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Thread: Is Michael's having

  1. #1
    Super Member JUNEC's Avatar
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    financial problems? I have never had so many 1 day - 50% off sales, as I have gotten in the last couple of weeks. Too bad they don't really carry that many items for quilting

  2. #2
    Super Member TonnieLoree's Avatar
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    I think it's a seasonal sale. Making room for Summer items, and possibly already gearing up for fall. Please, consider what you say because this is how rumors get started. :-) I used to work for Michaels, and we started decorating for Christmas the end of August. Sad. By the time the holiday actually came around the employees were ready to lynch the elves and bbq the reindeer.

  3. #3
    Super Member Lori S's Avatar
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    They are no longer a publicly traded company so any info is speculation ... but it was widely thought that they were on shaky ground over a year ago and I don't think they have gotten on any firmer footing.
    They have been experimenting with different marketing statigies for a while. They used to have a 40 percent coupon every week in the flyer in the Sunday paper, then they stopped that and it went to about once a month... and now they are back with more flyers and more coupons. It is typical of them to increase the coupons just before a holiday to attract as much of the holiday spending $$ . With Easter coming ... it may be such a strategy. Did you notice Jo Anns has more coupons?
    All that being said ... there are never many cars in the parking lots at the Michaels in my area.

  4. #4
    Swap Hosts Krystyna's Avatar
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    I wouldn't be surprised. Nearly everyone is on shaky ground these days. I did, however, snag about 100 cotton poly t-shirts for $2 each in very yummy colors. Decorating with my embroidery machine.

  5. #5
    Senior Member CompulsiveQuilter's Avatar
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    I work at Michael's and we get abbreviated financial reports (it's not a publicly-traded company and these could be completely made-up), but sales are up across the board all year this year. They're expanding at a record rate, opening about 90 stores a year, and now going into Canada and Puerto Rico. The company that bought them out was a "flip this house" kind of company ... and they have flipped it good! Michaels is in good shape - and much better shape than Joann's (used to work there too) and their debt is unbelievable, company-wide. The stock was tanking when they got bought out. Yes, less newspaper advertising for Michaels (everybody is cutting back on that; readership is not there anymore). Michaels, and everybody, is focusing on e-mail signups to get coupons there.

  6. #6
    Super Member knlsmith's Avatar
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    I love getting my swarovski hot fix crystal when they are on sale at michaels. And its just a door down from one of the joann's I go to.

  7. #7
    Super Member knlsmith's Avatar
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    Quote Originally Posted by CompulsiveQuilter
    I work at Michael's and we get abbreviated financial reports (it's not a publicly-traded company and these could be completely made-up), but sales are up across the board all year this year. They're expanding at a record rate, opening about 90 stores a year, and now going into Canada and Puerto Rico. The company that bought them out was a "flip this house" kind of company ... and they have flipped it good! Michaels is in good shape - and much better shape than Joann's (used to work there too) and their debt is unbelievable, company-wide. The stock was tanking when they got bought out. Yes, less newspaper advertising for Michaels (everybody is cutting back on that; readership is not there anymore). Michaels, and everybody, is focusing on e-mail signups to get coupons there.
    I see you're from K-ville. My sis lives in Coalfield. I've been to the one in west K-ville when visiting her. She goes all the time. Got me started on jetmax storage. Great for my quilting stuff. She's the Cricut queen! :)

  8. #8
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    I think stores are having more sales to try and draw customers in since the majority of the people are spending less on the " I want items " than on the " I need items ".

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