus on Michaels’ ongoing efforts
to execute its Maker Strategy, underpinned by three key
pillars:
- Strengthening the Company’s retail foundation;
- Modernizing the omnichannel experience for Makers; and
- Re-establishing Michaels as the expert brand for Makers.
Michaels’ Maker Strategy and its key initiatives are intended to
create a clear path for sustainable long-term sales and EPS growth
as well as strong free cash flow generation. Management will
provide further details around early successes and long-term
financial targets, as well as the Company’s disciplined capital
allocation strategy during the event.
Management will also discuss the Company’s longer-term strategy
to transform into playing a central role in an integrated ecosystem
for the broader Maker community, becoming the go-to source for
inspiration, education, making, sharing, and selling of handmade
goods. Through extensive research, Michaels has identified a
sizable market opportunity, which presents the Company with a new
phase of growth opportunity in the coming years as Michaels
increasingly connects Makers, Content, Commerce, and Community.
The live event will begin at 8:00 a.m. Central Time (9:00 a.m.
Eastern Time). The event may be accessed through the Investor
Relations section of the Michaels website at
https://investors.michaels.com. Presentation materials and an
archived replay will be available on the website shortly after the
event concludes.
The Michaels Companies Virtual Analyst Day
- When: Thursday, September 24, 2020
- Time: 8:00 a.m. CT (9:00 a.m. ET)
- Webcast: https://investors.michaels.com; replay will also be
archived on this website
- Those interested in participating in the day, are invited to
pre-register via the link available on
https://investors.michaels.com
For additional information, please feel free to contact Investor
Relations at investorrelations@michaels.com.
About The Michaels Companies, Inc.:
The Michaels Companies, Inc. is North America's largest
specialty provider of arts, crafts, framing, floral, wall décor,
and seasonal merchandise for Makers and do-it-yourself home
decorators. The Company operates more than 1,275 Michaels stores in
49 states and Canada. Additionally, the Company serves customers
through digital platforms including Michaels.com and
Canada.michaels.com. The Michaels Companies, Inc., also owns
Artistree, a manufacturer of high-quality custom and specialty
framing merchandise. For a list of store locations or to shop
online, visit www.michaels.com or download the Michaels app.
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements. Such statements involve a number of risks,
uncertainties and other factors, including the ability to
consummate the offering on the terms described or at all and
potential changes in market conditions, which could cause actual
results to differ materially. There can be no assurance that the
Issuer will be able to complete the proposed offering on the
anticipated terms, or at all. You should not place undue reliance
on these forward-looking statements, which apply only as of the
date of this news release. Other risks and uncertainties are more
fully described in the Company’s filings with the Securities and
Exchange Commission, including the “Risk Factors’ Section of the
Company’s Annual Report on Form 10-K for the fiscal year ended
February 1, 2020 and Quarterly Reports on Form 10-Q for the
quarters ended May 2, 2020 and August 1, 2020. We intend these
forward-looking statements to speak only as of the time of this
release and do not undertake to update or revise them as more
information becomes available, except as otherwise required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200917005507/en/
Investor Contact: Jim Mathias 972.409.1393
investorrelations@michaels.com or Financial Media Contact:
ICR, Inc. Jessica Liddell/ Julia Young 203.682.8200
michaels@icrinc.com
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