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MICHAELS ANNOUNCES PLANS TO EXPAND INTO CANADA

 IRVING, Texas, Feb. 18 /PRNewswire/ -- Michaels Stores, Inc., the largest retailer of arts and crafts products in the United States, announced today plans to expand into Canada.
 "Our expansion into Canada is an important part of our overall expansion strategy," said Jack Bush, Michaels president and chief operating officer. "Our current plans are to open at least three stores in Canada in 1993 and to have over 20 stores in operation across Canada within five years."
 The planned Canadian operations will be headed by Annette Verschuren, with Jerry Payton and Brian McDowell. Verschuren, has 15 years experience with major Canadian companies and was most recently vice president with Imasco Limited where she had direct operating control of its 63 outlet gift store chain, the Den for Men. Jerry Payton and Brian McDowell are both nine-year veterans of Michaels in the United States with extensive merchandising and operations experience.
 The Canadian stores will offer their customers the combination of a large selection of competitively priced quality products and superior customer service that has proven so successful with Michaels customers in the United States. The Canadian stores will average 20,000 square feet and carry over 30,000 different items.
 The nation's leading retailer of arts and crafts, Michaels Stores, Inc. (NASDAQ: MIKE) offers a wide selection of picture framing materials and services, silk and dried flowers, hobby and art supplies, creative crafts, and party, seasonal and holiday merchandise. The company owns and operates 170 stores in 24 states, from California to the Carolinas.
 -0- 2/18/93
 /CONTACT: R. Don Morris, executive vice president & chief financial officer of Michaels Stores, Inc., 214-714-7100/
 (MIKE)


CO: Michaels Stores, Inc. ST: Texas IN: REA SU: ERN

LR -- NY001 -- 7678 02/18/93 08:33 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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