Michaels Companies Inc : The Michaels Companies announces second quarter fiscal 2016 financial results . Q2 earnings per share $0.17 . Q2 earnings per share view $0.17 -- Thomson Reuters I/B/E/S . Q2 operating earnings per share $0.17 . Sees Q3 2016 adjusted earnings per share $0.42 to $0.44 . Sees FY 2016 adjusted earnings per share $1.92 to $1.98 . Q3 earnings per share view $0.42 -- Thomson Reuters I/B/E/S . Sees FY comparable store sales to increase 1.0 pct to 1.5 pct . Sees FY capital expenditures of between $125 million and $135 million . Sees Q3 comparable store sales growth of 0.5 pct to 1.5 pct .Says inventory at end of Q2 increased $71.7 million, or 6.7 pct, to $1.15 billion.