Annual report pursuant to Section 13 and 15(d)

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

v3.20.4
CONDENSED CONSOLIDATED FINANCIAL INFORMATION (Statements of Comprehensive Income) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Jan. 30, 2021
Oct. 31, 2020
Aug. 01, 2020
May 02, 2020
Feb. 01, 2020
Nov. 02, 2019
Aug. 03, 2019
May 04, 2019
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Supplemental Condensed Consolidating Statement of Comprehensive Income                      
Net sales $ 1,916,842 $ 1,406,212 $ 1,148,170 $ 799,888 $ 1,722,608 $ 1,222,021 $ 1,033,689 $ 1,093,720 $ 5,271,112 $ 5,072,037 $ 5,271,944
Cost of sales and occupancy expense 1,106,815 824,496 805,658 578,066 1,076,610 780,387 666,703 676,080 3,315,035 3,199,780 3,248,276
Gross profit 810,027 581,716 342,512 221,822 645,998 441,634 366,986 417,640 1,956,077 1,872,257 2,023,668
Selling, general and administrative 447,032 373,193 289,053 281,341 370,803 322,807 290,074 320,597 1,390,620 1,304,280 1,351,401
Restructure and impairment charges 19,447 9,388       41,376 3,869 3,087 28,835 48,332 104,238
Store pre-opening costs                 3,082 4,608 4,417
Operating income 341,994 198,951 53,273 (60,678) 274,957 76,049 71,300 92,730 533,540 515,037 563,612
Losses on early extinguishments of debt and refinancing costs   22,000             22,044 1,316 1,835
Income before income taxes                 360,604 358,371 417,054
Income taxes                 65,669 85,776 97,509
Net income $ 255,075 $ 111,122 $ (7,757) $ (63,505) $ 181,651 $ 28,705 $ 24,547 $ 37,691 294,935 272,595 319,545
Other comprehensive income, net of tax:                      
Foreign currency and cash flow hedges/interest rate swaps                 9,387 (8,273) (10,898)
Comprehensive income                 304,322 264,322 308,647
Michaels Stores [Member]                      
Supplemental Condensed Consolidating Statement of Comprehensive Income                      
Net sales                 5,271,112 5,072,037 5,271,944
Cost of sales and occupancy expense                 3,315,035 3,199,780 3,248,276
Gross profit                 1,956,077 1,872,257 2,023,668
Selling, general and administrative                 1,388,744 1,303,350 1,350,371
Restructure and impairment charges                 28,835 48,332 104,238
Store pre-opening costs                 3,082 4,608 4,417
Operating income                 535,416 515,967 564,642
Interest and other expense, net                 172,938 156,682 146,572
Income before income taxes                 362,478 359,285 418,070
Income taxes                 66,119 85,995 97,751
Net income                 296,359 273,290 320,319
Other comprehensive income, net of tax:                      
Foreign currency and cash flow hedges/interest rate swaps                 9,387 (8,273) (10,898)
Comprehensive income                 $ 305,746 $ 265,017 $ 309,421