Michael's For Sale

Heard on the radio tonight that Michael's is being bought by 2 private equity groups for $6 billion. That's a lot of crafts!

The Washington Post has an article here:

formatting link
You might have to log in to read it. If so you can search google's news. Just put

Michael's Bain Blackstone

into the search field & it should find articles about the sale.

I wonder how that will affect the day-to-day operations of the stores? Haven't shopped at Michael's in ages, but I'm not sure I like the sound of this:

"Private equity funds, which have been buying retail assets in the past year, typically look to make a profit by purchasing a company or controlling stake, restructuring the business, cutting costs, and then selling it."

Alicia

Reply to
Alicia
Loading thread data ...

I heard it on the local news but not who bought them. They did say that it may be the end of the year because it has to be approved by stockholders. It can only make them better. HL has overtaken them by a mile from selection, value and sales.

OKC Dave

Check out my pix and crafts!

formatting link

Reply to
OKC Dave

I shop at our Michaels all the time. I really like ours. I tend to shop there more than HL. I like HL also, but I like Michaels weekly coupon better. LOL.

Reply to
Shannon

Can't remember when I was last in a Michael's. Maybe last summer when in Virginia. Used to go at least several times a year back when I did counted cross stitch or matting & framing.

HL hasn't made it to California yet, nor far enough east/north in Virginia for me to have found one when visiting there.

Alicia

Reply to
Alicia

I havent been to Michaels in at least a couple of months. HL is closer to me, and frankly has had more variety. I'm with Shannon on the coupon thing, but I do try and take advantage of HL 40% off coupon when they have it Linda

Reply to
Linda C

Personally, I hope they don't get closed down. Joann Fabrics and Beverly's here in Santa Rosa suck. Beverly's has a limited selection even with 5 isles dedicated to scrapbooking. Joann's never has anything in-stock. They seem to sell out of the two items they have before they go on sale.

We finally got a scrapbook store in the Coddingtown Mall but they are expensive and hard to get to. I hate malls. The last time I went there a single sheet of pattern paper was $1.00 each and up. Too expensive.

Michael's seems to be the only place that is well stocked, get prices right when you ring up, they have a good selection and when they have a sale they actually have the items in stock that they put on sale.

Robert

Reply to
Hebee Jeebes

Here it is the opposite. The JoAnn's here has a huge scrapbook section and they have everything in stock. Their sales are great and they put lots of good stuff on clearance. They accept Michaels and AC Moore coupons and they run sizzix at 50% off quite often. The Michael's here really sucks, they have the same things all the time, their prices are higher than AC Moore and JoAnn and whenever they have a coupon they put all the expensive things on sale. You can only see the pictures of the sizzix, you have to find someone to go in the back and see if they have the die (they say it deters shoplifting.......I'm sure shoplifters are flocking to Michael's by the busload just to steal sizzix dies) They won't accept AC Moore or JoAnn coupons anymore either, they only have about 150 different papers and they rarely change so Michaels is no longer one of my weekly scrap shopping stops.

Reply to
Scout Lady

Interesting. Yah, I can see shoplifters arriving by the busload. Kind of a funny mental picture if you think about.

"Hey, Beth I think its time to rent the bus and make another pass at Michaels. I need some new Sizzix. What do you say?"

"Sounds great to me Gurdy. I talked with the women at the senior center and they are very interested. They are a little concerned about out running the security and employees with their walkers. But, just told them to grab some eyelets and start throwing."

"Yah, those eyelets get under your shoes and your going down. Not to mention a couple of good shots in the eye. Those poor suckers won't know what hit them. Aye Beth?"

Then they bust out laughing giving each other the high five.

:)

Robert

Reply to
Hebee Jeebes

Michaels is the same by me. They have the same stuff all the time. I just popped in there the other day to see if they had brown eyelets. Nope. Same paper every time I go in. I think about 10 out of a whole aisle with racks gets changed every now and then. Same supplies, same stamps. I go when I have a 40% off coupon and I'm finding it harder and harder to use as I have anything interesting that they have.

Reply to
King's Crown

Reply to
Hilda

Reply to
Luna

LOL. The weird part is they put the cricut cartridges on the shelf and I don't see much difference between trying to conceal a red sizzix die from a cricut cartridge box! One cricut cartridge is more valuable on ebay than more than a half a dozen sizzixs!

Reply to
Scout Lady

I think those who steal will steal anything that isn't nailed down (and even sometimes when it is). I guess it is because if I were going to shoplift it would have to be for something a bit more rewarding than a sizzix pig die LOL.

Reply to
Scout Lady

You'd be surprised. People steal the weirdest things, for the weirdest reasons, and high price isn't always one of them. We had to lock up the airbrush stuff, sure, that stuff is pricey. But, we also had to lock up the $1 bandanas and the $5 t-shirts. And we had this one guy who would come in every couple of months (I was new so I didn't know) and gather up a whole bunch of truly random crap (yarn, fake flowers, clay, pencils, kids' crafts, whatever) and then try to pay for everything with a bad check. God knows why.

It's not always about not being able to afford something, I'd say it's not even usually about that, but rather about the thrill, or having a mental problem, or being angry with the store for some reason or another. I have no idea why people were stealing the sizzix stuff enough to justify locking it up, but stores don't do that without a good reason as it can hurt sales, so there must have been enough thefts to justify it. Statistically, most adult shoplifters are women, and statistically most scrapbookers are women, so I guess maybe that's why.

Also, I bet it's easier to tell when the dies have been stolen, since it's not like a bin of yarn or a stack of paper that you may never see the bottom of in order to know that some is missing.

Reply to
Luna

I'm with you roberta our JoAnn's is terrible. They are an older store and only one row for scrapping supplies. One thing I wish for Michaels and HL is that they get the new sizzix in. All they carry is the older ones.

Reply to
Shannon

An amazing amount of Sizzlets would disappear at the Michaels here. My guess would be a fair amount of the shoplifted stuff gets sold online or at flea markets and yardsales, if you have nothing invested, even a couple of dollars is a profit. Alot of it is returned to other retailers, hoping to get cash or gift cards that can also be resold.

Denise

Reply to
<Cymbal>

HL ere is great I guess because the distribution center and all is here. the only time I go to michael's anymore is to see if they have something I need like a particular glue only because they are close. Then 9 out of

10 times they don't have it, are out or something. GRR!!

We had two Joann's here in town, but the better one that had stuff sold out two years ago. the one that is left absolutely sucks.

I love Jann's back east and the one in Amarillo where April goes is great. AC Moore is by far my store of choice when I get back east.

WOW Robert $1.00 a sheet for plain ole everyday paper!! You are right that is robbery - LOL! That is like the one lss here in town in the snooty part of town. I ain't been there in 2 or 3 years because of their prices. i went to my fav one up north and had not been in since Christmas and the owner remembered me. She is that way. She carries a lot of new stuff but also keeps on hand older paper that sells well and she can still get it.

So I guess like they say, all is well in a perfect world - LOL!!!

OKC Dave

Check out my pix and crafts!

formatting link

Reply to
OKC Dave

My girlfriend was the east coast manager for a chain of womens clothing stores. She said more stuff is stolen by employees than shoplifters.

Reply to
Scout Lady

My Aunt (she's dead now) used to work at K-Mart with her boy friend. Steeling at night while cleaning took care of a lot of birthdays and christmas's for them.

Robert

Reply to
Hebee Jeebes

InspirePoint website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.