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BRIEF-Michaels Companies Q3 Adjusted Earnings Per Share $0.44
November 30, 2017 / 12:29 PM / 17 days ago

BRIEF-Michaels Companies Q3 Adjusted Earnings Per Share $0.44

Nov 30 (Reuters) - Michaels Companies Inc:

* THE MICHAELS COMPANIES REPORTS RECORD THIRD QUARTER SALES AND EARNINGS PER SHARE

* Q3 ADJUSTED EARNINGS PER SHARE $0.44

* Q3 EARNINGS PER SHARE $0.44

* Q3 SAME STORE SALES ROSE 1 PERCENT

* Q3 EARNINGS PER SHARE VIEW $0.43 -- THOMSON REUTERS I/B/E/S

* SEES FY 2017 EARNINGS PER SHARE $2.13 TO $2.16

* SEES Q4 2017 EARNINGS PER SHARE $1.15 TO $1.18

* Q3 SALES $1.24 BILLION VERSUS I/B/E/S VIEW $1.26 BILLION

* SAYS TOTAL MERCHANDISE INVENTORY AT END OF Q3 WAS $1,404.2 MILLION COMPARED TO $1,394.1 MILLION IN Q3 OF FISCAL 2016

* SAYS QTRLY NET SALES INCLUSIVE OF AN ESTIMATED $10 MILLION IN LOST SALES RELATED TO HURRICANES HARVEY AND IRMA

* SEES FISCAL 2017 COMPARABLE STORE SALES TO INCREASE 0.6% TO 0.9%, OR 0.4% TO 0.7% ON A CONSTANT CURRENCY BASIS

* SEES FISCAL 2017 CAPITAL EXPENDITURES TO BE APPROXIMATELY $120 MILLION

* SEES FISCAL 2017 TOTAL NET SALES GROWTH OF 2.9% TO 3.2% INCLUDING IMPACT OF 53RD WEEK, WHICH IS PLANNED TO BE ABOUT $80 MILLION

* FY EARNINGS PER SHARE VIEW $2.14 -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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