Is Michaels’ new strategy of focusing on core makers paying off? Michaels Stores Inc. saw sales decline again in the third quarter of 2019 and downgraded its overall outlook for the year. And yet the company reported progress on its e-commerce and community initiatives.
A.C. Moore’s parent company, Nicole Crafts, is getting out of the retail crafts business. Some stores will reopen as Michaels in 2020.
In the company’s second quarter 2019 earnings report Michaels CEO Mark Cosby promised to serve the dedicated maker rather than the novice.
The craft store giant blames the drop in sales on closing Pat Catan’s and Aaron Brothers stores. Michaels’ new CEO is pushing e-commerce and concerned about ongoing tariff disputes with China.
\In a step towards embracing the gig economy, craft chain Michaels has revamped its in-store classes turning instructors into freelancers responsible for designing, pricing, and marketing their own workshops. The new Community Classroom program, which rolled out to 1,258 Michaels stores nationwide in March, allows any creative person to pitch to teach at their local Michaels store.
Michaels, the Irving, Texas-based craft store chain, launched a new program last month encouraging local makers to teach craft workshops in the stores’ classrooms. Called MAKERS Nation, the program is currently being piloted in five areas: Los Angeles, Chicago, Kansas City, Northwest Florida, and Salt Lake City.
Craft supplies are a $44 billion industry and two big players in the market, Michael’s and Etsy, have made recent moves to capitalize on that potential.
Over 1 million people took a class at a Michaels store last year. Michaels is the nation’s largest art and craft retailer and customers can take classes in painting, drawing, scrapbooking, cake decorating, knitting, and crochet at their local stores. But what is it like to teach those classes?