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