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June 4, 2019, 12:07 p.m. EDT

Michaels partners with tech company for limited-edition DIY products

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By Tonya Garcia

Michaels Cos. /zigman2/quotes/207984083/composite MIK -0.52% has partnered with Cricut for a limited-edition collection of products that brings commercial-quality heat-transfer technology to do-it-yourself projects. The collection includes Infusible Ink transfer sheets, pens and markers, and a Cricut Maker smart-cutting machine. The items will be available from June 21 through October 1. The partnership also includes a renovation of Michaels' in-store technology department, expanding it to double the size and increasing the assortment by 49% in 1,200 stores across the U.S. and Canada. Michaels stock is up 2.7% in Tuesday trading, but has fallen 29.5% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.05% has gained 11.2% for 2019 so far.

/zigman2/quotes/207984083/composite
US : U.S.: Nasdaq
$ 9.52
-0.05 -0.52%
Volume: 838,188
Oct. 15, 2019 12:31p
P/E Ratio
4.66
Dividend Yield
N/A
Market Cap
$1.49 billion
Rev. per Employee
$112,169
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/zigman2/quotes/210599714/realtime
US : S&P US
2,997.30
+31.15 +1.05%
Volume: 751.65M
Oct. 15, 2019 12:31p
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