Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.2
CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Statements of Comprehensive Income) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2020
Nov. 02, 2019
Oct. 31, 2020
Nov. 02, 2019
Supplemental Condensed Consolidating Statement of Comprehensive Income        
Net sales $ 1,406,212 $ 1,222,021 $ 3,354,270 $ 3,349,430
Cost of sales and occupancy expense 824,496 780,387 2,208,220 2,123,171
Gross profit 581,716 441,634 1,146,050 1,226,259
Selling, general and administrative 373,193 322,807 943,587 933,478
Restructure and impairment charges 9,388 41,376 9,388 48,332
Store pre-opening costs 184 1,402 1,528 4,370
Operating income 198,951 76,049 191,547 240,079
Losses on early extinguishments of debt and refinancing costs 22,044 161 22,044 1,316
Income before income taxes 139,406 37,029 58,696 119,558
Income taxes 28,284 8,324 18,836 28,615
Net income 111,122 28,705 39,860 90,943
Other comprehensive income, net of tax:        
Foreign currency and cash flow hedges 3,910 1,230 (1,466) (8,358)
Comprehensive income 115,032 29,935 38,394 82,585
Michaels Stores [Member]        
Supplemental Condensed Consolidating Statement of Comprehensive Income        
Net sales 1,406,212 1,222,021 3,354,270 3,349,430
Cost of sales and occupancy expense 824,496 780,387 2,208,220 2,123,171
Gross profit 581,716 441,634 1,146,050 1,226,259
Selling, general and administrative 372,167 322,563 942,075 932,777
Restructure and impairment charges 9,388 41,376 9,388 48,332
Store pre-opening costs 184 1,402 1,528 4,370
Operating income 199,977 76,293 193,059 240,780
Interest and other expense, net 37,502 38,863 110,810 119,218
Losses on early extinguishments of debt and refinancing costs 22,044 161 22,044 1,316
Income before income taxes 140,431 37,269 60,205 120,246
Income taxes 28,530 8,381 19,198 28,780
Net income 111,901 28,888 41,007 91,466
Other comprehensive income, net of tax:        
Foreign currency and cash flow hedges 3,910 1,230 (1,466) (8,358)
Comprehensive income $ 115,811 $ 30,118 $ 39,541 $ 83,108