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Michaels (MIK) is a company which operates in a special corner of retail and while the company was treated like the wider category, shares have been performing well recently. This has happened for the right reasons as its specialty has just become quite a bit more popular as of recent.
As 2020 is such a special year, my base case starts with the 2019 numbers, a year in which Michaels was seeing some troubles as lackluster operating performance resulted in real pressure on the share price amidst a very leveraged balance sheet, in