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MICHAELS STORES REPORTS RECORD JULY AND FIRST HALF SALES WITH 22 PERCENT GAINS

 IRVING, Texas, Aug. 4 /PRNewswire/ -- Michaels Stores, Inc. (NASDAQ: MIKE) announced that its sales in July 1993 increased 22 percent to $47,226,000 from $38,850,000 in the prior year. Same store sales for the month increased by 3 percent.
 For the second quarter of 1993, sales increased 24 percent to $115.4 million from $93.4 million in the second quarter of 1992. Same store sales for the quarter increased by 5 percent.
 For the first six months of fiscal 1993, sales increased 22 percent to $228.4 million from $187.8 million in the prior year. Same store sales for the first six months increased by 3 percent.
 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 194 stores in 28 states.
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 /CONTACT: R. Don Morris, executive vice president and chief financial officer of Michaels Stores, Inc., 214-714-7100/
 (MIKE)


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

PS -- NY021 -- 9269 08/04/93 10:16 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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