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MICHAELS REPORTS RECORD AUGUST SALES WITH A 26 PERCENT INCREASE INCLUDING SAME STORE SALES INCREASE OF 12 PERCENT

 MICHAELS REPORTS RECORD AUGUST SALES WITH A 26 PERCENT INCREASE
 INCLUDING SAME STORE SALES INCREASE OF 12 PERCENT
 IRVING, Texas, Sept. 2 /PRNewswire/ -- Michaels Stores, Inc. (NASDAQ: MIKE) today reported sales for the month of August of $29,991,000, which represents a 26 percent increase over the prior year's sales of $23,771,000. Same store sales for the month increased by 12 percent.
 Year-to-date in fiscal 1992 the company has generated sales of $217.7 million vs. $186.8 million in the prior year, or an increase of 17 percent. Year-to-date same condition sales have increased by 10 percent.
 Management stated that the strong August sales results reflect the addition of an advertising circular and increases in sales of fall merchandise.
 The nation's leading retailer of arts and crafts, Michaels Stores, Inc. 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 161 stores in 23 states, from California to the Carolinas.
 -0- 9/2/92
 /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:


SH -- NY016 -- 5779 09/02/92 09:17 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
Words:213
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