Friday, December 13, 2019

Michaels downgraded after Q3 exposes 'weakening' competitive foothold

Retail Dive
S&P Global downgraded Michaels Companies to B+ from BB-, putting the craft retailer's rating closer to C-territory.

The downgrade follows a third quarter that fell below S&P analysts' expectations, "leading us to believe the company's competitive standing is weakening," S&P said in a press release on Wednesday.. . . more