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The Michaels Companies is a private retail holding company that owns Michaels, a chain of arts and crafts stores in the US and Canada. It also owns Artistree, a custom framing business, and was taken private by Apollo Global Management in 2021.
Michaels is a privately held chain of American and Canadian arts and crafts stores, founded in 1973. It is part of The Michaels Companies, which also operates Aaron Brothers, Artistree, and several private brands.
Ashley Buchanan is an American business executive and the CEO of The Michaels Companies. He previously worked at Walmart, Bank of America and Dell Computers, and is also a director of TreeHouse Foods.
Michaels Companies (MIK) is doing well, driven by store growth and omni-channel initiatives. These significantly aid its top and bottom lines, positioning it for more growth ahead.
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The arts and crafts supply retailer will reinvest its tax breaks in long-term growth ideas, starting with a simplified business model for its framing services.
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