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MICHAELS REPORTS RECORD OCTOBER AND FIRST NINE MONTHS SALES WITH 23 PERCENT GAINS

 IRVING, Texas, Nov. 3 /PRNewswire/ -- Michaels Stores, Inc. announced that its sales in October 1993 increased 23 percent to $70,391,000 from $57,221,000 in the prior year. Same store sales for the month were even with the prior year.
 For the third quarter of 1993, sales increased 26 percent to $155.8 million from $123.3 million in the third quarter of 1992. Same store sales for the quarter increased by four percent.
 For the first nine months of fiscal 1993, sales increased 23 percent to $384.1 million from $311.1 million in the prior year. Same store sales for the first nine months increased by four percent.
 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 220 stores in 31 states and Canada.
 -0- 11/3/93
 /CONTACT: R. Don Morris, executive vice president and chief financial officer of Michaels Stores, 214-714-7100/
 (MIKE)


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

LG -- NY020 -- 9989 11/03/93 09:02 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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