Dallas-based craft retailer plans as many as 15 more area sites

April 15, 1995|By a Sun Staff Writer

Michaels Stores Inc., a quickly growing, Dallas-based craft retailer, plans to open more than a dozen more stores in the Baltimore-Washington area, its real estate broker said.

The company has a Michaels Craft & Floral Warehouse store in Pasadena. It is scouting sites for as many as 15 more regional stores, Baltimore brokers Trout, Segall & Doyle said in a written statement.

Officials from Michaels and from Trout, Segall did not respond to phone calls yesterday seeking additional information.

Michaels sells dried and silk flowers, candy-making equipment, party supplies, artists' gear and frames and other craft and hobby products. The company, whose stock trades publicly on the Nasdaq stock market, had $994.6 million in sales for the fiscal year that ended Jan. 29. Profits were $35.6 million.

It has 400 stores in more than 40 states and Canada. The stores range in size from 20,000 to 40,000 square feet.

Revenue grew by 60 percent last fiscal year.

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