Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Statements of Comprehensive Income) (Details)

v3.19.3
CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Statements of Comprehensive Income) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Nov. 02, 2019
Nov. 03, 2018
Nov. 02, 2019
Nov. 03, 2018
Supplemental Condensed Consolidating Statement of Comprehensive Income        
Net sales $ 1,222,021 $ 1,274,058 $ 3,349,430 $ 3,482,835
Cost of sales and occupancy expense 780,387 795,104 2,123,171 2,173,990
Gross profit 441,634 478,954 1,226,259 1,308,845
Selling, general and administrative 322,807 340,593 933,478 970,191
Restructure and impairment charges 41,376   48,332 44,278
Store pre-opening costs 1,402 1,196 4,370 3,995
Operating income 76,049 137,165 240,079 290,381
Losses on early extinguishments of debt and refinancing costs 161   1,316 1,835
Income before income taxes 37,029 99,488 119,558 181,699
Income taxes 8,324 15,719 28,615 43,557
Net income 28,705 83,769 90,943 138,142
Other comprehensive income, net of tax:        
Foreign currency and interest rate swaps 1,230 3,016 (8,358) (3,230)
Comprehensive income 29,935 86,785 82,585 134,912
Michaels Stores [Member]        
Supplemental Condensed Consolidating Statement of Comprehensive Income        
Net sales 1,222,021 1,274,058 3,349,430 3,482,835
Cost of sales and occupancy expense 780,387 795,104 2,123,171 2,173,990
Gross profit 441,634 478,954 1,226,259 1,308,845
Selling, general and administrative 322,563 340,375 932,777 969,500
Restructure and impairment charges 41,376   48,332 44,278
Store pre-opening costs 1,402 1,196 4,370 3,995
Operating income 76,293 137,383 240,780 291,072
Interest and other expense, net 38,863 37,680 119,218 106,857
Losses on early extinguishments of debt and refinancing costs 161   1,316 1,835
Income before income taxes 37,269 99,703 120,246 182,380
Income taxes 8,381 15,771 28,780 43,722
Net income 28,888 83,932 91,466 138,658
Other comprehensive income, net of tax:        
Foreign currency and interest rate swaps 1,230 3,016 (8,358) (3,230)
Comprehensive income $ 30,118 $ 86,948 $ 83,108 $ 135,428