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5h ago

Michaels Rolls Out Dual‑Branded Knit & Sew Shops and Expanded Party Shop to Court Joann, Party City Customers

The retailer targets customers left without a fabric or party chain by deploying shop-in-shop formats that reuse Joann’s brand.

Joann fabric and craft company announced plans to close 500 of its 800 stores amid chapter 11 bankruptcy which includes its store in the Del Amo Fashion Center in Torrance shown here February 12, 2025. (Photo by Chuck Bennett, Contributing Photographer)
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Overview

  • The dual-branded Knit & Sew Shop featuring Joann signage is live in about 840 Michaels stores, with plans to add roughly 250 locations.
  • Michaels will carry fabric in more than 1,000 stores and install fabric-by-the-yard cutting tables in about 650 by mid-October.
  • Big Twist yarn, part of Joann intellectual property acquired in June, is slated to hit Michaels shelves in late October.
  • The Party Shop at Michaels broadens balloons and decorations, introduces in-store kids’ parties, and lowers the starting price to $149 from $299.
  • CEO David Boone cites market white space left by Joann and Party City as analysts warn of rivals like Walgreens and Five Below; Michaels is owned by Apollo and does not disclose financials.