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MICHAELS SALES RISE 9 PERCENT IN JANUARY PUTTING FY91 AT RECORD $411 MILLION

 MICHAELS SALES RISE 9 PERCENT IN JANUARY PUTTING
 FY91 AT RECORD $411 MILLION
 IRVING, Texas, Feb. 5 /PRNewswire/ -- Michaels Stores, Inc. (NASDAQ: MIKE) today reported January sales were $30.6 million, an increase of 9.3 percent over the same period last year. Comparable store sales increased 7.2 percent during the same period.
 For the fourth quarter of fiscal 1991, which ended Feb. 2, 1992, sales increased 15 percent to $144.2 million from $125.5 million the prior year, and comparable store sales increased 13 percent over 1990.
 Total sales for fiscal 1991 increased 15 percent to $410.9 million from $357.0 million during the same 52-week period of the prior year. Comparable store sales for the year increased 9.1 percent.
 In accordance with its fiscal reporting procedures, Michaels Stores, Inc. reported sales for 53 weeks in 1990, with the additional week included as a fifth week in December. Period to period comparisons for the two years reflect comparable weekly periods.
 The nation's leading retailer of arts and crafts, Michaels Stores, Inc. offers a wide selection of picture framing materials, silk and dried flowers, hobby and art supplies, creative crafts, and party, seasonal and holiday merchandise. The company owns and operates 140 stores in 19 primarily Southern states, from California to the Carolinas.
 -0- 2/5/92
 /CONTACT: Don Morris, executive vice president and chief financial officer of Michaels Stores, 214-580-8242/
 (MIKE) CO: Michaels Stores, Inc. ST: Texas IN: REA SU:


PS -- NY088 -- 7439 02/05/92 18:48 EST
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Publication:PR Newswire
Date:Feb 5, 1992
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