Aug 23 Michaels Stores Inc, North America's largest arts and crafts retailer, reported same-store sales rose 2.9 percent in the second quarter, helped by more transactions and a big sales jump in its framing services.
The retailer, majority-owned by private equity firms Blackstone Group LP and Bain Capital LP, on Thursday reported a 30 percent jump in net income to $13 million for the quarter ended July 28 on sales of $892 million. Overall sales were up 4.1 percent.
Michaels, which operates 1,079 namesake stores in North America, filed in March to list shares publicly.
Its CEO resigned last month because of a stroke. The company gave no update on the search for a new chief.
Blackstone prepares to list European warehouse firm Logicor
LONDON/FRANKFURT, Dec 9 Buyout fund Blackstone is hiring banks to prepare for an initial public offering (IPO) of its warehouse firm Logicor, several people with knowledge of the situation said.
UPDATE 2-Trump offers Goldman executive Cohn key economic post -NBC
WASHINGTON/NEW YORK, Dec 9 U.S. President-elect Donald Trump has asked senior Goldman Sachs banker Gary Cohn to coordinate economic policy across his administration, turning to Wall Street for expertise in managing the world's largest economy, NBC News reported on Friday.