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MIK - Value Investors: Buy Sell Or Hold For The Michaels Companies?
The Michaels Companies Inc.
Although the S&P (SPY) climbed back to all-time highs a few weeks ago, The Michaels Companies (MIK) has plunged over the last months. The rising tide did not lift all boats. Despite this significant drop, we don't plan to initiate a long position on MIK anytime soon. And we will explain why in the next paragraphs.
The Business
MIK is North America's largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for makers and do-it-yourself home decorators. It owns and operates more than 1,200 stores in 49 states and Canada.