Retailers to Recall Lead-Based Jewelry Nov 22, 2007
The recalled merchandise involves 205,000 pieces sold by Family Dollar Stores Inc., 200,000 pieces sold by Michaels Stores Inc., 43,000 charm bracelets and tack pin sets sold by Big Lots Inc. and 45,000 stretchable bracelets imported by Cherrydale Fundraising LLC, 10,400 necklaces and bracelets manufactured by Colossal Jewelry & Accessories Inc., and 4,500 necklace and earring sets made by La Femme NY 2 Inc., officials announced. . (Herald Sun)
New York Stores to End Sales Nov 22, 2007
Michaels Stores Inc., Big Lots Inc. and several smaller retailers have agreed with New York state authorities to discontinue the sale of children's jewelry found to contain dangerous levels of lead. The move comes as product safety has been in the spotlight in the wake of high-profile recalls of pet food, toothpaste, snacks and most recently toys. (Wall Street Journal)
School supplies recalled for lead Nov 22, 2007
Gen. Andrew Cuomo announced Wednesday that Big Lots, Michaels stores and other retailers agreed to stop sales of children's jewelry found to contain dangerous levels of lead as part of settlements with New York. The settlements came after an investigation found high levels of lead in children's jewelry, Cuomo's office said. (Los Angeles Times)
Barbie Gets Lead Poisoning in YouTube Spoof Nov 22, 2007
The tainted jewelry was sold at Family Dollar Stores, Michaels Stores and other chains. Curious George plush dolls and a game called Aqua Dots were recalled earlier this month. (Fox News)
California sues 20 companies for toys with unlawful amounts of lead Nov 21, 2007
Among others named in the state's lawsuit are Fisher-Price Inc.; Michaels Stores Inc.; Sears, Roebuck and Co.; Costco Wholesale Corp.; Eveready Battery Co.; Kmart Corp.; and Marvel Entertainment. Representatives of some of the companies say they haven't yet seen the lawsuit. (San Francisco Chronicle)
2 NY, National Retailers To Remove Lead-Based Jewelry For Kids Nov 21, 2007
Big Lots, a discount retailer, and Michaels Stores Inc., a major crafts store, will immediately discontinue sales of the jewelry at its stores across the country. Other regional retailers including Pure Allure of Oceanside, Calif. (WNBC.com, NY)
California sues firms over lead-tainted toys Nov 20, 2007
Companies named in the suit include: Mattel, Fisher-Price, Michaels Stores, Toys R Us, Wal-Mart, Target, Sears, KB Toys, Costco Wholesale, A&A Global Industries, RC2 Corporation, Eveready Battery Company, Kids II, Kmart, Marvel Entertainment and Toy Investments. A spokeswoman for Mattel welcomed the lawsuit, and said the toy giant had co-operated with authorities continuously. (Yahoo! Asia News)
Michaels closing two of its concept businesses Oct 18, 2007
The company operates 955 Michaels stores in 49 states and Canada, 168 Aaron Brothers stores, 11 Recollections stores and four Star Wholesale operations. Michaels Stores was taken private in 2006 when it was bought by investment firms and The. (Dallas Business Journal, TX)
Guitar Center, Inc. Announces Completion of $2.1 Billion Merger with Affiliates of Bain Capital Oct 10, 2007
Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 250 companies around the world, including such leading retailers and consumer companies as Toys "R" Us, Michaels Stores, Burger King, Warner Music Group, Burlington Coat Factory, Dunkin' Brands, Shopper's Drug Mart, Dollarama and Staples. Headquartered in Boston, Bain Capital has offices in New York, London, Munich, Hong Kong, Shanghai, and Tokyo. (Yahoo! Wire -- Entertainment News)
Bain, China's Huawei to Buy 3Com for $2.2B Oct 1, 2007
Its purchases have included Toys "R" Us, Michaels Stores (MIK), Burger King (BKC), Warner Music Group (WMG), Burlington Coat Factory, Dunkin' Brands and Staples (SPLS). It is also a one-third owner of Home Depot Inc.'s (HD) former supply business. (SmartMoney)
Martha Stewart Gets Makeover at Kmart Sep 19, 2007
While Kmart executives declined to comment on recent sales of Martha Stewart goods, Martha Stewart executives said last month that sales declines at Kmart have offset gains of licensed products at other retailers including Michaels Stores Inc. (MIK) and Lowe's Cos ... (LOW), (M), Michaels Stores Inc. (MIK), Martha Stewart Living Omnimedia Inc. (MSO), (SHLD), (US812350)). (SmartMoney)
Identity thieves tried to cash in on Forbes 400 rich list Aug 18, 2007
NEW YORK City prosecutors have charged five men with running an identity-theft ring that targeted billionaires on the Forbes 400 list, including Charles Wyly, the former chairman of Michaels Stores. The men were charged with stealing $US1. (Sydney Morning Herald)
NYC prosecutors: Texas billionaire target of identity theft ring Aug 17, 2007
Wyly, 73, and his brother, Sam, headed the world's largest arts and crafts chain, Michaels Stores Inc., before it was sold last year for $6 billion. An attorney for Wyly did not immediately respond to a phone message. (San Diego Union-Tribune -- Business)
Shoe Pavilion kicks up Austin presence Aug 10, 2007
The roughly 128,000-square-foot Great Hills Station is anchored by Bed Bath & Beyond and Michaels Stores, and includes restaurants such as Truluck's and Jason's Deli. Andrew Scroggie, Terri Twomey and Lance Morris in the Austin office of The represented the landlord of Great Hills Station. (Austin Business Journal, TX)
Credit Crunch This! Aug 9, 2007
Blackstone has been raising the fund for more than two years and has invested the cash in a wave of buyout deals including Nielson Co., Hilton Hotels, Freescale Semiconductor, Biomet and Michaels Stores. The California State Teachers' Retirement System, one of the largest pension funds in the nation, gave Blackstone a whopping 1 billion to invest. (New York Post -- Business)
Blackstone Private Equity Fund Closes on $21.7 Billion Aug 8, 2007
Investments with a total enterprise value of approximately $84 billion, have already been committed to BCP V, and include Nielsen Company, Michaels Stores, Alliance Data Systems, Biomet, Freescale Semiconductor, Hilton Hotels, and Center Parcs. The combined equity participation in all transactions committed to date already accounts for two-thirds of the fund's available capital. (Canada Newswire)
Workers dig in at site of new shopping center Aug 4, 2007
We re close, said Craig Clark, the California developer who s been trying to get the project at Ninth Street and Spruce Avenue off the ground for years only to see potential tenants such as Michaels Stores and Applebee s Neighborhood Grill pt for other sites nearby. We re shooting to start by the end of summer, Clark said. (Corvallis Gazette Times, OR)
Wilton Industries buyout financing confronts retail taint, inhospitable primary market Aug 2, 2007
Many asset managers already have exposure to the recent LBO financing for crafts products retailer Michaels Stores, further curbing appetites for the Wilton deal, added another buysider. At 6. (FT.com -- Markets)
Martha Stewart 2Q loss widens from a year ago on 1-time costs Aug 2, 2007
Last quarter, the company launched its Martha Stewart Crafts line at more than 900 Michaels Stores Inc., and on marthastewartcrafts. com. (San Diego Union-Tribune -- Business)
Hilton Hotels agrees to sale Jul 4, 2007
Hilton would join a Blackstone stable of companies that includes retailer Michaels Stores Inc., computer-chip firm Freescale Semiconductor and sock-maker Gold Toe-Moretz. Buyout firms such as Blackstone are funded by big-money investors such as pension funds and wealthy families. (Sunspot.net -- Business)
Movers: Companies in the news Jun 28, 2007
Shares of Banca Popolare di Milano rose sharply Wednesday after the northern Italian bank scrapped its proposed 5. 65 billion takeover of Banca Popolare dell'Emilia Romagna. (International Herald Tribune -- Business Asia)
Blackstone Up Double Digits in Debut Jun 23, 2007
Blackstone's portfolio of companies includes ownership or significant stakes in such well known names as Cadbury Schweppes Celanese, Deutsche Telekom, Freescale Semiconductor, Houghton Mifflin, Michaels Stores, TRW Automotive, Universal Orlando, and Vanguard Health Systems. The company had $2. (SmartMoney)
Blackstone IPO raises $4.13B Jun 22, 2007
Blackstone also owns Michaels Stores and Pinnacle Foods, maker of Duncan Hines and Vlasic pickles brands. Investor interest in the offering appeared to come mainly from hedge funds and from abroad, with several mutual fund investors saying that they are going to wait out the rush. (CNN -- International)
Rag Shops closing doors for good Jun 20, 2007
At the same time, the chain was losing ground to other competitors, such as Jo-Ann Stores Inc. and Michaels Stores Inc.. It was enough distress to help put Rag Shop on the radar of Sun Capital Partners, a Boca Raton-based private equity firm that buys and reinvigorates flagging businesses. (The Palm Beach Post)
Barneys Could Be Sold to Dubai Firm Jun 14, 2007
In the last several years, financial firms rather than retail rivals have bought nearly a dozen chains, including Lord & Taylor, Toys ;R; Us, Neiman Marcus, Michaels Stores and Sports Authority. Barneys ; long coveted by financial barons, competitors and private equity groups ; has weathered a series of ownership changes. (Shoals TimesDaily)
Staggering windfall for Blackstone elite Jun 12, 2007
And Blackstone is among the most high-profile and aggressive of the private equity buyers, snapping up such huge assets as Equity Office Properties Trust, Freescale Semiconductor and Michaels Stores. In March, Blackstone filed to take 10 percent of the firm public in an IPO worth $4 billion. (San Diego Union-Tribune)
Blackstone officials stand to win big with planned IPO Jun 12, 2007
Among the companies it controls or manages: Equity Office Properties Trust, Freescale Semiconductor, Nielsen, Travelport and Michaels Stores. Blackstone typically buys or invests in companies that Schwarzman believes can be better managed, and sells those companies after improving their operations, often within five years. (USA Today -- Money)
Blackstone founders Schwarzman and Peterson to net $2.33 billion in IPO Jun 11, 2007
And Blackstone is among the most high-profile and aggressive among the private equity buyers, snapping up such huge assets as Equity Office Properties Trust, Freescale Semiconductor, and Michaels Stores. Blackstone said it would pay President Hamilton James at least $147. (International Herald Tribune -- Business)
Michaels crafts chain names former Safeway exec Cornell as CEO Jun 5, 2007
DALLAS Crafts retailer Michaels Stores Inc. said Monday it hired a former Safeway Inc. and PepsiCo Inc. executive as its new CEO.. Brian C. Cornell, 48, was executive vice president and chief marketing officer at Safeway, where his duties included merchandising and marketing. (San Diego Union-Tribune -- Business)
Franchise bid to fill scrapbooking niche May 27, 2007
But Annie's Scrapbook Garden will need to differentiate itself from discount chains like Hobby Lobby, MJDesigns and Michaels Stores Inc., said Meyers, vice president of Columbus, Ohio-based Retail Forward. "Retailing mixed with entertainment is sort of a trend and makes a lot of sense in that category," he said. (Dallas Business Journal, TX)
Buy American! May 26, 2007
On May 20, the Chinese government said that it was paying $3 billion for just less than 10% of the Blackstone Group, the U.S.'s leading private-equity firm, which owns everything from Freescale Semiconductor to Michaels Stores. The next day, Saudi Basic Industries Corp. said it was buying General Electric's plastics division--the storied operation based in Pittsfield, Mass. (Time.com)
In strategy shift, China to buy a stake in Blackstone May 21, 2007
Blackstone which has led multibillion-dollar buyouts of Equity Office Properties, Freescale Semiconductor and Michaels Stores manages a $15. 6 billion buyout fund, the second-largest in the industry. (International Herald Tribune)
China to invest in U.S. private equity group May 21, 2007
Blackstone - which has led multibillion-dollar buyouts of Equity Office Properties, Freescale Semiconductor and Michaels Stores - manages a $15. 6 billion buyout fund. (International Herald Tribune -- Business Asia)
AROUND THE HOUSE By Susan Fornoff May 13, 2007
The domestic diva has partnered with Michaels Stores to create a one-stop, one-aisle destination for everything needed to wrap gifts, package food, assemble scrapbooks, design stationery and more, the Martha way. We've had time to make use of Martha's furniture, flowers, magazine and home goods; finally this month, all the ribbons, stickers, stamps and tools needed to do her projects land in the stores. (San Francisco Chronicle)
Costco is planning to sell Martha Stewart food line May 5, 2007
Last month, the company said it will sell a line of crafts products at more than 900 Michaels Stores Inc. It's also signed agreements with Federated Department Stores Inc., KB Home and Lowe's Cos. Costco, the largest U.S. warehouse club chain, operates 508 units in North America, Asia and the United Kingdom. (Orlando Sentinel -- Business)
Ask Matt about stocks Apr 5, 2007
An IPO would let smaller, individual investors get a piece of the company that has been busy buying stakes in companies such as Biomet , Freescale Semiconductor and Michaels Stores. And so far, the company is turning a tidy profit from its business of buying or advising in the sale of companies and then turning them around for a sale. (USA Today -- Money)
Michaels in Nampa offers craft, hobby supplies Mar 30, 2007
Michaels stores are located in 48 U.S. states and Canada. Each one carries roughly 40,000 items, according to the company s Web site. (Nampa Idaho Press-Tribune, ID)
Blackstone says it plans to go public Mar 23, 2007
Blackstone which has led multibillion-dollar buyouts of Equity Office Properties, Freescale Semiconductor and Michaels Stores will be the first of the major private equity firms to go public. The $4 billion offering is a role reversal for an industry that has long espoused the benefits of private ownership and has acted as a haven for public companies seeking to escape the pressure of meeting quarterly earnings estimates as well as the scrutiny of regulators. (International Herald Tribune -- Business)
Apollo Taking Claire's Private for $3.1B Mar 21, 2007
Michaels Stores Inc. was taken private in late 2006 by private equity firms Bain Capital and The Blackstone Group. Continued. (ABC News -- Wire)
Claire's gives not to $3.1B offer Mar 21, 2007
Claire's gives not to $3. " The Schaefer family, which owns a significant percentage of Claire's equity, agreed separately to vote its shares in favor of the deal. A telephone call to Claire's by The Associated Press was not immediately returned Tuesday evening. "We look forward to partnering with Claire's management team and employees to build on the many strengths of the company," said Peter Copses, a senior partner at Apollo. "We believe that the increased flexibility available to a private... (BusinessWeek)
Kohlberg Kravis Roberts in record retail buyout for Dollar General Mar 12, 2007
Michaels Stores agreed in June to a $6 billion buyout by Bain Capital and Blackstone Group. . (International Herald Tribune -- Business)
Companies under investigation for possible improper backdating Mar 11, 2007
Companies under investigation for possible improper options backdating - USATODAY.com. Real solutions for your real estate needs. (USA Today -- Money)
Martha Stewart Living earnings up Mar 1, 2007
Meanwhile, the company plans to launch Martha Stewart Crafts line, exclusively at Michaels Stores Inc. in the U.S. and Canada in May, with independent retailers to follow later in the year. The companys Internet division posted a 24 percent gain in sales to $5. (MSNBC -- Business)
Martha Stewart Living beats expectations for Q4 Feb 28, 2007
Meanwhile, the company plans to launch Martha Stewart Crafts line, exclusively at Michaels Stores Inc. in the U.S. and Canada in May, with independent retailers to follow later in the year. The company's Internet division posted a 24 per cent gain in sales to $5. (Globe and Mail -- Business)
Back with a bang to build its business Feb 9, 2007
Bain Capital's other acquisitions include Michaels Stores, the biggest US arts and crafts retailer, bought last year for $6 billion together with Blackstone Group; and Toys R Us, bought with Kohlberg Kravis Roberts and Vornado Realty Trust for $6. 6 billion. (Business Report, South Africa)
Stull, Stull & Brody Announces Commencement of Lawsuit Against Marvell Technology Group Ltd. for the Back-Dating of Stock Option Grants -- MRVL Jan 23, 2007
Company Applied Signal Technology, Inc. Michaels Stores, Inc. McAfee, Inc. Molex, Inc. Monster Worldwide, Inc.. Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. (Primezone Releases)
Michaels Stores Reports Holiday Performance Jan 18, 2007
Source: Michaels Stores, Inc. ... IRVING, Texas, Jan. 17 /PRNewswire/ -- Michaels Stores, Inc. today reported on holiday business performance with solid same-store sales growth and significantly improved margin performance as the Company continues its focus on improving overall profitability and further strengthening financial returns ... Domestic Michaels stores' same-store sales for the combined November and December holiday selling season were strongest in the Northeast, Southwest and... (Yahoo! Wire -- Entertainment News)
Gap likely to attract equity firm Jan 9, 2007
In the last two years, private equity firms have taken over such retailers as craft seller Michaels Stores, Burlington Coat Factory, Sports Authority and Yankee Candle (a deal that's still pending). Despite its 10 consecutive quarters of declining same-store sales, Gap generates decent cash flow and has one of the best known brands in the country. (San Francisco Chronicle -- Business)
