Overview
- Michaels has activated the Knit & Sew Shop in about 840 U.S. and Canadian stores, with plans to add roughly 250 more locations in the coming months.
- The dual-branded sewing format features Joann signage and private labels, with fabric available in more than 1,000 stores and fabric-cutting tables slated for around 650 locations by mid-October.
- Big Twist yarn, acquired with Joann’s intellectual property in June, is scheduled to hit Michaels shelves by the end of October.
- The Party Shop at Michaels adds balloon bars and in-store kids’ parties, expands online party inventory to about 79,000 items, and cuts prices 25%–70% on more than 200 products, with party bookings starting at $149.
- Michaels says it is increasing fabric and yarn assortments by roughly 25% to capture demand left by Joann and Party City, a gap analysts describe as up for grabs; the Joann deal excluded physical stores.