Michaels Stores beats by $0.01, reports revs in-line; guides Q4 EPS :
- Reports Q3 (Oct) earnings of $0.37 per share, $0.01 better than the Capital IQ Consensus of $0.36; revenues rose 3.4% year/year to $1.17 bln vs the $1.17 bln Capital IQ Consensus. Comparable store sales increased by 1.5% or 3.1% on a constant currency basis.
- Co issues in-line guidance for Q4, sees EPS of $0.82-0.85 vs. $0.85 Capital IQ Consensus Estimate. Sees fourth quarter comparable store sales growth of 0.5% to 1.5% or 1.9% to 2.9% on a constant currency basis, operating income of $308 to $319 million.
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