0000912057-01-537205.txt : 20011101 0000912057-01-537205.hdr.sgml : 20011101 ACCESSION NUMBER: 0000912057-01-537205 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011031 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICHAELS STORES INC CENTRAL INDEX KEY: 0000740670 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-HOBBY, TOY & GAME SHOPS [5945] IRS NUMBER: 751943604 STATE OF INCORPORATION: DE FISCAL YEAR END: 0201 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11822 FILM NUMBER: 1771886 BUSINESS ADDRESS: STREET 1: 8000 BENT BRANCH DR STREET 2: PO BOX 619566 CITY: IRVING STATE: TX ZIP: 75063 BUSINESS PHONE: 2147147000 MAIL ADDRESS: STREET 1: PO BOX 619566 CITY: DFW STATE: TX ZIP: 75261 8-K 1 a2062271z8-k.txt 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): OCTOBER 31, 2001 MICHAELS STORES, INC. (Exact Name of Registrant as Specified in its Charter) DELAWARE 0-11822 75-1943604 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 8000 BENT BRANCH DRIVE IRVING, TEXAS 75063-6041 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (972) 409-1300 ================================================================================ ITEM 5. OTHER EVENTS. On October 31, 2001, Michaels Stores, Inc. issued a press release announcing that its Board of Directors has authorized a two-for-one common stock split in the form of a stock dividend to be paid on November 26, 2001, to stockholders of record as of the close of business on November 12, 2001. A copy of the press release is filed as Exhibit 99.1 to this Form 8-K. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits: ---------
Exhibit Number Description ------ ----------- 99.1 Press Release, dated October 31, 2001.
2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MICHAELS STORES, INC. By: /s/ Bryan M. DeCordova ------------------------------------ Name: Bryan M. DeCordova Title: Executive Vice President - Chief Financial Officer Date: October 31, 2001 3 INDEX TO EXHIBITS
Exhibit Number Description ------ ----------- 99.1 Press Release, dated October 31, 2001.
EX-99.1 3 a2062271zex-99_1.txt EXHIBIT 99.1 [MICHAELS LOGO] NEWS RELEASE Contact: Bryan M. DeCordova FOR IMMEDIATE RELEASE Executive Vice President - Chief Financial Officer (972) 409-1581 Christopher J. Holland Vice President - Finance (972) 409-1667 MICHAELS ANNOUNCES 2-FOR-1 STOCK SPLIT IRVING, Texas -October 31, 2001 - Michaels Stores, Inc. (Nasdaq: MIKE) announced today that its Board of Directors has approved a two-for-one split on its common stock which will be effected as a stock dividend. Holders of the company's common stock as of the close of business on November 12, 2001 (the record date for the stock dividend) will be entitled to one additional share for every share held at that time. The stock dividend will be paid on November 26, 2001. Charles J. Wyly, Jr., Chairman of the Board, said, "As a result of the outstanding accomplishments of our management team, led by CEO Michael Rouleau, in developing and executing strong initiatives for short and long-term growth, we confidently take this action which we believe will reward our shareholders with greater market liquidity and wider distribution." Since Charles Wyly and his brother, Sam, took Michaels public in 1984, the chain has grown from 10 to 825 stores and its stock has increased in value by over 2000%, from $2.50 per share at the IPO to $52.63 per share at the close of business on October 30, 2001. Michaels Stores, Inc. (www.michaels.com) is the world's largest retailer of arts, crafts, framing, floral, decorative wall decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The Company owns and operates 690 Michaels stores in 48 states, Canada, and Puerto Rico, 134 Aaron Brothers stores, located primarily on the West Coast, and 1 wholesale operation located in Dallas, Texas. CERTAIN STATEMENTS CONTAINED HEREIN WHICH ARE NOT HISTORICAL FACTS ARE FORWARD LOOKING STATEMENTS THAT INVOLVE RISKS AND UNCERTAINTIES, INCLUDING, BUT NOT LIMITED TO, CUSTOMER DEMAND AND TRENDS IN THE ARTS AND CRAFTS INDUSTRY, RELATED INVENTORY RISKS DUE TO SHIFTS IN CUSTOMER DEMAND, THE EFFECT OF ECONOMIC CONDITIONS, THE IMPACT OF COMPETITORS' LOCATIONS OR PRICING, THE AVAILABILITY OF ACCEPTABLE LOCATIONS FOR NEW STORES, DIFFICULTIES WITH RESPECT TO NEW INFORMATION SYSTEM TECHNOLOGIES, SUPPLY CONSTRAINTS OR DIFFICULTIES, THE RESULTS OF FINANCING EFFORTS, THE EFFECTIVENESS OF ADVERTISING STRATEGIES AND OTHER RISKS DETAILED IN THE COMPANY'S SECURITIES AND EXCHANGE COMMISSION FILINGS. This press release is available to First Call subscribers and on the Michaels Stores, Inc. web site at www.michaels.com. ------------------------------------------------- 8000 BENT BRANCH DRIVE - IRVING, TEXAS 75063 972/409-1300