Michaels Stores (MIK) reported earnings Tue 7 June 2016 (b/o)

** charts before earnings **

 

** charts after earnings **

 

** 6 weeks later  **

Michaels Stores beats by $0.01, reports revs in-line with comps below guidance; guides Q2 EPS below consensus; guides FY17 EPS in-line, reaffirms FY17 rev, comp guidance; CFO Sonsteby becomes Vice Chairman, searching for new CFO :

• Reports Q1 (Apr) earnings of $0.36 per share, $0.01 better than the Capital IQ Consensus of $0.35; revenues rose 7.5% year/year to $1.16 bln vs the $1.17 bln Capital IQ Consensus.
  • Comps +0.9% vs. +1.9-2.4% guidance.
• Co issues downside guidance for Q2, sees EPS of $0.16-0.18 vs. $0.21 Capital IQ Consensus; comps +0.4-1.4%.
• Co issues guidance for FY17, raises EPS to $1.89-1.97 from $1.88-1.96 vs. $1.95 Capital IQ Consensus Estimate; reaffirms FY17 revs +8-9% to ~$5.31-5.35 bln vs. $5.34 bln Capital IQ Consensus; reaffirms comps +2.2-2.7%.