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Michaels

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Michaels

The Michaels Companies, Inc. is an American company that is one of North America's largest provider of arts, crafts, framing, floral and wall décor, and merchandise for makers and do-it-yourself home decorators. The company was founded by Michael J. Dupey in Dallas, Texas. The Michaels Companies' corporate headquarters are located in Irving, Texas. The Michaels Companies, Inc. owns and operates more than 1,250 Michaels stores.

In 1973, Dallas businessman Michael J. Dupey founded Michaels in Dallas, Texas. In 1982, Dallas businessman Sam Wyly bought a controlling interest in the company, when there were 11 outlets with annual revenues around $10 million. After the sale, Dupey founded MJ Designs, which was later bought out by The Michaels Companies.

The Michaels Companies, Inc.'s retail brands include over 1,200 Michaels Stores; Aaron Brothers Custom Framing store-within-a-store; Artistree, a manufacturer of high quality custom and specialty framing merchandise, and Darice, a wholesale distributor to the craft, gift and décor industry. The Michaels Companies also produce fifteen private brands including Recollections, Studio Decor, Bead Landing, Creatology and Ashland. The corporate headquarters are located in Irving, Texas.

Michaels Cos. has named Mark Cosby to be its chief executive officer, ending a search conducted while he had been interim CEO since February. Cosby has also been on the board since earlier this year and came to the Irving-based arts and crafts retailer from Office Depot, where he was president. His experience includes senior executive jobs at CVS Caremark and Macy’s. Cosby said the Michaels chain of 1,260 stores in the U.S. and Canada has completed an “exhaustive strategy review” that persuaded him there’s more “untapped potential for future growth.“We are confident Mark is the right executive to lead Michaels’ transformation efforts,” said James Quella, Michaels chairman. ”Under his leadership, the company is well positioned for future growth by capitalizing on the potential of our digital strategy and giving the maker community a home that fosters the power of their creativity.”

The Michaels Companies, Inc. (NASDAQ: MIK), today announces the official launch of its new e-commerce website designed to provide online shoppers in Canada with a frictionless digital shopping experience. From the aisles of Michaels, to the click of a mouse, customers can for the first time browse and shop North America’s largest selection of arts, crafts, framing, floral, wall décor and seasonal merchandise for the maker, all online, 24 hours a day.

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