Annual report pursuant to Section 13 and 15(d)

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

v3.20.1
CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Statements of Comprehensive Income) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Feb. 01, 2020
Nov. 02, 2019
Aug. 03, 2019
May 04, 2019
Feb. 02, 2019
Nov. 03, 2018
Aug. 04, 2018
May 05, 2018
Feb. 01, 2020
Feb. 02, 2019
Feb. 03, 2018
Supplemental Condensed Consolidating Statement of Comprehensive Income                      
Net sales $ 1,722,608 $ 1,222,021 $ 1,033,689 $ 1,093,720 $ 1,789,109 $ 1,274,058 $ 1,053,267 $ 1,155,511 $ 5,072,037 $ 5,271,944 $ 5,361,960
Cost of sales and occupancy expense 1,076,610 780,387 666,703 676,080 1,074,285 795,104 679,938 698,948 3,199,780 3,248,276 3,233,171
Gross profit 645,998 441,634 366,986 417,640 714,824 478,954 373,329 456,563 1,872,257 2,023,668 2,128,789
Selling, general and administrative 370,803 322,807 290,074 320,597 381,211 340,593 300,981 328,617 1,304,280 1,351,401 1,390,400
Restructure and impairment charges   41,376 3,869 3,087 59,960   (3,220) 47,498 48,332 104,238  
Store pre-opening costs                 4,608 4,417 2,999
Operating income 274,957 76,049 71,300 92,730 273,230 137,165 74,273 78,943 515,037 563,612 735,390
Losses on early extinguishments of debt and refinancing costs                 1,316 1,835  
Income before income taxes                 358,371 417,054 605,741
Income taxes                 85,776 97,509 215,243
Net income $ 181,651 $ 28,705 $ 24,547 $ 37,691 $ 181,403 $ 83,769 $ 27,488 $ 26,885 272,595 319,545 390,498
Other comprehensive income, net of tax:                      
Foreign currency and interest rate swaps                 (8,273) (10,898) 10,564
Comprehensive income                 264,322 308,647 401,062
Michaels Stores [Member]                      
Supplemental Condensed Consolidating Statement of Comprehensive Income                      
Net sales                 5,072,037 5,271,944 5,361,960
Cost of sales and occupancy expense                 3,199,780 3,248,276 3,233,171
Gross profit                 1,872,257 2,023,668 2,128,789
Selling, general and administrative                 1,303,350 1,350,371 1,389,334
Restructure and impairment charges                 48,332 104,238  
Store pre-opening costs                 4,608 4,417 2,999
Operating income                 515,967 564,642 736,456
Interest and other expense, net                 156,682 146,572 129,657
Income before income taxes                 359,285 418,070 606,799
Income taxes                 85,995 97,751 215,820
Net income                 273,290 320,319 390,979
Other comprehensive income, net of tax:                      
Foreign currency and interest rate swaps                 (8,273) (10,898) 10,564
Comprehensive income                 $ 265,017 $ 309,421 $ 401,543