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Michaels
is an arts and crafts retail chain. It currently operates more than 1040
Michaels Arts and Crafts Stores located in 49 U.S. states and in Canada. The
company owns and operates the Aaron Brothers retail chain which consists of
more than 140 stores. Michaels also produces 10 exclusive private brands
including Recollections, Studio Decor, Bead Landing, Creatology, Ashland,
Celebrate It, Art Minds, Artist's Loft, Craft Smart and Loops & Threads.
The corporate headquarters are located in Irving, Texas.
The
average Michaels store now contains 40,000 different products in 18,200 square
feet (1,700 m²) of selling space. The stores sell a selection of arts, crafts,
framing, floral, wall décor, bakeware, beads, scrapbooking and seasonal
merchandise for hobbyists and do-it-yourself home decorators.
Michaels
is the largest such chain in the United States. Competitors include Hobby
Lobby, Ben Franklin Stores, Jo-Ann Stores, AC Moore and several smaller chains.
Canadian competitors include DeSerres.
Type Private
Industry Retail
Founded Dallas, Texas, U.S. (1976)
Headquarters Irving, Texas, U.S.
Products Retail-Arts, Crafts,
Scrapbooking, Home Decor
Revenue US$4.2 Billion (2011)
Net
income
US$176
million (2011)
Owner(s) Bain Capital, Blackstone Group,
Highfields Capital Management
Employees 43,700
Website www.michaels.com
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