The Michaels Companies, Inc. owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores, Aaron Brothers stores and Pat Catan’s stores.
Going into their quarterly earnings tomorrow, I noticed bearish unusual call options. The Smart Money bought over 2,500 Apr $10 strike call options.
Despite Michaels expecting to deliver a year-over-year increase in earnings on lower revenues and delivering positive earnings surprise in three of the last four quarters, the stock price is down almost 50% in the last three years.
This could be the reason why the company announced at
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