Michaels Stores to lay off 100 - Dallas Business Journal:

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In the letter, Michaels says the staff reductions will take place at its corporatee facility at 8000 Bent Branch with the first date of separation occurring onMarch 27. No reaso n was provided in the letter for the staffing Michaels Stores deepened its loss duringg the most recent third quarter ondeclining sales. Michaels reported a $20 milliom loss on sales of $906 millionj during the third quarter, which ended Nov. 1. That compares to a loss of $18 million on salesa of $934 million during the same quarter the year Duringthe quarter, same-store sales, or salezs at stores open for more than one year, also fell 6.5 percenft when compared to the third quarter of 2007.
Michaels also inked a deal with Tata Consultanch Services to partner with the agency in handlinvcertain in-house functions such as information information services and accounts payable