IRVING, Texas, June 22 /PRNewswire-FirstCall/ -- Michaels Stores, Inc.
(NYSE: MIK) announced today that on Thursday, June 23, 2005 Michael Rouleau,
President and Chief Executive Officer, and Jeffrey Boyer, Executive Vice
President and Chief Financial Officer, will be presenting at the William Blair
& Company 25th Annual Growth Stock Conference in Chicago. This live
presentation can be accessed through the company's website at
http://www.michaels.com beginning at 10:30 a.m. Central Time.
The Company plans to release its 2005 second quarter sales results on
Thursday, August 4, 2005, at 6:30 a.m. CT and its 2005 second quarter earnings
results on Wednesday, August 24, 2005 at 4:00 p.m. CT. Any interested party
may view the Company's press releases at http://www.michaels.com .
Michaels Stores, Inc. is the world's largest specialty retailer of arts,
crafts, framing, floral, wall dicor, and seasonal merchandise for the hobbyist
and do-it-yourself home decorator. As of June 22, 2005, the Company owns and
operates 864 Michaels stores in 48 states and Canada, 165 Aaron Brothers
stores, ten Recollections stores, and four Star Wholesale operations.
This document contains forward-looking statements that reflect our plans,
estimates, and beliefs. Any statements contained herein (including, but not
limited to, statements to the effect that Michaels or its management
"anticipates," "plans," "estimates," "expects," "believes," and other similar
expressions) that are not statements of historical fact should be considered
forward-looking statements and should be read in conjunction with our
consolidated financial statements and related notes in our Annual Report on
Form 10-K for the fiscal year ended January 29, 2005, and in our Quarterly
Reports on Form 10-Q for the quarters ended July 31, 2004, October 30, 2004
and April 30, 2005. Specific examples of forward-looking statements include,
but are not limited to, forecasts of same-store sales growth, margin
performance, and diluted earnings per share. Our actual results could differ
materially from those discussed in these forward-looking statements. Factors
that could cause or contribute to such differences include, but are not
limited to: our ability to remain competitive in the areas of merchandise
quality, price, breadth of selection, customer service, and convenience; our
ability to anticipate and/or react to changes in customer demand; changes in
consumer confidence; unexpected consumer responses to changes in promotional
programs; unusual weather conditions; the execution and management of our
store growth and the availability of acceptable real estate locations for new
store openings; the effective maintenance of our perpetual inventory and
automated replenishment systems and related impacts to inventory levels;
delays in the receipt of merchandise ordered from our suppliers due to delays
in connection with either the manufacture or shipment of such merchandise;
transportation delays (including dock strikes and other work stoppages);
changes in political, economic, and social conditions; commodity cost
increases, currency fluctuations, and changes in import duties; our ability to
maintain the security of electronic and other confidential information;
financial difficulties of any of our insurance providers, key vendors, or
suppliers; and other factors as set forth in our Annual Report on Form 10-K
for the fiscal year ended January 29, 2005, particularly in "Critical
Accounting Policies and Estimates" and "Risk Factors," and in our other
Securities and Exchange Commission filings. We intend these forward-looking
statements to speak only as of the time of this release and do not undertake
to update or revise them as more information becomes available.
This press release is also available on the Michaels Stores, Inc. website
(http://www.michaels.com ).
SOURCE Michaels Stores, Inc.
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http://www.michaels.com
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Company News On-Call:
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CONTACT:
Jeffrey N. Boyer, Executive Vice President -
Chief Financial Officer, +1-972-409-1581, or Thomas Melito,
Assistant Treasurer, +1-972-409-1527, both of Michaels Stores,
Inc.
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