Michaels reports Q1 adjusted EPS 39c, consensus 38c
Reports Q1 revenue $1.16B, consensus $1.15B. Comparable store sales increased 0.4% due to an increase in average ticket, partially offset by a decrease in customer transactions in Q1. "Our first quarter results were in-line with our expectations, and our team is executing well against our plans to make it easier for customers to bring their creativity to life," said Chuck Rubin, chairman and CEO. "We continue to operate from a position of financial strength, as the industry leader with healthy operating margins, strong cash flows and high returns on invested capital, and we remain committed to leveraging these strengths to accelerate key initiatives in fiscal 2018 to drive future sales and earnings growth."